Close: London Session | Forex, Metals, Oil, Agriculture January 07, 2021



The cotton consumption is now expected to reach the pre-lockdown level during the 2020-21 season,” Atul Ganatra, President, Cotton Association of India (CAI), said. The average cotton yield during this period was 773 kg lint per hectare (kg/ha). The price for benchmark cotton, GUJICS-105 29 mm, quoted at ₹43,200 per candy (of 356 kg). competition with man-made yarn, which would pose a challenge to get competitive price for cotton. Global developments are feeding into the Indian wheat market which is likely to make 2021 a year different from the recent past.
Analysts see cotton prices to remain firm during the year on multiple factors. “Man-made yarns contribute far more pollution to the air and water than do cotton yarns do. A slightly smaller final US corn (CORN) crop of 14.425 bil bu is expected, off 82 million from November. Despite this, a cut in corn (maize) production in the EU, Ukraine and the US following La Nina-induced weather issues has lifted wheat prices.
US soybeans (SOYB) will be the market’s main focus as traders are expecting smaller US ending stocks & a lower S. American crop next week.


The dollar strengthened and Treasury yields soared, weighing on gold prices. The U.S. dollar strengthened, and Treasury yields soared, weighing on gold prices. While prospects of further government spending bolstered markets, the dollar reaction was mixed. But at some rising rates, and a falling dollar will pose a problem for equities. Meanwhile, the dollar gave back some pretty big gains. Nevertheless, any increase in the dollar may be temporary.


S&P 500 futures pointed to a higher open, the 10-year Treasury yield was at 1.044%, oil held its gains and gold slipped. Gold may revisit its November low to complete a correction.


The largest U.S. oil producer said the emissions from its product sales in 2019 were equivalent to 730 million metric tons of carbon dioxide, higher than rival oil majors. Northern Alberta’s oil sands account for roughly two thirds of crude output from Canada, which is the world’s fourth-largest oil producer. REUTERS TECHNICAL ANALYSIS Q1 OUTLOOK 2021 – WANG TAO Crude, palm oil and base metals are expected to extend gains in next quarter. Crude oil is hovering above $50 a barrel.
Big Oil skips last-minute auction of Arctic drilling rights. Slowing down | Demand for gasoline in the U.S. dropped to levels last seen in the early stages of the pandemic, suggesting consumption still faces a stumbling recovery. WTI crude rose, supported by data showing fall in U.S. stockpiles. Two Panamax tankers, four Medium tankers and one Small tanker are currently underway to Africa for discharge. IOC loaded the cargo onto Minerva Kalypso, a suezmax-sized vessel, which left Iraq’s southern port of Basra on Jan. 4, the data showed.
Small tanker AEON loaded from Fujairah and is underway to Somalia for discharge.

United States

YouTube says it removed livestreams intended to incite violence, and also removed Trump’s video for misleading information about the election results. In the 2020 presidential election, 81 million people turned out to vote for Joe Biden, while another 74 million voted for Donald Trump. — as investors looked past Wednesday night’s storming of Congress by a pro-Trump mob that disrupted the Senate’s confirmation of Joe Biden‘s election victory. Trump used Twitter as well as other social media providers, including Facebook and Google’s YouTube, to urge supporters to protest in Washington on Wednesday.
Although people voted for Donald Trump for many reasons, there is growing evidence that much of his appeal is rooted in problems of social integration. Kurt Wagner If you read one thing Trump supporters’ rage simmered online even before Wednesday’s violence in Washington. The mob supporting President Donald Trump has failed in its coup attempt – and EUR/USDwill likely fall short of ending the broad rally.
After lengthy talks, many wondering if the US-China Phrase 1 trade deal would even be signed.
But Brazil s Jair Bolsonaro, a staunch Trump backer, noted there had been many reports of fraud in the U.S. election. That new cartel leader also agrees to cut back drug shipments to the US as part of the deal.


The company got permission in Beijing last month to deploy five vehicles for road tests without safety drivers inside the cars, a first for the country.


Separately, Spain will receive 600,000 doses of the Moderna vaccine against coronavirus within the coming six weeks as part of the European Union contract, Health Minister Salvador Illa said.