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Recap Of The Week For November 11, 2016

Recap of the week for November 11, 2016

November 11, 2016

A Dynamic Commodities Exclusive

Recap of the week for November 11, 2016

Highlights:

  • Trump election and Republican sweep turns markets on their heads
  • Precious metals head south after initial rallies
  • Copper explodes to over $2.73 per pound and closes the week at $2.51
  • Iron ore and the Baltic Dry Index move higher on the prospects of infrastructure building
  • Lumber edges higher
  • Crude oil continues lower- Trump means drill baby drill
  • Weakness in product prices
  • Natural gas falls more but may have found a bottom as inventories move to record highs and the price does not make a new low
  • Ethanol follows energy and falls almost 2% on the week
  • Grains quietly lower as bio-fuel demand and mandates in question under the Republicans
  • Sugar remains steady
  • Coffee makes a new high at $1.76 and then reverses and corrects sharply lower
  • Cocoa trades down to lows of $2436 and loses over 4% on the week
  • Cotton holds steady close to unchanged last week
  • FCOJ futures fall 3.3% over the week
  • Meats post gains
  • Equities tank on election night on Trump victory and then some roar to new highs
  • Dollar falls sharply on Trump then moves to the top of the trading range adding 2% on the week
  • Lots of fundamental changes in markets with Trump and a Republican Congress- The Big Loser: Pollsters!

Price Changes for the week:

 

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