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Recap Of The Week For October 13, 2017

Recap of the week for October 13, 2017

October 13, 2017

Highlights:

 

  • President Trump decertifies the Iran Agreement and sends it to Congress for a final decision
  • Gold up 2.13% on the week
  • Silver rises 3.53% for the week following through on last week’s bullish key reversal
  • Platinum up 3.31% and still at a discount to palladium
  • Palladium explodes 7.11% higher since last report
  • Copper rallies 3.60% on the week and approaches recent highs
  • Iron ore sheds just 0.36% for the week an after trading below $60 per ton recovers
  • The Baltic Index up 5.50% on the week
  • Lumber posts a 2.96% gain this week and puts in a new high above critical resistance on the November futures contract and closes at $424.30 per 1,000 board feet, the highest level since September 2004
  • WTI crude oil moves 4.38% higher on the week and closes above $51 per barrel
  • Brent moves 2.79% lower and Brent premium closes the week at a $5.44 premium to WTI in December down 48 cents on the week
  • Gasoline up 4.07%, and heating oil rallies 3.04% on the week
  • Crack spreads post gains; the gasoline crack was up 3.47% and heating oil crack moves 0.79% to the upside on the week
  • Natural gas recovers 4.86% on the week and bounces after a new low after inventories build by 87 bcf for the week ending on October 6
  • Ethanol up 0.77%
  • Grains steady after the release of the USDA’s October WASDE
  • Soybeans move 2.88% higher for the week
  • Corn up just 0.79%on the week
  • CBOT wheat loses just 0.90% for the week
  • Sugar moves 3.08% higher this week
  • Coffee slips 2.73% on the week after rejecting highs above $1.30 per pound
  • Cocoa moves only 0.10% higher on the week and is trading at the top end of its range
  • Cotton down just 0.32% after October WASDE
  • FCOJ falls 3.53% for the week on worst crop in over 70 years which was better than the market expected after Hurricane Irma
  • Live cattle up 0.17% on the week after questionable WASDE
  • Feeder cattle post a 0.48% loss on the week
  • Hogs add to last week’s gains moving another 2.09% higher this week but WASDE is not bullish for pork
  • The dollar index falls 0.75% on the week
  • December long-Bonds move higher and close at around 154-05 up 1-31 on the week
  • Stocks make new record highs on all indices during the week with the Dow Jones Industrial Average trading around 22,872 at the close on Friday, October 13, up 323 points on the week

 

Price Changes for the week:

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