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Recap of the week for June 16, 2017

June 16,2017

Highlights:

  • Precious metals continue to fall
  • Gold down 1.01% for the week
  • Silver loses 3.14%
  • Platinum down 1.49%
  • Palladium down only 0.12% and continues to be the strongest metal in the sector
  • Copper moved 2.97% lower
  • Iron ore up 1.78%
  • The Baltic Index up 3.76%
  • Lumber steady up 0.22% on the week
  • WTI crude oil falls to critical support down 2.38% on the week
  • Brent down 1.64% amidst political issues surrounding Qatar in the Middle East
  • Gasoline down 3.19% on inventory increases
  • Heating oil falls only 0.27% as stockpile data mixed
  • Natural gas down 0.36% on the week
  • Ethanol rallies 1.42% despite losses in gasoline
  • Soybeans down 0.27% on the week
  • Corn falls 0.97% on the week
  • Wheat rises sharply by 4.37%
  • Sugar down 5.82% as selling resumes
  • Coffee down 2.37% and falls through technical support on Friday
  • Cocoa down 2.23% on the week
  • Cotton down 5.03% and falls through support at 73.35 eyeing the 70 cent per pound level
  • FCOJ rebounds 2.13% on the week as it moves above $1.40 per pound again
  • Live cattle get barbecued and fall 4.58% early in the grilling season
  • Feeder cattle down 4.09%
  • Hogs down just 0.45% higher adding to gains
  • The dollar falls 0.42% despite the Fed rate increase and hawkish tone in the statement and press conference
  • Fed to begin reducing balance sheet in 2017 targeting $50 billion per month
  • Long-Bonds close higher at 155-24 up 1-18 on the week
  • Dow Jones Industrial Average closes on Friday, June 9, at 21,384 up 113 points on the week but stocks toppy after rate hike
  • Bitcoin closes the week around $2550 down $305 from last week’s close
  • Commodities have a rough week despite lower dollar on the prospects for rising U.S. interest rates and weakness in the industrial sector

No chart this week- On the road!

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

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