From the daily archives: Monday, November 20, 2017

Keystone XL clears Nebraska hurdle

On November 20, 2017 - 3:01 PM By

[Daniel J. Graeber, UPI] State regulators approve of the route for the pipeline that was once an oil-industry scapegoat, but ordered TransCanada to avoid a sensitive ecological area in the state. A decision spanning two U.S. presidential terms came to a head Monday when regulators in Nebraska cleared a remaining hurdle for the Keystone XL oil pipeline. […]

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[David Gaffen, Reuters] Oil prices slipped on Monday, extending recent weakness ahead of an OPEC meeting next week, while a rally in the dollar negatively affected commodities across the board. Brent crude futures LCOc1 were down 84 cents at $61.86, or 1.4 percent, by 11:37 a.m. EST (1637 GMT), while U.S. West Texas Intermediate (WTI) […]

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Morning Grains 11/20/17

On November 20, 2017 - 10:38 AM By

WHEAT
General Comments: Wheat closed higher in Chicago and a little higher in Minneapolis to close out the week. Chicago was still a little lower for the week. Futures traders still hope for improving demand as Egypt was able to buy despite a court ruling there that prohibited Ergot in any Wheat imports. The […]

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Today is the Last Trading Day for the NYMEX Dec Crude Oil in NY.  We ask that you do not wait until the last minute to exit this market. Tomorrow, Tuesday, Nov 21st is the First Notice Day for the ICE Dec Coffee.  Anyone LONG the ICE Dec Coffee will be at risk of taking […]

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Morning Softs 11/20/17

On November 20, 2017 - 10:14 AM By

COTTON
General Comments: Cotton was higher again Friday in response to very strong weekly export sales and on ideas that overall demand has been underestimated. The report gave the market Bulls a shot in the arm at a time when the futures market could be bottoming. The chart patterns suggest that futures could move […]

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We start out Monday morning with Export Inspections at 10:00 A.M., Milk Production at @2:00 P.M. and Cop Progress at3:00 P.M. The Grains failed to keep the rally going after Fridays surge in that trading session starting this holiday week. Corn harvest is very close to being over depending where you are geographically. In the […]

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Oil Up Cycle. The Energy Report 11/20/17

On November 20, 2017 - 9:05 AM By

Oil traders have amassed a record long position in oil as global demand rises and supply of distillate stocks remain tight. Money managers increased their net longs by 28,297 contracts to 409,963 or equivalent of nearly 410 million barrels of oil, according to Reuters. This comes as U.S. shale producers hold off on adding oil […]

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