June Bonds are currently 5lower at 147’06, 10 Yr

Marc Nemenoff PRICE Futures Group

Financials: June Bonds are currently 5lower at 147'06, 10 Yr. Notes 1.5 lower at 123'15.5 and 5 Yr. Notes. I do not presently have a strong bias on these markets. I will be a buyer in bonds below 144'15 and a seller above 149'15. If Bonds are too risky for you consider selling the 5 yr. or 10 Yr. notes if these levels are touched in the Bonds.

Grains: July Corn is currently 2'2 lower at 353'6, Beans 1'6 higher at 870'4 and Wheat 1'2 lower at 437'2. I still remain a bit negative on the grains. That being said, I am looking for a buying opportunity below 350'0 on July Corn for a 10-15 cent rally.

Cattle: As expected Live and Feeder Cattle have retreated from an overbought situation. Last week we went long JuneLC 116 puts/short 114 puts at 30 points, currently trading at 52.5 points. Take profits above 90 pts.

Silver: Silver is currently 7 cents lower at 14.92. A strong dollar has kept pressure on this market. That being said, I remain long and feel dollar strength will subside.

S&P's: June S&P's are currently 3.25 higher at 2934.00 close to the all time high of a lead month futures contract of the 2944 area. I am on the sidelines.

Currencies: As of this writing the June Euro bis 23.5 lower at 1.11695, the Yen 33 higher at 0.89700, the Pound 36 lower 1.2905 and the Dollar Index 15.5 higher at 98.01. Last week I recommended going short above 97.000. I remain short.

Author

Marc Nemenoff

PRICE Futures Group

Mr. Nemenoff is a 37-year veteran of the futures industry.

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