Closing Commodity Comments 2-2-12

02 Feb in Blog, commodites

Metal Futures--- The precious metals rallied higher again today on strong bullish momentum and the perception that the US dollar is headed lower. Gold futures climbed another 9 dollars to close at 1,758 an ounce while silver futures added an additional 35 cents to close at 34.15 which are 2 month highs; looking like it is headed towards $40 dollars an ounce soon. Platinum futures were quiet today adding only 7 dollars an ounce. Copper futures struggled today on profit taking closing lower by 500 points to close around 3.79. I still believe just as I have been stating in previous blogs that these markets in my opinion are heading much higher and should be bought on dips.

Grain Futures—Wheat futures were sharply lower after a couple of sharply higher trading sessions finishing lower by 12 cents to close around 6.61 a bushel. Soybean futures were quiet to close around unchanged for the trading session settling at 12.17 a bushel. Corn traded higher and lower today before settling unchanged as well to close at 6.43 a bushel. Oat futures which I have been recommending to buy closed higher once again by 3 cents to close around 3.08 a bushel. Tomorrow has the monthly unemployment report which will have an effect on all the markets including the grains.

Currency Futures—The U.S Dollar was unchanged today while keeping an eye on tomorrows big unemployment report which will be announced at 7:30am Central time. The consensus is that the private sector created 125,000 new jobs which I think will be bullish the stock market and bearish the dollar. Many of the foreign currencies were very quiet today trading on both sides of unchanged throughout the afternoon.

Stocks—The nasdaq is going to close at an 11 year high which is remarkable with all the ups and down in the market place in the last 3 years. I am very bullish stocks and commodities and I believe we will have a big gain in both of these assets this year. If the monthly unemployment report is bullish tomorrow look out to the upside in all the markets except for bonds.

Energy Futures—The crude oil market was down $1.50 a barrel today on the defensive because of the large overhang of supply in the market. Like I said yesterday I think crude had to go to 95 dollars a barrel before heading higher which it did this morning. Unleaded gasoline finished lower by 2 cents to close at 2.87 a gallon in light trading today. Heating oil was higher by 1 cent to close around 3.05 a gallon. Most of the action was in crude oil today being sharply lower, however Brent crude oil was up another 80 cents to close near the high of the trading range.

 

Q / C / O

U.S. Dollar Index

Mar 12

+0.067

79.100

78.905

79.315

78.840

14:09

Q / C / O

British Pound

Mar 12

-0.0029

1.5800

1.5834

1.5854

1.5790

14:09

Q / C / O

Canadian Dollar

Mar 12

-0.0007

0.99970

1.00120

1.00210

0.99790

14:09

Q / C / O

Japanese Yen

Mar 12

+0.0011

1.31370

1.31280

1.31560

1.31240

14:09

Q / C / O

Swiss Franc

Mar 12

-0.0015

1.09130

1.09400

1.09590

1.08670

14:09

Q / C / O

Euro FX

Mar 12

-0.0014

1.31440

1.31690

1.31980

1.30860

14:09

Q / C / O

Australian Dollar

Mar 12

+0.0016

1.06570

1.06540

1.07050

1.06270

14:09

Q / C / O

Mexican Peso

Mar 12

+0.0006

0.077775

0.077250

0.077925

0.077075

14:09

Q / C / O

New Zealand Dollar

Mar 12

+0.0019

0.83160

0.82990

0.83460

0.82880

14:07

Q / C / O

South African Rand

Mar 12

+0.0002

0.129300

0.129500

0.129500

0.129300

08:30

Q / C / O

Brazilian Real

Mar 12

+0.0045

0.57765

0.57365

0.57765

0.57365

13:55

Q / C / O

British Pound (P)

Mar 12

-0.0032

1.5797

0.0000

1.5829

1.5797

02/02/12

Q / C / O

Canadian Dollar (P)

Mar 12

-0.0007

0.99970

0.00000

1.00040

0.99970

02/02/12

Q / C / O

Japanese Yen (P)

Mar 12

+0.0008

1.31340

0.00000

1.31340

1.31260

02/02/12

Q / C / O

Swiss Franc (P)

Mar 12

-0.0014

1.09140

0.00000

1.09280

1.09140

02/02/12

Q / C / O

Euro FX (P)

Mar 12

-0.0015

1.31430

1.31790

1.31790

1.31430

02/02/12

Q / C / O

Australian Dollar (P)

Mar 12

+0.0016

1.06570

0.00000

1.06570

1.06410

02/02/12

Q / C / O

Mexican Peso (P)

Mar 12

+0.0006

0.077775

0.077550

0.077825

0.077550

02/02/12

Q / C / O

New Zealand Dollar (P)

Mar 12

+0.0016

0.83130

0.00000

0.83130

0.82970

02/02/12

Q / C / O

South African Rand (P)

Mar 12

unch

0.129025

0.000000

0.129025

0.129025

02/02/12

Q / C / O

Brazilian Real (P)

Mar 12

+0.0038

0.57700

0.00000

0.57700

0.57700

02/02/12

Energies

Futures Prices as of February 2 - 14:20 CST

Links

Contract

Month

Change

Last

Open

High

Low

Time

Q / C / O

Crude Oil

Mar 12

-1.06

96.55

97.11

97.99

95.44

14:09

Q / C / O

Heating Oil

Mar 12

+0.0125

3.0580

3.0500

3.0694

3.0290

14:09

Q / C / O

Gasoline RBOB

Mar 12

-0.0180

2.8742

2.8919

2.8986

2.8410

14:09

Q / C / O

Natural Gas

Mar 12

+0.183

2.565

2.375

2.571

2.340

14:09

Q / C / O

ICE Brent Crude Oil

Mar 12

+0.77

112.33

111.51

112.50

111.04

14:09

Q / C / O

Ethanol

Mar 12

-0.020

2.178

2.180

2.201

2.170

13:14

Financials

Futures Prices as of February 2 - 14:20 CST

Links

Contract

Month

Change

Last

Open

High

Low

Time

Q / C / O

T-Bond

Mar 12

+0-07

144-18

144-18

144-30

144-06

14:09

Q / C / O

Ultra T-Bond

Mar 12

+0-05

158-01

158-12

158-26

157-19

14:09

Q / C / O

10 Year T-Note

Mar 12

+0-055

132-050

132-010

132-080

131-280

14:09

Q / C / O

5 Year T-Note

Mar 12

+0-012

124-012

124-000

124-025

123-300

14:09

Q / C / O

2 Year T-Note

Mar 12

unch

110-117

110-112

110-122

110-112

14:08

Q / C / O

10-Year Swaps

Mar 12

+0-035

118-130

118-180

118-190

118-100

13:36

Q / C / O

5-Year Swaps

Mar 12

+0-030

114-175

114-190

114-200

114-170

14:05

Q / C / O

30 Day Fed Funds

Mar 12

-0.0050

99.8900

99.8950

99.8950

99.8850

13:59

Q / C / O

Eurodollar

Mar 12

+0.0100

99.5800

99.5700

99.5900

99.5650

14:09

Q / C / O

T-Bond (P)

Mar 12

+0-08

144-19

144-27

144-27

144-16

02/02/12

Q / C / O

Ultra T-Bond (P)

Mar 12

+0-06

158-02

0-00

158-02

157-28

02/02/12

Q / C / O

10 Year T-Note (P)

Mar 12

+0-060

132-055

132-055

132-055

132-055

02/02/12

Q / C / O

5 Year T-Note (P)

Mar 12

+0-015

124-015

124-000

124-015

124-000

02/02/12

Q / C / O

2 Year T-Note (P)

Mar 12

unch

110-117

0-000

110-117

110-117

02/02/12

Q / C / O

10-Year Swaps (P)

Mar 12

+0-035

118-130

0-000

118-130

118-095

02/02/12

Q / C / O

5-Year Swaps (P)

Mar 12

+0-030

114-175

0-000

114-175

114-145

02/02/12

Q / C / O

30 Day Fed Funds (P)

Mar 12

unch

99.8950

0.0000

99.8950

99.8950

02/02/12

Q / C / O

Eurodollar (P)

Mar 12

+0.0100

99.5800

99.5850

99.5850

99.5800

02/02/12

Grains

Futures Prices as of February 2 - 14:20 CST

Links

Contract

Month

Change

Last

Open

High

Low

Time

Q / C / O

Wheat

Mar 12

-11-4

662-6

674-2

674-2

657-0

02/02/12

Q / C / O

Corn

Mar 12

+1-0

643-0

641-6

647-0

634-2

02/02/12

Q / C / O

Soybeans

Mar 12

+1-6

1217-0

1213-4

1224-6

1206-2

02/02/12

Q / C / O

Soybean Meal

Mar 12

+1.1

323.4

322.1

327.2

319.8

02/02/12

Q / C / O

Soybean Oil

Mar 12

+0.01

51.19

51.18

51.34

50.86

02/02/12

Q / C / O

Oats

Mar 12

+3-0

308-0

307-4

313-4

303-0

02/02/12

Q / C / O

Rough Rice

Mar 12

-0.100

13.640

13.850

13.895

13.610

02/02/12

Q / C / O

KCBT Wheat

Mar 12

-4-6

717-6

722-4

725-0

713-2

02/02/12

Q / C / O

Spring Wheat

Mar 12

-0-6

836-0

838-4

843-4

831-6

02/02/12

Q / C / O

Canola

Mar 12

-1.10

522.70

524.00

525.80

521.70

02/02/12

Q / C / O

Wheat (P)

Mar 12

-11-4

662-6

669-0

670-0

661-4

02/02/12

Q / C / O

Corn (P)

Mar 12

+1-0

643-0

636-4

646-4

636-0

02/02/12

Q / C / O

Soybeans (P)

Mar 12

+1-6

1217-0

1207-0

1225-0

1207-0

02/02/12

Q / C / O

Soybean Meal (P)

Mar 12

+1.1

323.4

320.3

327.0

320.0

02/02/12

Q / C / O

Soybean Oil (P)

Mar 12

+0.01

51.19

50.95

51.20

50.90

02/02/12

Q / C / O

Oats (P)

Mar 12

+3-0

308-0

0-0

308-0

305-0

02/02/12

Q / C / O

Rough Rice (P)

Mar 12

-0.100

13.640

13.800

13.850

13.640

02/02/12

Q / C / O

KCBT Wheat (P)

Mar 12

-4-6

717-6

719-0

723-4

714-0

02/02/12

Indices

Futures Prices as of February 2 - 14:20 CST

Links

Contract

Month

Change

Last

Open

High

Low

Time

Q / C / O

Mini S&P 500 Index

Mar 12

+2.25

1322.00

1320.25

1326.00

1317.00

14:09

Q / C / O

E-Mini Nasdaq

Mar 12

+4.50

2492.00

2488.50

2500.75

2479.50

14:09

Q / C / O

Mini-Sized Dow

Mar 12

+5

12658

12656

12701

12622

14:09

Q / C / O

E-Mini Russell 2000

Mar 12

+3.10

810.50

809.40

814.90

806.10

14:09

Q / C / O

E-Mini S&P Midcap

Mar 12

+1.50

953.30

951.60

959.10

950.60

14:09

Q / C / O

S&P 500 Index

Mar 12

+2.70

1322.50

1320.60

1325.50

1317.30

14:09

Q / C / O

Nasdaq 100

Mar 12

-2.50

2485.00

2489.00

2502.00

2480.25

14:06

Q / C / O

Dow Industrials

Mar 12

+2

12655

12680

12688

12623

13:49

Q / C / O

Dow Industrials (E)

Mar 12

+7

12660

12665

12696

12637

07:55

Q / C / O

E-Mini SmallCap 600

Mar 12

+4.70

454.30

454.30

454.30

454.30

09:53

Q / C / O

Continuous CRB Index

Feb 12

-2.00

587.00

0.00

587.00

587.00

02/01/12

Q / C / O

S&P 500 VIX

Mar 12

-0.30

21.75

22.05

22.10

21.65

14:09

Meats

Futures Prices as of February 2 - 14:20 CST

Links

Contract

Month

Change

Last

Open

High

Low

Time

Q / C / O

Live Cattle

Feb 12

-0.400

125.300

125.525

125.625

124.950

14:09

Q / C / O

Feeder Cattle

Mar 12

-0.400

155.450

155.725

155.725

154.975

14:02

Q / C / O

Lean Hogs

Feb 12

-0.225

87.400

87.500

87.775

87.200

13:59

Q / C / O

Class III Milk

Feb 12

-0.18

16.17

16.35

16.35

16.12

13:09

Q / C / O

Live Cattle (P)

Feb 12

-0.550

125.150

125.150

125.600

124.950

02/02/12

Q / C / O

Feeder Cattle (P)

Mar 12

-0.475

155.375

155.325

155.650

155.025

02/02/12

Q / C / O

Lean Hogs (P)

Feb 12

-0.050

87.575

87.400

87.750

87.250

02/02/12

Q / C / O

Class III Milk (P)

Feb 12

-0.20

16.15

0.00

16.35

16.15

02/02/12

Metals

Futures Prices as of February 2 - 14:20 CST

Links

Contract

Month

Change

Last

Open

High

Low

Time

Q / C / O

Gold

Feb 12

+8.8

1755.9

1745.1

1761.1

1742.9

13:48

Q / C / O

Silver

Mar 12

+0.473

34.280

33.690

34.350

33.455

14:09

Q / C / O

High Grade Copper

Mar 12

-0.0545

3.7875

3.8300

3.8510

3.7675

14:09

Q / C / O

Platinum

Apr 12

+8.8

1632.0

1620.0

1635.9

1617.5

14:08

Q / C / O

Palladium

Mar 12

+11.30

708.00

697.85

709.50

692.95

14:05

Q / C / O

Mini-Sized Gold

Apr 12

+11.2

1760.0

1748.1

1764.0

1742.8

14:09

Q / C / O

Mini-Sized Silver

Mar 12

+0.486

34.265

33.782

34.333

33.385

14:06

Softs

Futures Prices as of February 2 - 14:20 CST

Links

Contract

Month

Change

Last

Open

High

Low

Time

Q / C / O

Cotton #2

Mar 12

+0.82

94.21

93.40

94.88

92.69

02/02/12

Q / C / O

Orange Juice

Mar 12

-1.20

204.00

205.05

207.80

197.20

02/02/12

Q / C / O

Coffee

Mar 12

+1.50

215.60

214.00

216.15

210.95

02/02/12

Q / C / O

Sugar #11

Mar 12

-0.11

23.48

23.66

23.80

23.41

02/02/12

Q / C / O

Cocoa

Mar 12

unch

2225

2234

2255

2210

02/02/12

Q / C / O

Sugar #16

Mar 12

unch

34.50

34.75

34.75

34.10

02/02/12

Q / C / O

Lumber

Mar 12

-2.00

252.00

253.60

256.30

249.00

13:58

Currencies - Energies - Financials - Grains - Indices - Meats - Metals - Softs

 

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