Coffee Perks Higher
Coffee [KCH0>KCH0] rallied for a second day off ten-day lows, nearly matching contract highs in one of its biggest surges of the year. Coffee is being affected by dry weather conditions in one of the world’s principal growing countries, Brazil. The March contract ended 16.10 higher at 134.60.
From the Implosion-5 List, March sugar [SBH0>SBH0] sank .28 to 5.78.
March T-bonds [USH0>USH0] rallied off 20-day lows to end 11/32 higher at 93 2/32.
December dollar index futures [DXZ9>DXZ9] barely budged, but managed to rise .04 to 101.91. December yen [JYZ9>JYZ9] registered on the Momentum-5 List, and ignored a recent Bank of Japan intervention to end .0031 higher at .9833.
Stock index futures traded lower then slipped sharply in late trading. Dow futures [DJZ9>DJZ9] fell 45.0 to 10935.0, the S&P futures [SPZ9>SPZ9] lost 14.90 to 1395.50 and NASDAQ 100 futures [NDZ9>NDZ9] tumbled 95.50 to end at 2979.00.
Pork contracts fell for a second day. Pork bellies [PBG0>PBG0] slipped 2.825 to end at 76.825 and lean hogs [LHG0>LHG0] gave back .875 to end at 56.175.
In the grains, wheat and corn were quiet while soybean contracts rallied 2%. January soybeans [SF0>SF0], which once again registered on the Multiple Days Low Volatility List, gained 8 3/4 to end at 467 1/4 and soymeal [SMF0>SMF0] added 3.3 to 148.7.