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Commodities are mostly lower this morning and recent weakness in the dollar index, which fell into the red a short while ago, doesn't seem to be having much of a positive effect currently.
In the energy markets, natural gas has been in negative territory all morning and quickly dropped about 1% just a few minutes before U.S. equity markets opened. Ahead of inventory data, natural gas remained near session lows of $4.20/MMBtu. Following the data, which showed a build of 92 bcf vs. expectations for a build of 90 bcf, natural gas sold off to new session lows of $4.19/MMBtu and remains at those lows currently, down 1.7%
Crude oil has been in positive territory for the majority of this morning's activity. In the last 20 minutes, crude pulled back from ~$100.70 to ~$100.20, but remains in positive territory. Currently, crude is sitting at $100.25/barrel, down 0.3%.
Overnight, agriculture commodities, especially corn and wheat, extended gains as unfavorable weather and flooding continues to delay planting in the U.S. In the last five sessions, corn futures are 12.1% higher and wheat futures are up 14.1% in the last three session.
In the precious metals space, gold has been in negative territory all morning and is currently down 0.3% at $1491.20/oz. Silver, on the other hand, has spent the morning in positive territory and is currently up 0.6% at $35.30/oz. Neither precious metal has displayed much volatility this morning.
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