Close: London Session | Forex, Metals, Oil, Agriculture December 11, 2020



Given the trade’s enthusiasm going into this month’s report, the corn and bean markets were a bit disappointed that this year’s ending stocks weren’t reduced by pre-report expectations. The World Board made some modest soybean and wheat demand updates while leaving corn’s balance sheet unchanged from last month. If the one across the road was planted with soybeans, the one behind the house was planted with corn. The size of January’s final US crop and impact of La Nina on S. America’s corn output (Argentina sliced 1 mmt) remain major market factors going into 2021.
October’s record US soybean crush did prompt the World Board to up its domestic demand by 15 million bu to 2.105 billion this month. This was not the case for wheat however when both the US and World ending stocks were reduced by the USDA. The opposite would be true the next year-corn across the road and beans behind the house. The USDA continued its measured approach in their US corn supply/demand update.
The only other strategic I can think of might be JAB (often cited as a potential buyer pre-Inspire), given its coffee business.


The pound fell more than 1% against both the dollar and euro on Friday, as the two sides failed to agree on a free-trade deal. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.12 per cent higher at 90.93. )Here are the biggest calls on Wall Street on Friday: The EURUSD pair trended higher on Thursday, December 10, with the euro rising 0.46% against the dollar to 1.2134. Despite the broader weakness in the US Dollar which has underpinned prices, silver has been let down this week by the softer moves in equities markets.
The market shed 2.4% in response to the move higher in the dollar midweek. Between some ECB optimism, mostly better data, declining virus cases and broad-based US dollar weakness, EUR/USD has fundamental support for further gains. At the interbank forex market, the domestic unit opened at 73.65 against the US dollar and witnessed an intra-day high of 73.56 and a low of 73.71.
Both the US Dollar and Treasury yields were down for the day, with declines in the former usually beneficial to commodity prices. The dollar edged up on safe-haven bet, whereas gold fell. The U.S. dollar edged up on safe-haven bet, whereas gold fell.


Reports state that the correction in gold prices has discouraged some investors from investing in gold. BHP explores for, develops, and produces oil and gas, and mines copper, silver, zinc, molybdenum, uranium, gold, iron ore, nickel, and metallurgical and thermal coal. After the $2089 high of gold in the summer, gold has moved down about 50% from that high. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas.
That turns out to be four years of global gold mine supply totaling 440 million or 40 years of global silver mine supply of 32 billion oz. In global markets, gold prices edged higher today as muted US jobs data spurred concerns about swift economic recovery. However, gold prices struggled to gain buying interest in Indian markets amid muted global trends. However, gold prices struggled to edge higher in Indian markets amid muted global trends. Later on in 2008, he began researching areas of the gold and silver market that, curiously, the majority of the precious metal analyst community have left unexplored.
Under an agreement signed between the central bank and First Quantum, Zambia will buy gold produced as a by-product of the company’s Kansanshi copper mine.


Fossil-fuel companies of all shapes and sizes have overinvested in recent years to create gluts of oil, gas, liquefied natural gas and even refineries. A recent proposal to add the main U.S. export price, WTI Midland, to the global oil benchmark from 2022 is a testament to shale oil’s importance in global supply. Citadel, led by Chicago billionaire Ken Griffin, benefited from gains across the commodities business in oil, power, natural gas and agriculture markets this year, the people said.
The ProShares Ultra Bloomberg Natural Gas product (BOIL) is a short-term product that moves higher with the natural gas futures price. Underinvestment in traditional forms of energy wipes off millions of barrels a day of future oil production, pointing to a decade of rising oil prices. Crude Value Insights offers you an investing service and community focused on oil and natural gas. The $10 billion acquisition was a vote of confidence for natural gas as it boosted Berkshire’s interest in US natural gas transmission from 8% to 18%.
SOCAR Trading received a right to load some 500,000 tonnes of oil from the Okarem oil field in 2021. Sectoral indices ended on a mixed note with stocks in the metal sector and oil & gas sector witnessing buying interest. Historically, significant underinvestment in drilling has prompted a price spike when demand eventually rebounded, given the long lead time to find and develop new oil sources.

United States

In due time, as the US is topping the rolling two week new cases as well as current ICU hospitalizations per capita. less It’s that time of year when Wall Street analysts started trotting out the predictions for earnings growth and stock market targets for the coming year. Investors embraced news that the Pfizer/BioNTech (NASDAQ:BNTX) vaccine was likely to receive a favorable safety profile by the Food and Drug Administration. Here are my three best cheap growth stocks to buy now… (NASDAQ: EML) makes hardware for the automotive industry, including things like seat belts, locks, mirrors, and hinges.
In light of the company’s success, it announced that, effective March of next year, it would be increasing its price in the US from $6.99 per month to $7.99. It is expected to close in the first quarter and the company will trade on Nasdaq under the symbol “ELMS.” That said in the near term, interest in these companies especially Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN) may likely stay elevated on account of the upcoming seasonal tailwinds.
However, the S&P 500 and the NASDAQ carved out new record highs on Tuesday, December 8, as vaccine-related news outweighed a rise in COVID deaths and hospitalizations. less The odds of a UK-EU agreement and new stimulus before year-end in the US have faded and are sapping risk appetites ahead of the weekend. The company beat Wall Street estimates for second-quarter profit and revenue on Thursday, as remote work trends boosted cloud product and software licensing sales.


Note that money-market rates (e.g., overnight repo and seven-day repo rates) jumped higher today, and the PBOC will likely address the funding squeeze next week. Global Headlines Staff member held | Authorities have detained Haze Fan, who works for Bloomberg News in Beijing. Chinese authorities detain Bloomberg News Beijing staff member.


Five Things Follow Us Get the newsletter No stimulus deal yet, no Brexit deal likely, and experts agree on Pfizer vaccine. UK Prime Minister Boris Johnson has warned business and the public to prepare to leave the EU without a trade deal. Ahead of the Brexit deadline and with talks yet to yield a deal, the industrial landscape is looking highly uncertain. European markets have opened in the red as investors dial down their risk as Brexit negotiations near a critical point ahead of Sunday’s deadline.
Canberra largely does business with the EU based on World Trade Organization rules, and has few other arrangements in place, such as cooperation on science and trade in wine. U.S. stock futures and European indexes slipped Friday as politicians signaled an increased likelihood of a disruptive break between the U.K. and European Union. These small but important adjustments tell us that the ECB on balance is less pessimistic but still plan to keep monetary policy easy for a very long time.
Investors turned a keen eye on discussions between the EU and U.K. officials concerning a trade agreement that at this point doesn’t look too promising.
In yesterday’s note, we argued that unless their actions were more aggressive, EUR/USD could see a post ECB rally. At least the path ahead for the EU’s historic fiscal spending effort is looking less thorny.