The Dec contract gave back most of yesterday’s gains, losing 72 points and settling at 63.89. The settlement was very near the bottom of today’s trading range. Mar lost 62 points, settling at 63.88, the net effect leaving the Dec – Mar spread weakened, but remained inverted, at 1.
For tomorrow…
The Dec contract found life late in today’s trading action, challenging resistance near 65.00 before posting an 80 point gain D/D and finishing just below last week’s settlement at 64.60. The settlement was within the upper one half of today’s trading range. Mar gained 72 points, settling at 64.50, the net effect leaving the Dec – Mar spread strengthened at 10.
For tomorrow…
The Dec contract gave up another 84 points today on poor macroeconomic news from China and weakness in the grain markets despite softening US currency, settling at 63.80. The settlement was within the lower one quarter of today’s trading range. Mar lost 72 points, settling at 63.78, the net effect leaving the Dec – Mar spread weakened at 2.
For tomorrow…
