Nemenoff Report 10/13/2022 - Market InsightsMarket Insights


Financials:  Dec. Bonds are currently down 2”01 at 123’04,down3’28 for the week. The 10 Year Note and 5 Year Note are also sharply lower due to a negative CPI Report which was up 0.40% vs a pre report estimate of 0,20% month over month. Last weeks support of 124’22 was handily broken with this mornings low of 122’28. The yield curve remains inverted as the 2 Yr. yield continues to gain on the 5,10, and 30 Yr. This should put the FMO Con track to raise rates by 75 basis points in Nov.

Grains:  Yesterday’s report was slightly bearish Corn and Wheat and constructive for Beans. Last weeks resistance of 706’0 was met and held. This morning Corn is 6’0 lower at 686’2 (Dec.) and Nov. Beans15’0 lower at 1380’0. CPI will be the big influence on today’s market. Support for Dec. Corn is currently 672’0. And resistance remains at 706’0.

Cattle:  Dec LC is 35 lower at 148.10 down 40 for the week. I continue to have a negative bias as the trend in feed grains remains up.

Silver:  Dec. Silver is 40 cents lower at 18.53. Long and short term trends remain down.


Marc Nemenoff

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