DJ USDA Cold Storage: Totals-Jan 24
WASHINGTON (Dow Jones)–U.S. stocks of pork bellies in freezers
totaled 39.675 million pounds, in December, 12.8% above the previous
month, and 120.6% above December 2016, the U.S. Department Agriculture
In thousand pounds.
Dec 31 Nov 30 Dec 31 Nov […]
General Comments: Cotton was a little higher after trading both sides of unchanged. The weaker US Dollar supported demand ideas and buyers. The market has not been able to extend the rally since last week and a bigger corrction might be coming. Current buying is reflecting the fact that merchants need to buy […]
Financials: Mar. Bonds are currently 17 higher at 149’00, 10 Yr. Notes 4.5 higher at 122’11 and 5 Yr. Notes 2 higher at 115’05.5. The long Dec.2018/short Dec. 2019 Eurodollar spread is now at 27 points, slightly above my objective of 26 points. Take profits. Grains: Mar. Corn is fractionally higher at 357’0, Mar. Beans […]Continue Reading →
We start off the day with Export Sales and Initial Jobless Claims at 7:30 A.M., New Home Sales at 9:00 A.M. and EIA Gas Storage at 9:30 A.M. Words from U.S. Secretary of the Treasury Steve Mnuchin at the 2018 World Economic Forum Annual Meeting in Davos, Switzerland embracing a lower U.S. dollar really […]Continue Reading →
U.S. oil inventories continued to streak lower for a record breaking 10 weeks in a row even as U.S. oil production is apporoching record levels. Demand for oil remains outstanding even as refiners start the long descent into seasonal maintenance. Now, a weak dollar environment and more talk from Davos from the major oil players […]Continue Reading →
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