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Posted by Tango
on June 4, 2020, 7:03 am
Selling came in for the opening below unchanged. Weakness prevails. Depth of market shows that some bids have moved higher in the forward months but for this COT marking period, N KC was down 6.90 with the total open interest increasing by 24,360 lots. The composition of this increase is not clear but, if true to the previous COT, then this increase, at least in part, new managed money selling. Of course, there are new buyers as well. For this we need to look at commercials and other spec groups. This situation will likely continue to provide a heavy market, at times of strength as well.
Th $Index is higher as key currencies are mixed and the BRIC currencies are all lower. USDMXN is 21.94 +0.1821 (+0.84%), USDCOP is 3,603.50 -2.5 (-0.0693%) and USDBRL is 5.1114 on the CME, .0488 higher than the closing spot price, or +.96%.
Bond futures are higher and equities lower. Gold is higher while crude is lower. Grains are higher and sugar and cotton are lower. Cocoa is higher.