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Recap Of The Week For June 23, 2017

Recap of the week for June 23, 2017

June 23, 2017

Highlights:

  • An ugly week for energy and agricultural commodities
  • Gold up 0.22% for the week
  • Silver down only 0.03%
  • Platinum just 0.10% lower
  • Palladium down 1.28%
  • Copper moved 2.34% higher
  • Iron ore gains 2.12%
  • The Baltic Index edges 0.47% higher
  • Lumber up 0.08% on the week
  • WTI crude oil falls 3.87% on the week and probes below critical support at $42.20 per barrel
  • Brent down 3.55% despite political issues surrounding Qatar in the Middle East
  • Gasoline and heating post losses of 1.71% and 3.85% respectively
  • Crack spreads mixed – gasoline crack up 4.51% and heating oil crack down 2.67 % on the week
  • Natural gas moves to lows of $2.855 per MMBtu and moved 3.60% lower on the week
  • Ethanol down 4.90% for the week as the biofuel catches up with gasoline and weighs on corn
  • Soybeans plunge 3.80% on the week below technical support
  • Corn down 6.90% on the week and fall below support on weakness in ethanol and good weather
  • Wheat strongest grain down only 1.29%
  • Sugar down another 3.37% and probes under 13 cents as July rolls to October futures
  • Coffee down 2.69% as July futures roll to September and makes a new low but bounces on Friday to pare losses
  • Cocoa down 7.39% on the week as July futures roll to September and cocoa approaches recent lows
  • Cotton falls 3.51% and falls through support as July rolls to December futures
  • FCOJ moves down 4.31% on the week as July rolls to September
  • All softs fall alongside open interest during roll period, extreme weakness in the sector
  • Live cattle continue 2.52% lower on the week
  • Feeder cattle fall 1.98 %
  • Hogs finally turn south and lose 0.60% on the week
  • The dollar uninspiring as the September dollar index futures fall 0.08% on the week despite higher rates
  • September long-Bonds close lower at 156-18 up 1-13 on the week
  • Dow Jones Industrial Average closes on Friday, June 9, at 21,395 up just 11 points on the week
  • Commodities have a rough week going into the end of the second quarter
  • Watch for window dressing next week across all markets

Price Changes for the week:

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