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Recap Of The Week For September 29, 2017

Recap of the week for September 29, 2017

September 29, 2017

Highlights:

  • The third quarter of 2017 comes to an end
  • Commodities post gains as the dollar falls over the three month period
  • Gold down 1.38% on the week
  • Silver falls 2.08% for the week
  • Platinum down 2.25% and now at a discount to palladium
  • Palladium up 1.95% since last report and remains the strongest precious metal
  • Copper up just 0.03% on the week but it continues to make lower lows
  • Iron ore continues to decline, down another 2.21% for the week
  • The Baltic Index turns lower following industrial commodities down 5.37% on the week
  • Lumber posts a 2.31% gain this week and is back over $400 per 1,000 board feet
  • WTI crude oil up 1.99% on the week and makes higher highs
  • Brent moves 0.95% higher as Brent premium over WTI makes a higher high at $7.15 and closes the week at a $5.70 premium to WTI in November down 44 cents on the week as Brent rolls to December on close Friday
  • Gasoline down 2.26% on inventory builds, and heating oil down just 0.05% on inventory declines
  • Crack spreads move lower as products underperform crude oil; the gasoline crack falls 14.88% and heating oil crack declines 3.49% on the week
  • Natural gas little changed as it rises just 0.17% on the week after inventories build by 58 bcf for the week ending on September 22
  • Ethanol down 0.27%
  • Grains mixed as market awaits October 12 WASDE
  • Soybeans down 1.63% on the week as the crush spread moved lower lead by soybean oil
  • Corn up 0.50%on the week
  • CBOT wheat down 0.28% for the week
  • Sugar falls 3.69% this week towards the bottom of its trading range
  • Coffee loses 4.76% on the week as Brazilian weather improves
  • Cocoa rebounds 3.03% on the week
  • Cotton virtually unchanged down 0.01% in listless trading
  • FCOJ up 1.06% for the week
  • Live cattle turn lower after rebound losing 1.96% on the week
  • Feeder cattle post a 2.30 % loss on the week
  • Hogs rebound moving 5.73% higher since last Friday’s close
  • The dollar index rebounds 1.00% and approaches technical resistance at 93.84 on the December dollar index futures contract
  • December long-Bonds move lower and close at around 152-20 down 1-24 on the week as FOMC starts balance sheet normalization begins next week
  • Stocks post another quarterly gain, the eighth in a row with the Dow Jones Industrial Average trading around 22,405at the close on Friday, September 29, up 55 points on the week

Price Changes for the week:

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