DC 6 9 17

Recap of the week for June 9, 2017

June 9, 2017

Highlights:

  • Precious metals pull back sans palladium
  • Gold down 0.86% for the week
  • Silver loses 1.77%
  • Platinum down 1.36%
  • Palladium up 3.23% and trades to the highest price since 2014 at $900.35 on the June contract on Friday
  • Copper steady 2.74% higher
  • Iron ore falls another 2.85%
  • The Baltic Index down 3.06%
  • Lumber rebounds 3.08% on the week
  • WTI crude oil continues to fall after inventory increases down 3.84% on the week
  • Brent down 3.53% despite political issues surrounding Qatar in the Middle East
  • Gasoline and heating post losses of 4.55% and 3.31% respectively
  • Crack spreads lower – gasoline crack down 6.76% and heating oil crack down 1.44% on the week
  • Natural gas moves to lows of $2.935 per MMBtu but bounces and winds up 1.37% higher on the week
  • Ethanol down 1.21% for the week as weak gasoline weighs on the biofuel
  • No real surprises in the June WASDE report
  • Soybeans rebounds 2.20% on the week
  • Corn up 4.02% on the week
  • Wheat rises 3.78%
  • Sugar rebounds 3.86%
  • Coffee up an anemic 0.80%
  • Cocoa rises 0.95% on the week
  • Cotton falls 1.30% and approaches critical support at 75.35 cents per pound
  • FCOJ move up 4.75% on the week
  • Live cattle fall 1.75% on the week
  • Feeder cattle down 2.87%
  • Hogs power 0.88% higher adding to gains
  • The dollar bounced 0.59 to above 97 on the June dollar index futures contract
  • Long-Bonds close lower at 154-06 down 0-24 on the week
  • Dow Jones Industrial Average closes on Friday, June 9, at 21,271 up 65 points on the week but NASDAQ falls by 114 point on Friday on weakness in chip stocks
  • Bitcoin closes the week around $2855 up $400 from last week’s close
  • The British pound falls to $1.2740 against the dollar on election shocker that could hurt the UK in Brexit negotiations

Price Changes for the week:

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