The following CME Group margins are changing at the close of business today: Crude Oil Combined Commodity Period 1 Period Code 1 Old Margin New Margin Margin Change NY-CL 1 Sep’17 2,500 2,400 -100 NY-CL 2 Oct’17 2,500 2,375 -125 NY-CL 3 Nov’17 2,450 2,350 -100 NY-CL 4 Dec’17 2,425 2,325 -100 NY-CL 5 Jan’18 […]Continue Reading →
Oil prices had its biggest up move of the year, rising 3.3% on lower supply and higher demand. I don’t mean to be so fundamental about the fundamentals, but in truth, that’s why we soared! Oil prices surged even before the American Petroleum Report (API) reported another massive crude oil crude withdrawal. The 10.23-million-barrel draw, […]Continue Reading →
This morning we have June Home Sales at 9:00 A.M., EIA Energy Stocks at 9:30 A.M., Dairy Product Sales at 2:00 P.M., FOMC Meeting and more Earnings. On the Corn front the market is fighting on a lesser percentage of good to excellent rating, weather and carryover from last year. The Grain complex was a […]Continue Reading →
[Myra P. Saefong, MarketWatch] WTI oil settle 3.3% higher Tuesday OPEC members can’t take all the credit for oil’s rally Tuesday, which saw prices score their biggest single-session gain of the year. News of cuts to oil-and-gas exploration spending and signs of a potential slowdown in U.S. output also played roles in the bullish shift […]Continue Reading →
Late last week the headlines rang out “JUICE IS FREE !!!!”. Orange juice immediately dropped 20 cents on that news. OK just kidding folks, that’s just how my warped brain thinks. But remember other OJ, 3 strikes and you’re out.
Metals: Fed inaction on interest rates continues to weaken the US Dollar which has […]
Today we start the day with Consumer Confidence at 9:00 A.M., API Energy Stocks at 3:30 P.M and the FOMC Meeting today and tomorrow. On the Corn front the USDA Crop Progress was not exactly glowing with Corn good to excellent rating down 2% at 62% with Silkings at 67% up 27%. Traders still seem […]Continue Reading →
Oil prices are on the rise as Saudi Arabia pledges to reduce oil exports and the fact that US shale pains are becoming more obvious to the market. Halliburton is warning that the US oil rig count is about to plateau or “peak shale” which we predicted in my recent energy webinar and for an […]Continue Reading →
This morning we start of the week with a weak Grain complex and a higher U.S. dollar. At 9:00 A.M. we have Existing Home Sales followed with Export Inspections at 10:00 A.M., Cold Storage at 2:00 P.M. which could be further bullish news to the Live Hogs and we have Crop Progress at 3:00 P.M. […]Continue Reading →
OPEC and non -OPEC leaders are wrapping up their meeting in St. Petersburg Russia and it looks like it has yielded some positive results. Not only did Nigeria agree to cap their oil production output at 1.8 million barrels a day, the Saudi Oil Minister Khalid al Falih, speaking after the meeting broke up, seemed […]Continue Reading →
Today at 2:00 P.M. we have Cattle and Cattle On Feed reports. News from Informa Economics IEG has adjusted production forecasts for Corn, Barley and Spring Wheat due to dry conditions and above-normal temperatures in the Northern Plains and Western Corn Belt. Informa Economics IEG will issue their next product survey for all crops in […]Continue Reading →
For oil and the markets, Russia is all the rage. There is the big OPEC/non-OPEC pow-wow in Russia and reports that Special Prosecutor Robert Mueller is opening an investigation into President Donald Trump’s business transactions with Russia one day after the President said that would be a red-line for him. Of course Robert Mueller had […]Continue Reading →
Busy morning starting at 7:30 A.M. with Exports Sales, Initial Jobless Claims and Producer Price Index (PPI). The weekly EIA Gas Storage will follow at 9:30 A.M. Also the European Central Bank (ECB) kept their Interest Rates in check and the U.S. dollar is continuing to gain ground after being in sell off mode. The […]Continue Reading →
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