Commodities Recap For The Week Of May 15, 2020

Commodities Recap For The Week Of May 15, 2020

 Stocks back off during the week
 Precious metals rally across the board, silver continues to lead the way
 Crude oil moves towards $30 per barrel on better fundamentals- Products lag and natural gas and ethanol prices decline
 Grains lower in post-WASDE trading
 Digital currencies retreat after Bitcoin rejects the $10,000 level

The Hecht Commodity Report As Of The Close of Markets- May 13, 2020

The Hecht Commodity Report As Of The Close of Markets- May 13, 2020

• The President pushes for negative interest rates, but the Fed pushes back
• Precious metals stable with gains across the board
• The energy sector slips lower with losses in Brent, oil products, crack spreads, natural gas, and coal. WTI posts a gain
• Gains weak in post-WASDE trading
• Stability in copper and base metals, the Baltic Dry Index declines by 24.7% in a sign of global economic weakness

Commodities Recap For The Week Of May 8, 2020

Commodities Recap For The Week Of May 8, 2020

 Stocks rally in a continuation of the worst economic data of our lifetime
 Silver leads the way on the upside in precious metals
 Crude oil continues to post gains- New short-term highs in natural gas and then a correction
 Grains were quiet as they await the May 12 WASDE report
 Paul Tudor Jones lights a bullish fuse under Bitcoin and digital currencies

Commodities Recap For The Week Of May 1, 2020

Commodities Recap For The Week Of May 1, 2020

 Volatility in stocks- Economic data remains problematic
 Precious metals move mostly lower
 Crude oil makes a significant comeback as the energy commodity and products post gains
 Sugar and lean hog prices post double-digit percentage gains with hogs up over 20% on the week
 Digital currencies post gains

Commodities Recap For The Week Of April 24, 2020

Commodities Recap For The Week Of April 24, 2020

 Stocks move lower but stimulus continues to hold the market up
 Gold higher, but other precious metals prices move to the downside
 Crude oil tanks- WTI downs over 32% and Brent falls over 23% since last week. WTI trades negative for the first time in history
 Most agricultural commodities post declines
 Unemployment continues to rise with 4.4 million more applications for benefits bringing the total to over 26 million over the recent weeks

The Hecht Commodity Report As Of The Close of Markets- April 15, 2020

The Hecht Commodity Report As Of The Close of Markets- April 15, 2020

• Massive injections of stimulus continue to calm markets, but Coronavirus continues to take a toll on the world
• Precious metals post gains- Gold rises to a new high during the week
• A 9.7 million barrel per day production cut in oil does not provide support- Nearby NYMEX crude oil settled below $20 per barrel on Wednesday
• Natural gas fells below the $1.60 level
• Strength in industrial commodity prices- Weakness in agricultural products

Hecht Commodity Report

Category: Hecht Commodity Report

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