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Recap Of The Week For October 14, 2016

Recap of the week for October 14, 2016

October 14, 2016

This report is a Dynamic Commodities exclusive

Highlights:

  • Precious metals move lower with most of the downside action in platinum and palladium
  • Copper rejects $2.20 and closes near $2.10
  • Chinese data pushes the Baltic Dry Index lower but iron ore rises over 6%
  • Lumber falls from last week’s highs on prospects for an interest rate hike
  • Crude oil stable around $50 on NYMEX active month futures
  • The heating oil crack spread weakens
  • Natural gas trades at 23-month highs but closes below $3.30
  • Ethanol rallies with corn
  • WASDE indicates massive grain supplies but demand at record levels
  • Soybeans, corn, and wheat all rally in post-WASDE trading- sell the rumor buy the news
  • Sugar retreats below 23 cents on March futures
  • Coffee futures rally over 5%
  • Cocoa continue its swoon as the pound weakens
  • Cotton back over 70 cents on declining inventories according the WASDE
  • FCOJ futures fall below $1.90
  • Meats continue to decline to 2010 lows with cattle down over 5% and hogs marginally lower close to lowest price since 2009
  • Stocks post small losses
  • The dollar index rallies and closes above key resistance at 97.61

Price Changes from the previous week:

See image

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