FTC To Investigate Oil - Retail OTC Metals Ban

Softs+2.02%

Sugar +4.17%         Lumber+3.09% OJ +3.09% Cotton +2.45%         Cocoa+1.71%         Coffee-2.38%  

      

Sugar Rises to Two-Month High on Supply Concern; Coffee Falls; Cocoa Gains

Indices+0.68%

Russell +1.04%  Midcap +0.99% DJIA +0.63% S&P 500 +0.61%      Nasdaq 100 +0.45%

Financials+0.02%

T-Bond +0.12%  2-Year +0.02% Eurodollar unch 10-Year -0.01%  5-Year -0.03%

Currencies-0.01%

Peso +0.27% Swiss +0.23% Pound +0.15%Canadian $+0.05% U.S. +0.03%  E- FX-0.08% Yen -0.26% A$-0.39%

Metals +0.09%          

Silver+0.76%  Pall+0.45%  Gold+0.19%  Copper-0.63% Plat-1.01%

Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15

            

Dodd-Frank rules outlaw retail gold, silver trading?

Grains-0.38%

Meal+0.29%  Beans +0.21%  B Oil+0.18%   Corn +0.04% Canola -0.31% Oats -0.43% Rice -1.11% Wheat -1.93%

 Corn Stocks Plunging to 1974 Low as China Adds Brazil-Sized Crop to Demand

  

Energies-0.43%

Ethanol +0.91%   WTI +0.39% Natural Gas -0.44% Gasoline -1.30% H Oil -1.78%

FTC opens probe into oil, gasoline markets

     

Economic Data

Motor Vehicle Sales

Domestic Vehicle Sales

Prior 10.1 M

Est 9.7 M

Range                  9.5 M to 10.2 M

MBA Purchase Applications

Purchase Index - W/W Change	Prior 1.5 %	Actual 0.0 %
Refinance Index - W/W Change	0.9 %	-5.7 %
Composite Index - W/W Change	1.1 %	-4.0 %

Challenger Job-Cut Report

Announced Layoffs - Level

Prior 36,490

Actual 37,135

ADP Employment Report

ADP employment

Prior 179,000

Revised 177,000

Actual 38,000

ISM Mfg Index

ISM Mfg Index - Level

Prior 60.4

Est 57.5

Range 55.0  to 59.5

Actual 53.5

Construction Spending

Construction Spending - M/M change	Prior 1.4 %	Revised 0.1 %	Estimate 0.1 %	***Range            -1.5 % to 0.7 %	Actual 0.4 %
Construction Spending - Y/Y change		-7.5 %			-9.3 %

Market Activity

Financials+0.58%

ZB+1.07% ZN+0.68% ZF+0.36% ZT+0.03%ED unch

Treasury 10-year yields fall under 3% after ADP

Currencies-0.11%

SF+1.15% JY+0.66% US +0.31% EC-0.37% AD-0.46% BP-0.74% CD-0.79% MP-1.07%

Dollar, yen, swissie gain on weak data

Grains -0.40%

SM+1.52% C+1.47% S+0.74% RS+0.24% BO-0.10% O-0.78% W-2.94% RR -3.32%

Wheat Drops on Russia Exports, Europe Rain; Corn, Soybeans Gain

Energies-0.52%

RB+1.89% ZKunch  NG-0.84% HO-1.21% CL -2.66%

NYMEX-Crude ends down 2 pct on economic concerns 

CFTC vs. Arcadia et al.: a government agency roils the oil market with a big action (Updated)

Metals-1.40%

GC+0.16% PA-0.55% PL-0.70% HG-2.15% SI-4.05%

St

CMEGroup Silver Market Recap Report

Softs-1.58%

CT+1.45% OJ-0.27% CC-1.53% LB-2.67% SB-3.02% KC-3.53%

Indices-2.40%

NQ-2.15% YM-2.26% ES-2.34% EW-2.49%  RJ -3.22%

U.S. stocks slammed by downbeat data June off to a rocky start after more gloomy economic reports

Futures Market Recap for 05.26.11

Economic Data

Real GDP - Q/Q change - SAAR	Prior 1.8 %	Est 2.1 %	Range 1.9 % to 2.6 %	Actual  1.8 %
GDP price index - Q/Q change - SAAR	1.9 %	1.9 %	1.9 % to 2.0 %	1.9 %

New Claims - Level	Prior 409 K	Rev 414 K	Est  404 K	Range 395 K to 420 K	Act 424 K
4-week Moving Average - Level	439.0 K	440.25 K			438.5 K

After-tax Profits - Y/Y change

Pror 11.4 %

Act 5.8 %

EIA Natural Gas Storage Data

Total (05/20/11): 2,024 Bcf (05/13/11): 1,919 Bcf Change: 105 Bcf 

Year ago stocks: 2,254 Bcf % diff to yr ago: -10.2 % 

5-year avg stocks: 2,050 Bcf % dif to 5-yr avg: -1.3 % 

Summary
Working gas in storage was 2,024 Bcf as of Friday, May 20, 2011, according to EIA estimates. This represents a net increase of 105 Bcf from the previous week. Stocks were 230 Bcf less than last year at this time and 26 Bcf below the 5-year average of 2,050 Bcf. In the East Region, stocks were 110 Bcf below the 5-year average following net injections of 56 Bcf. Stocks in the Producing Region were 133 Bcf above the 5-year average of 769 Bcf after a net injection of 38 Bcf. Stocks in the West Region were 49 Bcf below the 5-year average after a net addition of 11 Bcf. At 2,024 Bcf, total working gas is within the 5-year historical range.

Kansas City Fed Manufacturing Index

Prior 16

Actual  1

Market Activity

Grains+1.09%

Oats +2.44%

Wheat +2.26%

Canola +1.47%

Soybean Oil +1.28%

Soybean Meal +0.56%

Soybeans +0.56%

Corn +0.44%

Global Food Production May Be Hurt as Climate Shifts, UN Forecaster Says

Indices+0.92%

Russell 2000 Mini +1.67%

E-Mini Nasdaq 100 +0.06%

DJIA Mini-Sized unch

E-Mini S&P 500 unch

Stocks edge up, shaking off weak economic news

Softs+0.45%

Lumber +4.32%

Cocoa +1.62%

Coffee +0.53%

Sugar #11 +0.22%

Orange Juice -0.78%

Cotton #2 -3.20%

DJ MARKET TALK: Lumber Finishes Limit Up On Firm Cash, Short-Covering

Financials+0.42%

T-Bond +0.72%

10-Year T-Note +0.52%

5-Year T-Note +0.33%

2-Year T-Note +0.09%

Eurodollar +0.01%

 Treasuries Rally on European Debt Turmoil, Slower U.S. Growth, Auction Bid

Currencies+0.42%

Australian Dollar +1.13%

Japanese Yen +0.84%

Swiss Franc +0.76%

British Pound +0.69%

Euro FX +0.43%

Canadian Dollar -0.14%

U.S. Dollar Index -0.50%

Dollar pares loss after Greece comments Beijing expected to buy European bailout debt, report says

Metals-0.10%

Palladium +0.82%

High Grade Copper +0.39%

Gold -0.44%

Platinum -0.45%

Silve

Gold inches lower; silver falls roughly 1% Gold miners increase hedging

Energies-0.14%

Gasoline RBOB +1.20%

Ethanol Futures +0.38%

Heating Oil -0.03%

Crude Oil WTI -1.08%

Natural Gas -1.09%

Europe's natural gas supply: Russia reinforces the market

Price Charts of Note

AUD holds above 50d MA

Lumber Limit-up For 2nd Day

Weekly Lumber

Nat Gas finds Resistance at the 50d MA

Economic Data

MBA Purchase Applications

Purchase Index - W/W Change	Prior          -3.2 %	Actual 1.5 %
Refinance Index - W/W Change	13.2 %	0.9 %
Composite Index - W/W Change	7.8 %	1.1 %

Durable Goods Orders

New Orders - M/M change Prior 2.5 % Rev 4.4 % Est        -3.0 % Range                      -5.7 % to 0.5 % Act              - 3.6 % New Orders - Yr/Yr Change 10.5 % 14.1 % 5.3 % Ex-transportation - M/M 1.3 % 2.5 % -1.5 % Ex-transportation - Yr/Yr 6.1 % 8.2 % 6.7 %

From Briefing.com:

Highlights: Durable orders fell 3.6% in April after increasing an upwardly revised 4.4% (from 4.1%) in March. This was the biggest decline since October 2010.

• The Briefing.com consensus expected durable goods orders to decline 2.0%.

Read more: http://www.briefing.com/Investor/Public/Calendars/EconomicReleases/durord.htm#ixzz1NOsaS7Gx

Orders for durable goods fall 3.6% in April Airline, auto declines account for bulk of reversal, U.S. data indicate

FHFA House Price Index

M/M change	Prev         -1.6 %	Revised       -1.5 %	Act    -0.3 %
Y/Y change	-5.7 %	-5.5 %	-5.8 %

EIA Petroleum Status Report

Crude oil inventories (weekly change)	Prior          0.0 M barrels	Current             0.6 M barrels
Gasoline (weekly change)	0.1 M barrels	3.8 M barrels
Distillates (weekly change)	-1.2 M barrels	-2.0 M barrels

 

Weekly Petroleum Status Report

Analysis of US EIA data: US middle distillate inventories drop as ULSD demand surges

U.S. Oil Import Dependence: declining no matter how you measure it

 

Market Activity

Softs+2.53%

LB+3.61% CC+3.40% SB+3.33% OJ+2.22% KC+1.40%      CT+1.40%

Commodities: Slow Boat to China Big Boost for Canada Lumber-2

Metals+2.04%

SI+4.74% HG+2.33% PA+1.75% PL+1.10% GC+0.12%

PRECIOUS METALS: Gold, Silver Rise On Safe Haven Buying

Energies+1.34

HO+2.44% CL+1.62% RB+1.12% ZK +1.03% NG+0.62%

Oil hits 2-week high on U.S. distillate draw, dollar

Grains+0.96%

O+2.50% W2.15% C1.23%  BO+0.84% RS+0.57% S+0.35% RR +0.30% SM-0.25%

Evening markets: wheat rises, dismissing Russia export risk

Indices+0.72% CRB +1.57% VIX -1.91%

RJ+1.16% EW+0.62% NQ+0.35%         ES+0.32% YM+0.28%

U.S. stocks end higher after 3-session drop

Currencies+0.11%

SF+0.73% BP+0.59% USD unch MP unch CD -0.07% JY-0.12% EC-0.18% AD-0.25%

Financials-0.01%

ZF+0.12% ZN+0.06% ZT+0.02% ED unch ZB-0.10%