About The Author

Marc Nemenoff

Marc Nemenoff gives his readers an insight into the decision making process of a professional trader and analyst with 35+ years of market experience. He covers the markets with which he has had the best success throughout his career with. Contact Mr. Nemenoff at (312) 264-4310

Financials:  June Bonds are currently 31 higher at 140’18, 13 lower for the week. !0 Year Notes are 14 lower at 119’11, up 1 for the week. 5 Year notes are 10 lower at 112’27.5, up 6 for the week. Yields are as follows: 2 Year 2.58%, 5 Year 2.82%, 10 Year 2.82%. 30 year 2.92%. The yield curve remans pretty much unchanged for the week with the spread between the 5 and 10 year notes coming in to even money from the 5 year being .04% over the 10 year. The market still anticipates a 0.50% rate hike at the next FOMC meeting. Support for June Bonds is currently 138’24 and resistance 142’16.

Grains:  Dec. Corn is currently 3’2 higher at 752’6, up 10’6 for the week. Nov. Beans are 2’4 higher at 1527’2,up 3’0 for the week. Dry weather, a cut in acreage and the Russia/Ukraine war all point to higher prices with the only fly in the ointment being a strong dollar. Corm looks poised to test resistance at 838’0 basis the May contract. Over all I still like the long ne crop/short old crop spreads.

Cattle:  June LC closed at 135.02, down 3.77 for the week. Aug. LC closed at 127.02 and Aug. FC  at 168.95. Last Friday’s Cattle on Feed Report showed:  On Feed 1o2%  vs. estimates of 100.4%. Placements100% vs. estimates of 92%. Marketing’s were 98% in line with expectations. The market opened Monday sharply lower due to a bearish placement number. I still like long LC/ short FC spreads (August contracts) because of high feed costs.

Silver:  July Silver is 41 cents lower at 23.11 down 1.73 for the week. As yields on treasuries rise  precious metals are at a disadvantage as the market looks toward higher returns. Support is 22.85 and resistance 24.40.

S&p;  June S&P’s are 35.00 higher at4215.00, down 288.00 for the week. Short term trends have once again turned down. Support is 4112.00 and resistance 4360.00.

Regards,

Marc Nemenoff

Questions? Ask Marc Nemenoff today at 312-264-4310