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Posted by Tango
on April 6, 2020, 6:44 am
Bids were present above unchanged but market selling pushed prices down 2.60 cents in the first few minutes, and with light volume, to the lows of the morning. Prices stabilized and and have remained without direction. The roll will continue today and will likely bring further weakness to the K spreads. Thursday, not Friday, is option expiration for the May contract. Strikes will be levels of support and resistance for the remainder of the abbreviated week.
Currencies are mixed this morning and rendering a slightly positive $Index which is again above 100.00. The Yuan is lower as other BRIC currencies are higher. USDMXN is 25.1556 +0.1946 (+0.78%), USDCOP closed at 4014.00 and is unquoted. USDBRL which closed at 5.3495 is 5.2826 on the CME.
Bond futures are are down as equities are sharply higher. Metals are higher and crude is lower. Grains are mixed while sugar and cocoa are higher and cotton is lower.