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Recap Of The Week For November 10, 2017

Recap of the week for November 10, 2017

November 10, 2017


  • Tensions rise in the Middle East
  • Tax reform runs into problems in Congress and stocks move lower
  • Gold up 0.48% on the week
  • Silver posts a marginal gain of 0.36% for the week
  • Platinum rebounds 0.96% and leads the precious metals sector- every dog has its week
  • Palladium down 0.41% since last report after posting a higher high at $1023.25 on November 9
  • Copper drops 1.33% on the week
  • Iron ore continues to recover moving 4.09% for the week
  • The Baltic Index down 1.00% on the week
  • Lumber continues to rise 4.55% for the week
  • December NYMEX crude oil moves 1.98% higher on the week on positive fundamentals and Middle East issues
  • Brent 2.48% higher on the week the Brent premium in January closes the week at a $6.53 premium to January WTI
  • Gasoline rises 2.04%, and heating oil moved 2.83% higher on the week on December futures contracts as demand supports prices
  • Crack spreads continue to support crude oil and display strong demand- the gasoline crack was up 2.83% and heating oil crack moved 4.90% higher on the week reflecting seasonal trends
  • Natural gas explodes 7.81% higher on the week as the injection season is coming to an end and inventories build by 15 bcf for the week ending on November 3
  • Ethanol down just 0.21% on the week on weak corn price action
  • November WASDE confirm bearish tone for most agricultural commodities
  • Soybeans move just 0.03% higher for the week
  • Corn down 1.36% on the week
  • CBOT wheat up 1.35% on the week as WASDE says stocks marginally lower
  • Sugar moves 4.03% higher on the week to the top end of its trading range on higher crude oil prices
  • Coffee rebounds 2.90% on the week
  • Cocoa up 7.86% on the week as it rallies above the $2200 mark and posted a new medium-term high breaking the pattern of lower highs
  • Cotton up 0.48% on the week but WASDE is friendly for the fiber
  • FCOJ up 3.83% for the week on seasonal influences
  • Live cattle turn south and drop 5.28%¬†on the week
  • Feeder cattle post a 2.69% loss on the week
  • Hogs follow cattle and fall 4.03% this week as a bullish October turns into a bearish November
  • The dollar index retreated 0.61% but makes a new marginal short-term high at 95.07 on the December futures contract on November 7 before turning lower
  • December long-Bonds retreat and close at around 152-09 down 1-20 on the week on prospects for interest rate hikes
  • The Dow Jones Industrial Average closes at 23,422 on Friday, November 10, down 117 points on the week as tax reform falters


Price Changes for the week:

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