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Posted by Tango
on June 23, 2020, 6:43 am
Buying at the opening was above settlement prices and was met with pressure which brought prices back to the lows. It remains steady. The roll is over and total volume dropped to 24,373 lots yesterday. The Sep volume was 12,538 lots of which 79% was outright in a 3.1c range It appears that the market has returned to one in which prices can be easily moved with little volume. Nevertheless the market was steady yesterday. The buyers were one or more of the spec groups which could have consisted managed money short buyers but there is no way of knowing. The OI report may provide a clue.
Key currencies are mixed and the $Index is lower. The Yuan and other BRIC are mostly higher against the $. USDMXN is 22.3281 -0.1579 (-0.7022%), USDCOP is unchanged at 3726.00 and USDBRL on the CME is 5.2398 +.0046, +.09%, vs. the spot close.
Bond futures are lower while equities are higher. Metals and crude are higher while grains are lower. Sugar and cotton are lower while cocoa is unchanged.