Tag: $AA

Orange Juice (FCOJ) had a spectacular jump this week, jumping. 13.48% after the US Department of Agriculture (USDA) crop report forecasts 2023 to bring the worst harvest of Florida oranges in 86 years. They estimate producing 16 million boxes of orange juice, down a historic 61 percent on the 41 million produced in 2022. The biggest prices fall this week were in CME Lean Hog futures tumbling to contract lows as excess supplies and weak demand for U.S. pork fueled … Continue reading “Commodity Traders Weekly Outlook: OJ Soar on Production While Lean Hogs Fall on Demand”

For the second week natural gas led the commodities pile, continuing its recover surging over 14% for the week. Grains again were the week’s biggest losers with Canola, rice, corn, soybeans beans and meal all down over 5% on the week. Last week’s WASDE report impacting prices again. Both gold and silver ran continued lower but did bounce late Friday to mitigate much of the damage as the debt ceiling hopes faded. The move was influenced by the US dollar strengthening … Continue reading “Commodity Traders Weekly Outlook: Natural Gas on Fire, Grains Sell Off”

Natural gas saw some relief this week recovering some of the prior week’s constant selling to close up 0ver 6% for the week. Soybean oil, Silver and OJ futures were the week’s biggest losers. The WASDE report saw volatility amongst the grain which had been up ahead of the release. Both gold and silver ran out of gas, pulling back hard after heavy spec buying took profit. The move was influenced by the US dollar strengthening on safe haven buying. The … Continue reading “Commodity Traders Weekly Outlook: Natural Gas Recover, Orange Juice and Silver Sell Off”

Energy prices continued their steep fall with US benchmark Henry hub falling -12.26% for the week, now down -73% year on year. The crude oil complex continuing to sell off this past week, while Brent and WTI did bounce hard off a level not seen since December 2021, that said oil still lost more than $5.00/bbl for the week. Last Week WTI futures fell -7.09% on the week, Brent was down 6.12%, heating oil was down 2.63% and gasoline down 5.74%. … Continue reading “Commodity Traders Weekly Outlook: Natural Gas and Oil Prices Slump While Grains Recover”

Feeder Cattle saw contract highs, up 10.5% for the week with corn lower by 7.77% and wheat down 1.21%. July platinum rose 8.2% supported by a huge 72,469 ounces single day inflow to ETF holdings on Wednesday. Platinum ETF holdings now expanded 5.9% year-to-date. Palladium ETF holdings significant volatility in daily flows with holdings 4.6% higher year-to-date. June WTI oil settled with a weekly loss for the first in five weeks, down 5.5% for the week. Gold June futures settled … Continue reading “Commodity Traders Weekly Outlook: Feeder Cattle Prices Soar 10%, Corn and Wheat Lower”

Commodities continued to feel the impact of weather and supply impacts. Managed money demand for soft commodities extended to a third week with the tight supply outlook supporting a rally in coffee prices this week of over 8%. Raw sugar futures in the US continued to rise to over ten-year highs accelerating after breaking through the high from late February spurred on by a number of factors. Crude oil consolidated it’s rally, WTI rose 2.3%. Gold pulled back, but closed … Continue reading “Commodity Traders Weekly Outlook: Soft Commodities Coffee & Sugar Prices Higher on Tight Supply”

In a shortened week with Easter commodities markets were highlighted by the OPEC surprise production cut sending oil prices up 6% Monday which also pumped commodities related to biofuels. Ethanol rose 8.56%, Sugar rose 6.2%. WTI and WTI both rose 6.32%. Gasoline rose 6.2%. Natural gas saw no benefit falling 8.17% and was the weakest commodity we cover. Gold closed over $2000 with help from lower yields hitting the USD. There were some safe haven buys and with the BRICs … Continue reading “Commodity Traders Weekly Outlook: Oil and Biofuel Complex Soars Following OPEC Move”

Commodities closed with a flurry Friday along with risk on assets as the first quarter of 2023 came to an end. Copper and oil stood out, both with the same vulnerability. A bullish weekly hammer formed on copper prices, suggesting demand above $4.00 A bullish monthly hammer formed on WTI crude, which suggests demand above $64 which we had seen on a number of assaults being repelled. The oil complex continued to strengthen after it was unwound with the bank … Continue reading “Commodity Traders Weekly Outlook: Bullish Hammers in Oil and Copper”

The energy complex continued to unwind this week as risk came off with the bank chaos and margin risk was taken off. Volatility again soared in all markets, the VIX up 6.7 % after 22% the week prior, though off it’s highs. Silver futures caught a bid after not running with gold the week prior. Copper, with the same vulnerability as oil fell 3.36%, it had been a leader in the risk on movement for commodities and is a key … Continue reading “Commodity Traders Weekly Outlook: Lean Hogs, Oats and Cocoa Prices Higher”