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.


Marc Nemenoff

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