Marc Nemenoff
PRICE Futures Group
Financials: Sept. Bonds are currently 17 lower at 136’21, 10 Yr. Notes 6 lower at 124’31.5 and 5 Yr. Notes 3 lower at 119’11.7. Continue to treat Bonds as a trading affair between 135’08 and 137’16. Personally, I prefer the short side of the market on rallies. I am still recommending the long June 2015/short June 2017 Eurodollar futures spread below the 185 premium June 2015 level (currently at 189). The July Monthly Unemployment Report will be this thurs. Current guesstimates are for an increase in non farm payrolls of 215-220,000.
Grains: Yesterday’s Grain Report showed the following: Estimates are in millions of acres for the 2013 U.S. acreage report and in billions of bushels for U.S. grain and soybean stocks as of June 1.U.S. Stockpiles on June 1, 2014 (million bushels)
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