Grains Get Dutch Treat
Marc Dupee will be out of the
office until April 9. In his absence this column is being written by
TradersWire’s Duke Heberlein.
Grains rallied across the board, buoyed by favorable news
and weather reports. Soybeans
(
SK1 |
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gainer, rallying on news that livestock feed can begin to move through the port
of Rotterdam, Holland once again. SK1 finished up 5 1/2 at 442. Corn
(
CK1 |
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precipitation through the corn belt into the first weeks of April to end the day
up 2 3/4 at 209 3/4. May wheat
(
WK1 |
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mostly due to profit-taking by short positions, soybean oil
(
BOK1 |
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added .1400 to close at 15.79 and soymeal
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SMK1 |
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up 3.3 at 153.40.
The softs were strong today as well, as cocoa
(
CCK1 |
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continued its rebound off the 50% retracement level of its recent climb higher,
gaining 27 points to close at 1063. May cotton
(
CTK1 |
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to pull back from its recent lows, rising 0.97 to 49.03. Orange juice
(
OJK1 |
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(
SBK1 |
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the session at 8.46 and coffee
(
KCK1 |
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downtrend, shooting up 1.75, closing at 61.85.
Stock index futures contracts pulled back from their
recent knifes to low, with the Dow futures
(
DJM1 |
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close at 9785 going into the Globex overnight trading, and the S&P
futures
(
SPM1 |
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(
NDM1 |
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in the Dow and Spoos contracts drove bonds lower, dropping the T-bonds
(
USM1 |
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PowerRating) 22 ticks to 105^14 and the 10-year notes
(
TYM1 |
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8 to close down at 106^15.
April live cattle
(
LCJ1 |
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small rally mid-session, closing .075 to the positive at 77.325. Feeder
cattle
(
FCH1 |
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their slide, aided by the release of news from Russia that it will also ban
imports of pork products from European countries to combat hoof-and-mouth
disease. Lean hogs
(
LHJ1 |
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PBK1 |
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lost .900, ending at 93.575.
Crude
oil
(
CLK1 |
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ending in positive territory at 27.46, up .16. Two of the three remaining
energies also ended in the green, with unleaded gasoline
(
HUK1 |
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gaining .0101 to .9237 and natural gas
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NGK1 |
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adding .050 to 5.38 when trading was done. Heating
oil
(
HOK1 |
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June dollar index futures
(
DXM1 |
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very light trade, shedding .78 to end the session at 115.34. The inverse
currencies rallied in unison accordingly, with the British pound
(
BPM1 |
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(
ECM1 |
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(
JYM1 |
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rose .0011 to .8236, Swiss francs
(
SFM1 |
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valuation, ending the day at .5855 and the Canadian dollar
(
CDM1 |
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from its recent downtrend, sliding higher by .0034 to .6426.
Finally, metals were
mixed, with gold
(
GCJ1 |
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(
SIH1 |
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(
HGH1 |
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PowerRating)lost
.20 to end at 78.