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Recap Of The Week For February 10, 2017

Recap of the week for February 10, 2017

February 10, 2017

Highlights:

  • Precious metals post gains despite Thursday’s selloff and a rally in the dollar
  • Silver up 2.51% on the week posting its seventh straight weekly gain but palladium leads up 4.53%
  • Copper up 5.29% on the week and breaks above the November 28 highs
  • Iron ore up almost 5%
  • The Baltic Index drops another 8.18 %in seasonal soft shipping market
  • Lumber continues higher, up another 5.68% on the week
  • Crude oil quiet despite massive inventory increases in the U.S.
  • Gasoline cracks correct higher while heating oil crack marginally lower
  • Natural gas down 0.5% on the week- $3 per MMBtu looms large
  • Ethanol explodes 3.92% higher
  • Soybeans up 3.12% despite WASDE
  • Corn makes a new high up 2.53% on the week
  • Wheat the big winner on WASDE up 4.36% on the week
  • KCBT premium over CBOT wheat unchanged on the week at just around 11.5 cents
  • Sugar back in the trading range down 3.27% on the week
  • Coffee finds some stability down only 0.34% on the week
  • Cocoa is a falling knife, new lows below $2000 per ton and down another 6.42% since last week
  • Cotton corrects lower by 0.77%
  • FCOJ corrects 1.77% higher
  • Live cattle continue slip down 2.23%
  • Hogs add to recent gains and move 1.5% higher
  • The dollar recovers as fundamentals cause a 0.81% rally on the week
  • Bonds rally 2 big figures to the 152 level after trading up to 153-21 during the week
  • New record highs in equities as the Dow Jones Industrial Average closes the week at 20,269

Price Changes for the week:

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