The MarketWatch Update

If you listen to the nightly recorded message consistently, may I ask you, at some point in the week, to share with me some of your thoughts and impressions about it ?  Plans are being made to distribute this feature on a wider scale and it’s important to me to know if this nightly recording is relevant to the entire suite of MarketWatch Update products to be offered as global service. 

Per number of those who’ve registered to receive this nightly newsletter compared to the number of folks who listen to the nightly commentary, I’m wondering about it’s relevancy for the constituency it is intended to serve.  Pls send an email to scott.magnuson@stonex.com with a one or two sentence reply if you have something to share… thank you in advance if you do. 

 Today’s Market News and Trading Highlights

Geopolitical shifts in the Middle East and a massive U.S.–China agriculture agreement dominated today’s commodity pricing. All palms facing in on a strong bid in the Ag’s fella’s…

Oil retreats as Trump pauses Iran strike — Again!  (he knows he’s in stalemate right now and is not going to wink… ) Despite the daily pullback, the blockade of the Strait of Hormuz keeps supply anxiety high. 

Grains explode on $17B China deal.   Corn, soybeans, and wheat prices rallied sharply following a White House announcement detailing that China committed to $17 billion in annual U.S. agricultural purchases over three years. Traders were excited, elated, relieved and encouraged for the coming summer months. But…

Winter wheat ratings fell to 27% good-to-excellent (down from 52% last year), adding domestic supply pressures amid a prolonged Kansas drought.

Gold and silver continue to face yield headwinds. While Middle East war fears provide long-term defensive support, skyrocketing 10-year Treasury yields (hitting 4.67%) and a strengthening U.S. dollar are aggressively capping non-yielding assets. 

(source contributors: Reuters, Bloomberg, WSJ, St n X- MI, AP, BBC, LME, CME Grp., ICE, FCL Ltd. CNN)

10:30 ET:  EIA Crude Oil Inventories  For: 05/16 | Trading Impact: High | Forecast: NA | Prior: -4.31M 

Let’s look at this again… Copper Clappers have been kept in conspicuous coffrers, for a considerable capsule of time… time to unwind?  It looks so… Catch this Copper Clapper Clip

Let’s discuss this market for a moment… let’s talk Market Profile for a moment longer – – (listen to this evenings brief update)

There are no new trading suggestions for Wednesday’s market session. 

 (chart graphics: ICE Data Svc’s-FS, Bloomberg, FCL Ltd, Reuters, CQG)

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We’ll pick up from here and see what the rest of the week presents as new opportunities surface… there’s certainly enough to keep up these days…  Can you believe it’s almost Memorial Day Weekend?!?  Time for some BBQ folks…       

  Nov Beans, July Lean Hogs, June Live Cattle, July Cotton, July Copper, July Cocoa, July Wheat

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