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Recap Of The Week For November 24, 2017

Recap of the week for November 24, 2017

November 27, 2017


  • Happy Thanksgiving- It is now the holiday season!
  • Gold down 0.49% despite a lower dollar
  • Silver moves 1.70% lower and settles the week around the $17 per ounce level
  • Platinum down 0.86% for the week
  • Palladium stable up just 0.07% since last report as it continues to flirt with the $1000 level
  • Copper rebounds 3.32% on the week as LME stocks continue to fall
  • Iron ore turns around and rallies 8.80% for the week
  • The Baltic Index posts a 6.17% gain on the week
  • Lumber continues to correct, moving 4.32% lower for the week
  • January NYMEX crude oil moves 3.79% higher after a brief correction down to the $55 per barrel level. The energy commodity moves toward $60 per barrel as OPEC meets next week
  • Brent 1.83% higher on the week and the Brent premium in January closes at a $4.92 premium to January WTI down $1.09 on the week
  • Gasoline moves 2.01% higher, and heating oil moves 0.08% higher on the week on January futures contracts
  • Crack spreads move lower the gasoline crack was down 4.07% and heating oil crack moves 8.07% to the downside on the week
  • Natural gas continues to move to the downside with a 9.20% loss on the week as price action fills the gaps on the daily and weekly charts. Inventories fell by 46 bcf for the week ending on November 17
  • Ethanol down 3.03% on the week on weak gasoline
  • Soybeans move 0.28% higher for the week
  • Corn down 0.22% on the week
  • CBOT wheat falls 2.69% on the week
  • Sugar moves 0.52% higher on the week to a new short-term high on strong oil prices
  • Coffee edges 0.31% higher on the week
  • Cocoa down 0.61% on the week as it continues to back and fill
  • Cotton up 3.60% on the week and settles close to 72 cents per pound on the March futures contract
  • FCOJ down 0.54% for the week on seasonal influences
  • Live cattle drop post a marginal 0.06% loss on the week
  • Feeder cattle up 1.04% since last week
  • Hogs follow through on rebound and post a 3.54% gain as of Friday’s close
  • The dollar index declines 0.91% and closes below the 93 level on the December futures contract
  • December long-Bonds hold steady and close at around 154-10 up 0-08 on the week as Fed minutes reveal the central bank is concerned about the low rate of inflation
  • The Dow Jones Industrial Average closes at 23,558 on Friday, November 24, up 200 points on the week

Price Changes for the week:

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