Frankfurt Stocks Close Lower

DAX closes 1.2% lower at 5978.23 extending intraday losses as worse-than-expected US factory orders further inflame concerns about slowing economic growth. Apart from worries about the euro-zone debt crisis, the decline in China’s non-manufacturing purchasing manager’s index for the second consecutive month in May also weighs on sentiment, traders say. Continue Reading…

(83,47) CRUDE OIL confirmed on Friday a weak closing plunging this morning even toward 81,20 before finding some support. The indicators of the daily chart are well negative and also heavy oversold still showing potential positive reversals. Continue Reading…

(1615,40) GOLD confirmed a nice rally on Friday confirming our s/t target at 1602,30 before however extending further on the upside by testing even the 1630 area. The indicators of the daily chart are now well positive supporting further strength. Continue Reading…

July soybeans were trading 6 cents higher near 7:30 cst. China futures closed down 0.4% following the weak US economic news on Friday. Palm oil futures fell 1.6% to a new low for the year. Asian and Chinese equity markets were weaker again overnight with some measures falling down to the lowest levels of 2012. Continue Reading…

Like gold, the silver market has started out on a weaker footing, but it does seem as if the silver market was able to hold a large portion of last Friday’s steep gains. With across the board weakness in the metals complex to start today and ongoing weakness in many global equity markets, it would seem like the silver trade remains concerned about the global economy. Continue Reading…

July cocoa was able to show some resiliency late Friday with a sizable rebound from a new contract low but still finished last week with a loss of $47, and has now lost more than $250 during the past three weeks. Continue Reading…

July natural gas prices registered a close last week below the early May trading range, but has shown some positive upside action this morning. Perhaps some of the early support in the natural gas market comes as longer-range weather maps forecast above normal temperatures throughout the northeast out to June 13th. Continue Reading…

July wheat was trading 11 1/4 cents higher near 7:30 am cst. Outside market forces look supportive this morning with a bounce in equity markets and some weakness in the USD. Selling pressures emerged late on Friday to drive the market down to the lowest level since May 16. Continue Reading…

With a continued bearish tilt to outside market forces, the demand bears are still in control for cotton. The market is already looking at record high beginning and ending stocks for the world supply/demand outlook and recent actions in Europe have traders believing that the global demand pace may continue to slide. Continue Reading…

July crude oil prices grinded lower throughout the overnight and early morning hours and registered a new low for the decline. Prices were down $11.00 from last week’s high into the early morning low, and that sharp drop makes them vulnerable to a near term rebound. Continue Reading…