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Recap Of The Week For September 15, 2017

Recap of the week for September 15, 2017

September 15, 2017


  • A rebound in the dollar weighs on commodities prices
  • Industrial metals and minerals continue to come under pressure led by copper
  • Gold down 2.05% on the week
  • Silver falls 2.22% for the week
  • Platinum down 4.0% and at the $970 level
  • Palladium down 1.29% since last report
  • Copper falls 2.98% on the week and follows through on last week’s bearish key reversal trading pattern on the weekly chart
  • Iron ore adds to last week’s loss falling another 3.45% for the week
  • The Baltic Index bucks the trend in industrials and moved 5.02% higher on the week
  • Lumber down 2.29% this week
  • WTI crude oil moves up 5.08% on the week and flirts with the $50 per barrel level on October futures
  • Brent climbs 3.29% as Brent premium over WTI retreats to close at $5.10 premium to WTI in November down 62 cents on the week
  • Gasoline up 0.81% on inventory withdrawals, and heating oil gains 1.80% on the week
  • Crack spreads correct from highs as the gasoline crack was down 8.76% and heating oil crack moved 4.24% lower on the week with the gasoline processing spread just below $20 and the heating oil crack north of $25 per barrel
  • Natural gas above $3 and moves 4.95% higher as inventories build by 91 bcf for the week ending on September 8
  • Ethanol up just 0.65% for the week on recent strength in gasoline and slight rebound in corn
  • The September WASDE was bearish but it appears grains have run out of selling
  • Soybeans up 0.70% on the week
  • Corn down just 0.56%on the week
  • CBOT wheat rebounds 2.57% for the week
  • Sugar up 3.26% this week
  • Coffee screams 8.23% higher on the week
  • Cocoa up 3.93% on the week
  • Cotton falls 7.40% as Hurricane Irma misses South Carolina and WASDE shows increased production and inventories
  • FCOJ corrects 2.82% lower in post Hurricane Irma trading
  • Live cattle rallied just 0.40% on the week
  • Feeder cattle move 1.50% higher on the week
  • Hogs fall 1.89% higher on the week
  • The dollar index corrects by 0.66% to the upside, but the bounce is less than exciting, so far
  • December long-Bonds correct to the downside and close at 155-01 down 2-16 on the week as FOMC meets next week
  • Market will be watching if Fed hikes the Fed Funds rate and if they outline plans for balance sheet normalization
  • Dow Jones Industrial Average trading around 22,268 at the close on Friday, September 15, up 470 points on the week and at a new record high

Price Changes for the week:

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