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  • Most precious metals steady
  • The dollar index edges higher- Stocks higher on the week
  • Oil and oil products post gains- Crack spreads higher- Selling pressure in natural gas
  • Baltic Dry Index up over 85% on the week
  • Weakness in wheat- Other agricultural and soft commodities on either side of unchanged

Highlights in commodities:

  • August gold rose by 0.90% on the week, settling at $1753.00 per ounce
  • July silver rose 2.09 % for the week as the precious metal settled at $17.847 per ounce on June 19
  • July platinum up 1.01% on the week. July platinum was at a $925.70 per ounce discount to August gold futures, which widened since last week
  • September palladium fell 1.55% and settled at $1,908.40 per ounce. Rhodium fell $200 per ounce to a midpoint of $7,000 over the past week
  • July copper was 0.42% higher to the $2.6110 level since June 12
  • July iron ore futures moved 1.55% lower over the past week
  • The BDI powered 85.34% gain since June 12 to the 1,555 level
  • July Rotterdam coal moved 0.77% higher since last week
  • July lumber was 18.84% higher since June 12 and was at the $421.40 per 1,000 board feet level
  • July NYMEX crude oil rolled to August and rose 8.23%. The August contract closed the week at $39.83 per barrel
  • August Brent crude oil moved 8.85% higher since last week to $42.19 per barrel
  • The premium for Brent over WTI in August closed Friday at the $2.46 level as the spread was up $0.21 per barrel since last week
  • July gasoline rose 13.10% while July heating oil futures posted a 9.99% gain over the past week
  • The gasoline crack spread in July was 22.88% higher since last week. July heating oil crack moved 10.83% to the upside since June 12 as gasoline and heating oil outperformed crude oil
  • Natural gas fell 3.58% on the July futures contract closing the week at $1.669 per MMBtu. The EIA reported an injection of 85 bcf into storage on Thursday for the week ending on June 12
  • July ethanol rose 3.51% on the week on strength in gasoline
  • July soybeans moved only 0.60% higher since last week
  • July corn was 0.76% higher on the week on strength in ethanol
  • CBOT July wheat fell 4.13% since last week to just over the $4.80 per bushel level. July KCBT wheat trading at a 53.00 cents discount under July CBOT wheat as the discount moved towards the historical norm by 0.50 cents per bushel since last week
  • October sugar rose 1.25% since June 12 and closed at 12.18 cents per pound on Friday
  • September coffee posted a 0.98% loss since last week as the price fell to 95.90 cents per pound level
  • September cocoa fell 2.76% since June 12
  • December cotton rose 1.32% since last week as the fiber futures were at the 59.81 cents per pound level
  • September FCOJ futures fell 2.05% since the previous report to $1.2200 per pound
  • August live cattle moved 0.08% higher since last week
  • August feeder cattle rose 1.11% since June 12
  • August lean hog futures were 3.30% lower over the past week
  • The June dollar index futures contract rose 0.59% on the week to 97.577
  • September Long-Bond futures were trading at 177-14 up 0-12 for the week
  • The Dow Jones Industrial Average closes at 25,871 on Friday, June 19 up 265 points from June 12. The S&P 500 rose 1.86% since last week. The VIX was trading at around 35.12 on Friday down 0.62 on the week as stocks edged higher
  • Bitcoin was trading at $9,250.66 on Friday down $198.06 or 2.10% since June 12
  • Ethereum was trading at $228.02 on Friday, down 3.61% since the last report

 

Price Changes for the week:

DBC closes at $12.33 per share, up 32 cents since May 15

DBC is the Invesco DB Commodity Tracking product which represents a diversified basket of commodities futures contracts, has net assets of $818.32 million, and trades an average daily volume of 1,166,551 shares. The fund summary for DBC states that it holds a diversified group of commodities futures but is weighted towards energy. The average volume fell, net assets were steady over the past week, and the price of the ETF moved higher.

 

Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal.  This document does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein, or any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction.   

                                                         

 

 

 

 

 

 

 

 

 

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