All Members: Weekend Commodity Wrap-Up

CBOT Mixed at Midday, Long liquidation in the Grains

Nov 24, 11:07 am | Weekend Commodity Wrap-Up

** ARC will release its weekend wire after the close and return to its normal production schedule on Sunday.  ** The morning has been mixed at the CBOT with soybeans trading both sides of unchanged while the grain markets trade mostly lower. Wheat has been the downside leader while soymeal continues to push to new highs. The volume of trade has been holiday restricted with December options to expire at the close. The market is paying attention to the December option expiration with soybeans pinning the $10.00 strike while December Chi wheat targets $4.20 while corn is in the middle of the $3.40 and $3.50 strikes. ARC’s bet is that the CBOT will closed mixed today, and follow the pattern…

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Weekend Commodity Update

Oct 21, 2:51 am | Weekend Commodity Wrap-Up

Commodity Index Commodity indexes finished slightly lower on the week, but did not take out the prior weekly low, keeping a bullish outlook alive. Crude oil prices continue to be supported by declining supplies and strong world demand. However, the late week rally in the US dollar offered resistance to commodity prices and the CCI/CRB Index declined. ARC maintains that higher prices lie ahead into the 4th quarter with funds likely to position long commodities with the spread between stock valuations and the commodities at a record high. One has to be careful about being too bearish commodities in the weeks ahead. ARC doubts that a US dollar rally can be sustained with US Tax legislation likely to encounter more…

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Weekend Commodity Wrap Up

Oct 14, 11:28 am | Weekend Commodity Wrap-Up

Commodity Index    The CRB Index closed higher on the week and broke out of the topside of the recent range. It will be key that the rally carry through next week with the immediate upside price target of $425-425.6O. The US dollar fell with US tax legislation unlikely to gain much traction heading into the end of the year.     The world economic outlook is  brightening at the same time that the US economy lacks a needed fiscal push. ARC would comment that China indicated that it will pay for its crude oil in yuan or gold, and not in US dollars. Many see this as a move for a further appreciation of that yuan and a continued debasing…

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