Marc Nemenoff
PRICE Futures Group
Financials: June Bonds are currently 3 higher at 164’17, 10 Yr. Notes 1 higher at 130’13.5 and 5 Yr. Notes 0.5 higher at 121’05.7. June 2017 Eurodollars are unchanged at 99.08. Estimates for today’s Unemployment Report are in the 200,000 range for new non-farm payrolls. I will be a seller in June 2017 Eurodollars on a rally to the 99.10 level.
Grains: Yesterday’s Grain Report showed the following:
Thu Mar 31 12:05:08 2016 EDT
Following are key numbers from the USDA's March 1 Quarterly Grain, Soybean Stockpiles and 2016 U.S. Grain, Soybean Prospective Planting reports Thursday and how the government's estimates compared to analysts' forecasts in a Wall Street Journal survey.
U.S. Stockpiles on March 1, 2016 (million bushels)
As expected more Corn acreage and less Soy acreage. I will be a buyer in Beans on a set back to the 893’0 level and a buyer in Corn (May) below 343’0. Currently: May Corn 2’2 lower at 349’2, Beans 2’4 higher at 913’2 and Wheat 3’0 lower at 470’4.
Cattle: Yesterday Live and Feeder Cattle closed sharply higher with FC posting limit up gains and possibly making a key reversal. We have covered all back spreads in Live Cattle. I will be looking to the buy side of the market on breaks next week.
Silver: May Silver is currently 10 cents lower at 15.36 and June Gold 4.00 lower at 1230.00. We remain long. Take profits in Gold above 1265.00.
S&P's: June S&P’s are currently 8.50 lower at 2043.00. We were stopped out of recent short positions. Treat as a trading market between 2024.00 and 2060.00. today’s Jobs number could move the market sharply in either direction. Most global mkts. Are sharply lower this morning.
Currencies: As of this writing the June Euro is currently 31 higher 1.1440, the Yen 34 higher at 0.8938 and the Pound 73 lower at 1.4300. Normally I would be a seller in the Euro above 1.1400 but I am going to error on the side of caution at the moment and stand aside.
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