Thursday April 19 Review

BASE METALS:

Copper was basically flat to the downside in New York trading, on slowing demand out of China and the U.S.

July copper slide roughly 0.1% to $3.638 a pound.

 

CRUDE OIL

Crude Oil fluctuated during the U.S. trading session when unemployment rose more than forecast.  Applications for unemployment benefits along with leading indicators rose for a sixth month in March.

May crude oil nudged $0.06 to 102.73 a barrel on the Mercantile Exchange.  June Brent oil settled $0.86 higher to $118.83 a barrel on the London-based ICE exchange.

 

NATURAL GAS

Natural gas continue to fall, dropping to a 10 year low when the government inventory report showed little change to a U.S. stockpile surplus.  May natural gas fell $0.024 to $1.927 per million British thermal units on the Mercantile Exchange. Natural gas intraday price saw a low of $1.915 not seen since Jan. 29, 2002.

 

OIL PRODUCTS

For the fifth day in a roll gasoline fell on speculation the U.S. economy could be heading into a soft patch.
May gasoline declined $0.15 to $3.2012 a gallon on the Mercantile Exchange.
May heating oil for delivery rose $0.0118 cents to $3.13 a gallon.

 

LIVESTOCK

Demand for U.S. beef and hogs help push cattle futures higher. June contracts climb 0.5% to $1.15425 per pound on the Chicago Mercantile Exchange. June Hog contract rose 0.6% to 87.875 cents a pound on the Mercantile.

August Feeder-cattle fell roughly 0.1% to $1.55475 a pound on Chicago Mercantile Exchange.

 

PRECIOUS METALS

As the dollar lost ground gold futures rose.  June gold contracts rose 0.4% to $1,646.70 a troy ounce after reversing an earlier drop of roughly 0.5% at the market open.

May Silver rose 1.1 percent to $31.825 a troy ounce.

 

GRAINS and OILSEEDS

For the first time in a week wheat climb on speculation the low price will be more attractive than corn and increase the demand of wheat for livestock feed.

July wheat contracts jumped 1.9% to $6.2725 a bushel.
Corn also climbed 2.8% to its biggest gain since March 30.