Hot Commodities, 10% In 3 days!
Pork Bellies are up almost 10% in the
last 3 trading days since being highlighted twice in the TradingMarkets.com
Momentum 5 list. After yesterday’s limit up move Pork Bellies
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+4.01% opened higher today and never looked back, closing at the top of today’s
range.
Fears that hot, dry weather in the Midwest will reduce yields of Soybeans
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today’s rise, Soybeans were +37% and Corn was +24% since lows recorded in
February. Above average temperatures in the Midwest and below normal rainfall is
helping boost prices. The entire Grains complex closed higher except for Soybean
Oil
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Crude Oil
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Department report, which is expected to show a decline in US inventories.
British Petroleum Plc, the world’s second largest publicly traded oil company
reported a Q2 profit of $4.98 billion,
+29%. However shares in BP
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earnings are released July 28.
Natural Gas
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China’s central bank said it won’t allow the Yuan to strengthen for the
“foreseeable future” despite the revaluation on July 21, pushing
the Japanese Yen
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PowerRating) -0.86% lower for the third straight day.
Store Sales, W/W change – Actual +0.4%
Consumer Confidence – Actual 103.2 Consensus 106.5
Ashton Dorkins