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Recap Of The Week For October 27, 2017

Recap of the week for October 27, 2017

October 27, 2017

Recap of the week for October 27, 2017

Highlights:

  • The dollar breaks above technical resistance after dovish comments from ECB President Mario Draghi on Thursday
  • Gold down 0.58% on the week
  • Silver falls 1.17% for the week
  • Platinum loses 0.68% as discount to palladium widens
  • Palladium falls 0.32% since last report
  • Copper corrects 2.08% lower on the week
  • Iron ore sheds 5.26% for the week and settles under $60 per ton
  • The Baltic Index moves 2.28% lower on the week after trading at the highest level since 2014
  • Lumber keeps on rallying on a perfect bullish storm up another 5.47% this week and trading at the highest level since 2004
  • December NYMEX crude oil moves 3.97% higher on the week closing near $54 per barrel
  • Brent moves 4.68% higher, closes over $60 per barrel and the Brent premium closes the week at a $6.54 premium to WTI in December up 64 cents on the week
  • Gasoline up 4.79%, and heating oil rallies 3.57% on the week on December futures contracts as inventories decline
  • Crack spreads post gains; the gasoline crack was up 5.82% and heating oil crack moves 1.75% to the upside on the week
  • Natural gas falls 4.73% on the week as November rolls to December futures and inventories build by 64 bcf for the week ending on October 20
  • Ethanol gains 1.80% on the week
  • Soybeans move 0.36% lower for the week
  • Corn up 1.23% on the week
  • CBOT wheat posts a marginal 0.29% gain for the week
  • Sugar moves 4.50% higher this week
  • Coffee rebounds 1.08% on the week after making another lower low
  • Cocoa moves 1.08% lower on the week as it retreats from another higher high
  • Cotton rebounds 1.97% but rejects 70 cents per pound
  • FCOJ down 0.29% for the week
  • Live cattle up 3.62% on the week as it approaches critical technical resistance
  • Feeder cattle post a 3.06% gain on the week
  • Hogs move marginally lower by 0.62% this week
  • The dollar index rallies 1.33% and breaks to the upside after Draghi’s dovish comments and Catalonia declares independence from Spain
  • December long-Bonds move lower and close at around 151-17 down -0-20 on the week on prospects for interest rate hikes
  • The Dow Jones Industrial Average closes at 23,434 on Friday, October 27, up another 105 points after a volatile week and the NASDAQ explodes to the upside on tech earnings on Friday

Price Changes for the week:

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