skip to Main Content
Recap Of The Week For August 25, 2017

Recap of the week for August 25, 2017

August 25, 2017

Highlights:

  • Quiet markets at the end of summer
  • Hurricane Harvey threatens Texas and the Gulf of Mexico
  • Next week many market participants will be on vacation
  • Gold up just 0.19% on the week, closing in on the $1300 level
  • Silver down just 0.03% closing over the $17 per ounce level
  • Platinum down 0.61% on the week
  • Palladium up 0.65% adding to gains after recent break to the upside
  • Copper rallies 3.34% on the week and closes above $3 per pound for the first time since 2014
  • Iron ore up 0.98% for the week
  • The Baltic Index edges 3.77% lower after recent gains and trades around the 1200 level after being at 820 on July 10
  • Lumber rebounds 1.56% on the week
  • WTI crude oil down 1.62% despite a continuation of inventory declines and Hurricane Harvey
  • Brent down 0.64% as Brent premium over WTI continues to climb higher and trades and closes at $4.51 premium to WTI in October
  • Gasoline moves 0.50% higher on worries about Texas gasoline refineries and heating oil loses 0.29% on the week
  • Crack spreads move higher on hurricane scare – gasoline crack up 8.86% and heating oil crack rallies 4.04% on the week as oil products outperform the crude oil price
  • Natural gas moves 0.21% higher on the week but inventories continue to trickle into storage and 4 tcf at the start of winter is likely to prove elusive
  • Ethanol down 3.14% for the week on lower corn prices
  • Soybeans rebound 0.72% on the week
  • Corn declines 3.15%
  • CBOT wheat continues lower, down 1.92% for the week
  • Sugar rebounds 4.62% this week
  • Coffee down 0.38% on the week
  • Cocoa up 3.15% on the week
  • Cotton moves 1.40% higher but gives up gains on Friday as it puts in a bearish key reversal trading pattern on the daily chart
  • FCOJ moves 0.29% lower on the week
  • Live cattle up 0.97% on the week
  • Feeder cattle rallies 2.07%
  • Hogs move lower by 4.61% on the week
  • The dollar index down 0.73% on the week
  • September long-Bonds move higher after Yellen’s Jackson Hole comments and close at 156-16 up 0-21 on the week
  • Dow Jones Industrial Average trading around 21,814 at the close on Friday, August 25, up 109 points on the week

Price Changes for the week:

Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities

Leave a Reply

Back To Top