Nearly 2 weeks ago, we issued a research/analysis report indicating our analysts had seen a VIX pattern that forecasted a VIX spike on June 29th of this month to coincide with a potential explosive move in the markets.
The whims and ways of Mother Nature can change the outlook for grain prices quicker and with more conviction than any other fundamental force. Depending on the weather, the grain supplies can rise to burdensome or decline to razor thin in the short space of one growing season. It all comes down to the weather.
Spring wheat has been on fire with winter wheat riding on its coattail. Last week, the rating of spring wheat fell to 40 percent of the crop in good-to-excellent condition. The 10-year average is 72 percent.
Intercontinental Exchange (ICE) Raw sugar futures on ICE extended losses to set a 16-month low on Wednesday as traders shrugged off lower-than-expected cane data from top grower Brazil's center-south region and the July contract's discount to October narrowed ahead of its expiry.
New York Mercantile Exchange (COMEX) Gold eased on Thursday, surrendering early gains as signs this week that central banks might scale back their ultra-loose monetary policy pushed bond yields higher, though a decline in the dollar to its lows for the year lent support.
New York Mercantile Exchange (NYMEX) Oil prices rose to a two-week high on Thursday, extending a rally into a sixth straight session, after a decline in weekly U.S. production eased concerns about deepening oversupply.
Foreign Exchange Market (Forex): The euro rose on Thursday alongside sterling and bond yields as a slew of hawkish comments from central banks signaled the era of ultra-loose monetary policy is ready to sunset across the Atlantic.
Real gross domestic product (GDP) increased at an annual rate of 1.4 percent in the first quarter of 2017, according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2016, real GDP increased 2.1 percent.