June 12, 2018 – Commodity Weekly: Calm commodity markets ahead of Fed, OPEC
Commodity markets had a volatile week but currently they are rather calm ahead of key events, the FOMC reate decision today and the OPEC meeting next week. Crude is stable just above recent lows while yesterday API reported surprise built up in crude and even bigger rise in gasoline inventories.Corn reacted strongly on bullish Wasde data as market expected increase in ending stock estimates while the USDA reported lower than expected data in almost all crops. Sugar is hesitant amid Indian uncertainty ahead of the cane crushing season as mills struggling to make money from produced sugar due to artifically high domestic cane and low global sugar prices.
Good Luck and remember to watch your risk and be consistent
Mr. Tech Man
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