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Recap Of The Week For November 17, 2017

Recap of the week for November 17, 2017

November 17, 2017

Recap of the week for November 17, 2017


  • A new King for Saudi Arabia?
  • Venezuela defaults
  • Tax reform passes Congress but runs into problems in the Senate
  • Gold up 1.42% on the week on a delayed reaction to the dollar
  • Silver vaults 2.46% higher for the week to the top end of its trading range
  • Platinum rebounds 2.32% and extends last week’s gains
  • Palladium stable up just 0.04% since the last report and closes at just below the $1000 level
  • Copper down just 0.07% on the week
  • Iron ore moved marginally lower falling 0.69% for the week
  • The Baltic Index continues to correct down 8.10% on the week
  • Lumber turns 4.33% lower for the week with a limit down move on Friday
  • December NYMEX crude oil corrects just 0.05% lower but recovers on Friday after testing below the $55 per barrel level on December futures earlier in the week
  • Brent 1.40% lower on the week the Brent premium in January closes at a $6.01 premium to January WTI down 52 cents on the week
  • Gasoline plunges 4.66%, and heating oil moves 0.34% higher on the week on December futures contracts on season factors
  • Crack spreads mixed with the gasoline crack was down 16.40% and heating oil crack moves 3.05% higher on the week
  • Natural gas corrects 3.05% lower on the week as a gap on the daily and weekly chart looms large. The injection season came to an end and inventories fell by 18 bcf for the week ending on November 10
  • Ethanol down 2.82% on the week on weak gasoline
  • Soybeans move just 0.35% higher for the week
  • Corn down 0.15% on the week
  • CBOT wheat falls 0.98% on the week
  • Sugar moves 2.4% higher on the week to a new short-term high
  • Coffee drops 2.94% on the week as December futures roll to March
  • Cocoa down 4.36% on the week as it continues to back and fill
  • Cotton up 1.06% on the week and probes the 70 cents level
  • FCOJ up 2.58% for the week on seasonal influences
  • Live cattle drop another 1.43% on the week
  • Feeder cattle continue lower moving down 3.47% since last week
  • Hogs follow cattle and fall 2.92% as of Friday’s close
  • The dollar index declines 0.75% as the correction to the upside appear to have come to an end
  • December long-Bonds bounce back and close at around 154-02 up 1-25 on the week
  • The Dow Jones Industrial Average closes at 23,358 on Friday, November 17, down 64 points on the week posting the second weekly loss in the equities index


Price Changes for the week:

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