London Stocks Close Slightly Higher

FTSE 100 closes 0.1% higher at 5766.55, in the black but off session highs with the market likely reacting to the fact that the ECB offered no hint on further stimulus measures at its post rates decision press conference. Continue Reading…

July soybeans were trading 1/2 of a cent lower late in the overnight session. China futures were down 0.7% overnight. Palm oil futures in Malaysia were down 2.4%. Asian equity markets were weaker ahead of the European debt auctions overnight. Continue Reading…

With another new low for the move overnight July silver reached down to the lowest level since April 25th. Residual fears of slowing in the US, concern toward rising debt yields in the Euro zone and lackluster physical demand expectations has left the bear camp confident. Continue Reading…

June natural gas prices took on a slightly higher track during the initial morning hours as they tried to consolidate yesterday’s sell off. It is possible that some of the downside action in the market yesterday came from reports of a large energy hedge fund manager closing its fund, and potentially unwinding positions. Continue Reading…

July cocoa is slightly higher this morning after making a substantial recovery from early lows, in what has already been a volatile trading session. Today’s early sell-off may have been triggered by a flare-up of Euro zone anxiety, although near-term supply concerns are clearly helping to keep cocoa prices in an upward trajectory. Continue Reading…

June crude oil prices continued their down trending action from yesterday during the overnight and early morning hours, registering a lower low in the process. The market remains under residual pressure from yesterday’s weak employment data in Europe and US, as well as weaker than expected Chinese service sector activity in April, which has weighed on demand prospects for crude oil. Continue Reading…

July wheat was trading 6 3/4 cents lower late in the overnight session. Outside market forces look slightly negative today with some strength in the USD and a weaker tone to equity markets. There were no deliveries against the May wheat this morning with the total for the month at 55. Continue Reading…

The market seems to have enough bearish news to absorb over the next week to see further downside pricing pressures. The improving weather situation in Texas plus news that India has lifted the export ban and will be in position to supply China for short-term needs is likely to begin to pull the old crop premium out of the market. Continue Reading…

The bull camp in Treasuries might be a little discouraged with the lack of initial upside extension overnight, as global slowing views have remained in place. It would also seem like US Treasuries could have seen some measure of flight to quality buying in the wake of rising Italian and Spanish debt yields overnight. Continue Reading…

With another range down extension to start today, it is clear that the gold trade hasn’t been able to foster hope that the US Fed will be inspired to act quickly to head off what appears to be a definitive loss of economic momentum. Continue Reading…