
Perspective: Mid-Day Commentary for June 4
June 4 - The Dow surged to a new record high this morning, while the S&P and the Nasdaq have largely erased early losses as oil prices drop on Iran peace hopes, again. This comes despite Hezbollah's rejection of the Israel - Lebanon ceasefire agreement, resulting in Israel deciding not to withdraw from occupied areas of Lebanon. Even so, the VIX is back below 16 at midday, while the dollar index trades near 99.3. Yields on 10-year Treasuries are trading near 4.46%, while yields on 2-year Treasuries trade near 4.05%. WTI crude oil is currently near $93 per barrel, while Brent trades near $95 per barrel. Massive seasonal and chart-related liquidation continues in the grain and oilseed sector; even spreading to the edible oils markets that had been previously holding strong due to the nation's biofuel program that needs them.

- Grains & Oilseeds






