Front Month Nymex Natural Gas Rose 2.61% to Settle at $2.9830 — Data Talk

Front Month Nymex Crude for Dec. delivery gained 31 cents per barrel, or 0.46% to $68.43 today

• Largest one day dollar and percentage gain since Thursday, Nov. 7, 2024
• Up for two consecutive sessions
• Up 39.00 cents or 0.57% over the last two sessions
• Largest two day dollar and percentage gain since Tuesday, Nov. 5, 2024
• Off 21.26% from its 52-week high of $86.91 hit Friday, April 5, 2024
• Up 4.08% from its 52-week low of $65.75 hit Tuesday, Sept. 10, 2024
• Down 10.74% from 52 weeks ago
• Off 21.26% from its 2024 settlement high of $86.91 hit Friday, April 5, 2024
• Up 4.08% from its 2024 settlement low of $65.75 hit Tuesday, Sept. 10, 2024
• Off 52.90% from its record high of $145.29 hit Thursday, July 3, 2008
• Month-to-date it is down 1.20%
• Year-to-date it is down $3.22 or 4.49%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data

Front Month Nymex ULSD for Dec. delivery gained 0.85 cent per gallon, or 0.38% to $2.2193 today

• Up for two consecutive sessions
• Up 2.17 cents or 0.99% over the last two sessions
• Largest two day dollar and percentage gain since Tuesday, Nov. 5, 2024
• Off 25.13% from its 52-week high of $2.9642 hit Friday, Feb. 9, 2024
• Up 7.84% from its 52-week low of $2.058 hit Tuesday, Sept. 10, 2024
• Down 22.64% from 52 weeks ago
• Off 25.13% from its 2024 settlement high of $2.9642 hit Friday, Feb. 9, 2024
• Up 7.84% from its 2024 settlement low of $2.058 hit Tuesday, Sept. 10, 2024
• Off 56.78% from its record high of $5.1354 hit Thursday, April 28, 2022
• Month-to-date it is down 0.01%
• Year-to-date it is down 33.38 cents or 13.07%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data

By Paulo Trevisani

U.S. crude oil inventories likely rose last week, along with gasoline and distillate stocks, according to a survey by The Wall Street Journal.

Commercial crude oil stockpiles are seen rising by 1.1 million barrels at 428.8 million barrels in the week ended Nov. 8, according to the average estimate of eight analysts and traders. Six expect an increase and two predict a decline, with forecasts ranging from a withdrawal of 3.3 million barrels to a build of 3.5 million barrels.

Gasoline inventories are expected to have increased by 600,000 barrels to 211.9 million barrels, with estimates ranging from an 1 million barrel decrease to an increase of 2.1 million barrels.

Stocks of distillate fuels, mostly diesel, are expected to be up by 1.3 million barrels at 117.1 million barrels. Forecasts range from a decrease of 1 million barrels to an increase of 3 million barrels.

Refinery capacity use is seen rising to 90% from 89.2% the previous week, with estimates ranging from a 2.4 percentage point increase to a half percentage point decline. One analysts didn't forecast refinery runs.

The inventory data from the U.S. Energy Information Administration is scheduled for release Thursday at 10:30 a.m. EST.

 
                               Crude    Gasoline   Distillates    Refinery Use 
Again Capital                    1.6       2.1          1.3         1.2 
Confluence Investment Management  3.5       1.0          3.0         0.5 
Rystad Energy                   -3.3      -0.5          2.5         2.4 
Excel Futures                    1.8       1.1          1.3         0.7 
Spartan Capital Securities        1.6       1.9          2.3         n/a 
Mizuho                            2.0      -0.5         -1.0        -0.5 
Price Futures Group             -1.0      -1.0         -1.0         1.0 
Ritterbusch and Associates       2.4       0.6          1.7         0.3 
AVERAGE                         1.1       0.6          1.3         0.8 
Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points. 
 

Live cattle futures are trading with firm to 50 cent higher trade on Wednesday. This morning’s Fed Cattle Exchange online auction from Central Stockyards showed no sales on 2,510 head listed, with bids of $184-188. Feeder cattle futures are mixed, with November down 12 cents and other contracts up 55 cents to $1. The CME Feeder Cattle Index was down 19 cents at $249.64 on November 11.

USDA wholesale Boxed Beef prices were lower in the Wednesday morning report. Choice boxes were down 78 cents to $307.49/cwt, with Select $1.05 lower @ $278.87. The Chc/Sel spread widened to $28.62. USDA estimated the Tuesday federally inspected cattle slaughter at 121,000 head, with the weekly total at 233,000 head. That was 11,000 head below the previous week and down 19,183 head from the same week last year.

Dec 24 Live Cattle are at $184.200, up $0.500,

Feb 25 Live Cattle are at $186.225, up $0.100,

Apr 25 Live Cattle are at $187.825, up $0.125,

Nov 24 Feeder Cattle are at $246.700, down $0.125

Jan 25 Feeder Cattle are at $244.125, up $0.550

Mar 25 Feeder Cattle are at $242.700, up $0.975

• Where are Animal Protein Prices Heading as the Offseason for Demand Approaches?
• Where are Animal Proteins Prices Heading in Q3 and Beyond?
• Can the Meats Rally During the Peak Season in 2024?

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.

Soybeans are trading with contracts down fractionally to 2 cents. They were felling pressure from the products on Tuesday, as contracts were down 8 ¼ to 13 ¾ cents. CmdtyView’s national front month Cash Bean price is down 3 cents at $9.55. Soymeal futures are down $1.80/ton. Soy Oil futures continue to head lower, with losses of 100 points.

Lee Zeldin, President-elect Trump’s pick for EPA head has a history of being less friendly towards RFS policy, which has likely been a pressure point for bean oil this week.

Tuesday afternoon’s Crop Progress report indicated the US soybean crop at 96% complete by Sunday, above the 91% average pace for that date. This was the final national update on beans for the growing season.

China’s COFCO expects Chinese imports during the 2024/25 marketing year to drop 9.5% to 98.8 MMT.

Nov 24 Soybeans are at $10.03, down 1/2 cent,

Nearby Cash is at $9.55, down 3 cents,

Jan 25 Soybeans are at $10.07 1/4, down 3 1/4 cents,

May 25 Soybeans are at $10.30 1/4, down 5 cents,

• Looking Beyond The Hype: What a Second Trump Term Could Mean For The Grain Markets
• What the Election Results May Mean for the Corn and Soybean Markets
• What Surprisingly Strong Cash Markets Are Saying About Corn And Soybeans
• From Breadbasket to Battleground: How Global Conflicts May Impact Grain Prices

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.

The corn bulls are trying to hold up the market at midday, with spillover pressure from wheat playing a role. Corn is down 1 to 3 cents at midday, with help from a couple large export bookings. The national average Cash Corn price from cmdtyView is down 1 1/4 cents at $4.02 1/4 per bu.

USDA reported private export sales of 401,357 MT of corn to Mexico this morning, with 290,820 MT sold to unknown destinations during the reporting period, all for 2024/25.

Crop Progress data, in their last update for corn on the year showed the crop at 95% harvested as of 11/10, well above the 84% average pace for this point in the year.

A couple different tender by South Korean importers saw purchases of between 133,000 and 138,000 MT overnight, with no origins listed.

Dec 24 Corn is at $4.27 1/4, down 1 1/4 cents,

Nearby Cash is at $4.02 1/4, down 1 1/4 cents,

Mar 25 Corn is at $4.37 3/4, down 2 1/2 cents,

May 25 Corn is at $4.44 3/4, down 2 1/2 cents,

• What the Election Results May Mean for the Corn and Soybean Markets
• Global Corn Dynamics: Surging US Export Demand, Smaller Supplies And A China Wildcard
• What Surprisingly Strong Cash Markets Are Saying About Corn And Soybeans
• Grains Recover in Q3- What are the Prospects for Q4 and Beyond?

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.