The ICE Mar contract erased yesterday’s loss (and then some) gaining 80 points on the second day of the Rogers roll, settling at 74.94. The Mar contract gained 429 points in Jan, up nearly 6.1% from the final trading day of 2016. The May contract gained 78 points, settling at 75.60 – the net effect leaving the Mar – May spread near unchanged at (66). Volume for Mar delivery slowed at approximately 15.5K lots; OI in Mar contracted at just below 154K lots.
For tomorrow…
The ICE Mar contract lost 71 points on the first day of the Rogers roll, settling at 74.14. The May contract lost 47 points, settling at 74.82 – the net effect leaving the Mar – May spread weakened at (68). Volume for Mar delivery quickened at nearly 17.3K lots; OI in Mar expanded at approximately 155.5K lots.
For tomorrow…
The ICE Mar contract picked up 66 points on Fri, settling at 74.85 – a 181 point weekly gain. The May contract gained 69 points, settling at 75.39 – the net effect leaving the Mar – May spread near unchanged at (54). Volume for Mar delivery slowed at around 13K lots; OI in Mar expanded at nearly 155K lots.
For today…
The ICE Mar contract again picked up 31 points on Thu, post the release of strong export data, settling at 74.19, although well off its intraday high of 75.00. The May contract lost 18 points, settling at 74.70 – the net effect leaving the Mar – May spread weakened at (64). Volume for Mar delivery quickened at around 16K lots; OI continued to contract in Mar at approximately 154K lots. Spec liquidation appears to continue near the top of the current trading range.
For today…
