DC Recap 5 5 17

Recap of the week for May 5, 2017

May 5, 2017

Highlights:

  • French election this Sunday
  • A sea of red ink in commodities
  • An ugly week for precious metals
  • Gold down 3.07% for the week and breaks support
  • Silver falls 5.29% and platinum loses 3.48%
  • Palladium falls 1.57%
  • Copper 2.68% lower
  • Iron ore loses 8.09% and it back near recent lows
  • The Baltic Index falls 11.46%
  • Lumber bucks the trend and recovers 0.70% higher on the week
  • WTI crude oil plunges 6.30% on the week
  • Brent down 5.67%
  • Gasoline and heating outperform down 2.45% and 3.89%respectively
  • Crack spreads turn higher from last week’s lows- gasoline crack rallies 10.48% and heating oil crack up 2.21% on the week
  • Natural gas the best performing energy commodity down only 0.09% on the week
  • Ethanol falls 3.48%
  • A surprise snowstorm sends grains higher
  • Soybeans gain 1.75%
  • Corn up 1.16% on the week
  • Wheat moved 2.31% higher
  • KCBT at a premium of 7.75 cents over CBOT wheat up 2.75 cents on the week
  • Sugar down 5.08% and probing lower
  • Coffee up 1.72%
  • Cocoa rebounds by 1.36%
  • Cotton down 1.39%
  • FCOJ loses 7.58%
  • Live cattle add to gains up 3.45% on the week but reverse lower on Friday
  • Feeder cattle down 0.82%
  • Hogs continue to post gains moving 3.14% higher
  • The dollar down 0.37% as the euro moves above the $1.10 level in anticipation of a Macron victory in French election Sunday
  • Long-Bonds close lower at 151-28 level down 1-06 on the week
  • Dow Jones Industrial Average closes on Friday May 5, at 21,006 up 66 points on the week as stocks near the highs

Price Changes for the week:

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