From the daily archives: Wednesday, November 8, 2017

Oil Futures Settle Wednesday Mixed

On November 8, 2017 - 7:28 PM By

[George Orwell, DTN Energy Reporter] New York Mercantile Exchange spot-month oil futures settled mixed Wednesday afternoon, with West Texas Intermediate crude falling for the second straight session and pulling down ULSD futures with it after headline figures by the Energy Information Administration showed a surprise crude oil stock build and another surge in domestic crude […]

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[Allen Sykora, Kitco News] There are doubts that the Federal Reserve will actually hike U.S. interest rates as much as policymakers think, leaving many analysts bullish on gold for 2018. They also cite potential for geopolitical flare-ups, improving physical demand in key buying nations India and China, and investment demand as a hedge against any […]

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Crude oil price pauses after huge rally

On November 8, 2017 - 2:09 PM By

[Bloomberg via Irish Examiner] Traders who have steadily boosted crude since the month began took a deep breath yesterday, with prices dropping on concerns of an overbought market and rising shale production. Earlier this week, the price of Brent for January settlement had raced above $64 a barrel as arrests of senior officials in Saudi […]

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Morning Grains Report 11/08/17

On November 8, 2017 - 11:26 AM By

DJ CBOT Delivery Intentions: Totals – Nov 8
Source: CME Group
Contract Quantity Next Trade
Commodity Month Delivery Day Assigned Today Date Available
SOYBEAN November Nov. 09, 2017 133 Nov 02, 2017 DJ U.S. Corn, Soybean Production Estimates — Survey
CHICAGO–The following are analysts’ estimates for 2017 U.S. corn and […]

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Morning Softs Report 11/08/17

On November 8, 2017 - 10:32 AM By

COTTON
General Comments: Cotton was lower and futures closed near the low-end of the recent trading range. Chart patterns imply that further weakness is coming, although real prices moves might have to wait until the USDA reports are released tomorrow. Speculators were the best sellers, and some were reducing¬†long positions before the reports and […]

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Today we have the EIA Energy Stocks at 9:30 A.M. after a not so bullish API number with the build in Gasoline disappointing for bulls. The API showed draws in Crude of 1.562 million barrels, Gasoline showed builds of 520 thousand barrels, Distillate showed draws of 3.133 million barrels and Cushing Oklahoma builds of 812 […]

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There is a temptation to attribute the recent rise in oil prices to just the uncertainty of the political purge that we have seen in Saudi Arabia, but if you think that you are missing the larger point. There is a reason why we have seen oil prices hit a 2 and a half-year high […]

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