London Stocks End Flat; US Data Erase Early Rally

FTSE 100 ends flat at 5295.87 to post a 7.7% decline for May, its worst monthly performance since October 2008. The index gives up earlier gains after disappointing data releases from the US, notably a downbeat Chicago PMI print. Ongoing concerns in the euro zone don’t help either. Continue Reading…

July soybeans were trading 6 cents lower near 7:30 cst. China futures closed down 0.3% while Palm oil futures fell 2.1%. Chinese stocks were down again and that also resulted in a monthly loss in most equity market measures. Continue Reading…

Silver seemed to follow in the footsteps of gold yesterday and with higher equities this morning it would not appear as if physical commodities are destined to see initial pressure today from the risk-off environment. Continue Reading…

July cocoa has extended yesterday’s late recovery bounce into this morning’s session, and is finding support from a mild revival of risk sentiment for commodity markets. While Euro zone debt problems continue to weigh on cocoa prices, a likely “yes” result for Ireland’s EU fiscal treaty referendum should give the market an additional boost later on in the session when results start to come in. Continue Reading…

July natural gas prices registered a lower low in overnight action and appeared to be on track for their fifth consecutive negative close. Early morning weakness in July natural gas has brought prices down toward a shelf of support offered up by the early May congestion zone of $2.338-$2.362. Continue Reading…

July wheat was trading 3 cents lower near 7:30 am cst. Outside market forces look slightly positive overnight but gains in US equity markets have diminished and the USD is only slightly lower. Continue Reading…

The market remains in a steep downtrend and the high open interest suggests there could be increased volatility ahead. There is some supply uncertainty for the new crop season but global beginning stocks are at a record high and the USDA believes that world ending stocks for the 2012/13 season will increase by near 7 million bales to a whopping 73.75 million bales which is a new record high and represents 67.1% of annual usage. Continue Reading…

July crude oil prices trended higher during the overnight and early morning hours in attempt to correct yesterday’s more than 3.2% decline. The crude oil market has garnered support from private inventory data late Wednesday that showed an unexpected draw last week, as well as a rebound in outside markets. Continue Reading…

Not surprisingly, the US Treasury markets are seeing a measure of long profit taking to start today. Perhaps the setback this morning is month ending profit taking by the longs, or perhaps it is simply a slight bounce in global equity markets that has prompted some liquidation of bonds and notes off a temporary reduction in flight to quality interest. Continue Reading…

After mounting a rather impressive recovery effort yesterday, from a fresh new low for the move, August gold has managed to start out the Thursday US trading session a bit higher and right on yesterday’s high. Continue Reading…