DC Recap 5 12 17

Recap of the week for May 12, 2017

May 12, 2017

Highlights:

  • Weakness in commodities then a rebound
  • Precious metals make lows, rebound and close little changed on the week
  • Gold down only 0.16% for the week
  • Silver up 0.31% and breaks the long losing streak
  • Platinum, up 0.44% and Palladium falls 1.11%
  • Copper 0.59% lower
  • Iron ore down 0.67% near recent lows
  • The Baltic Index up 0.80%
  • Lumber corrects 6.33% lower on the week
  • WTI crude oil up 3.5% on the week
  • Brent gains 3.32%
  • Gasoline and heating post gains of 4.30% and 3.05%respectively
  • Crack spreads continue higher – gasoline crack rallies 6.69% and heating oil crack up 3.41% on the week
  • Natural gas threatening to break higher up 4.34% on the week
  • Ethanol up 2.27% along with energy commodities
  • May WASDE has no big effect on grains
  • Soybeans down 1.03%
  • Corn up 0.07% on the week
  • Wheat moved 2.15% lower
  • KCBT at a premium of 6.50 cents over CBOT wheat down 1.25 cents on the week
  • Sugar up 1.31% but in the 15-16 cent trading range
  • Coffee down 0.55% on the week
  • Cocoa rebounds sharply and adds 7.98%
  • Cotton up 5.67% and closes limit up Friday above 82 cents at a new high
  • FCOJ up 0.82%
  • Live cattle correct 2.44% lower on the week
  • Feeder cattle down 1.04%
  • Hogs continue to post gains moving 2.13% higher
  • The dollar moved 0.61% higher
  • Long-Bonds close lower at 151-16 level down 0-12 on the week as market expects Fed rate hike in June
  • Dow Jones Industrial Average closes on Friday May 5, at 20,897 down 109 points on the week as stocks retreat from the highs

Price Changes for the week:

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