Close: London Session | Forex, Metals, Oil, Agriculture May 26, 2021



Thailand exportsA feature of next season’s global sugar production is the output in Thailand, whose season begins in December, rebounding by three mt to 10.6 mt on higher yield. Thailand produced 14.58 mt of sugar in 2018-19 but since then its production dropped to 8.29 mt in 2019-20 and 7.57 mt this season, respectively. We expect sugar production to be 32 mt with another 2.5 mt going into ethanol production,” said Rahil Shaikh, Managing Director, MEIR Commodities India.
If raw sugar prices rule around or above 19 cents a pound (₹30,700 a tonne), then the Indian sugar industry would not require government incentive like this season. This season, the dues are reported to have topped ₹20,000 crore.Exporters contracted 5.7 mt of sugar for shipments abroad by May 19 this season. The USDA said Thailand will export a record 10.4 mt of sugar next season. Too early for projectionISMA Director-General Abhinash Varma said that it is too early to project next season’s sugar output.
As regards the current season, Vithalani said only small quantities are being exported after the amount allocated for sugar export assistance has got used up. Therefore, it will be only in small quantities,” Vithalani said.Shaikh said that India could export another 0.5-0.7 mt of sugar under OGL. This year, its production was lower,” said Praful Vithalani, President, All India Sugar Traders Association (AISTA).


The dollar actually bounced intraday off these data releases, which could be a clue that traders may be covering some hefty short dollar positions. Stephen Innes of SPI Asset Management noted that growing inflation risks and weaker dollar boosted gold’s status as an inflation hedge. Weaker US treasury yields and the US Dollar trading at 4.5 month low helped Gold push above resistance at 1890. Contact Information 900 Sylvan Avenue Englewood Cliffs, New Jersey 07632 United States 201-735-2622 less I keep hearing the Renminbi (Yuan) will replace the US dollar in global trade.
A soft U.S. dollar and growing concerns over higher inflation rates pushed the yellow metal above $1,900 an ounce. While it appears to help drag up the Australian dollar, the greenback is mostly steady to a little firmer against the major currencies. less Gold close to breakout and dollar close to break down. With only a few trading days left in the month and with the US dollar stretched to such extremes, caution is required.
The price against the dollar might be boosted by the statement of the Co-Founder of a $315 billion asset manager thus says that . (and I use the word usually in a liberal sense here), bearish US economic data will send the US dollar lower.


With the sharp fall in supply, iron ore price jumped 156 per cent to ₹6,560 a tonne from ₹2,560 per tonne last fiscal. A six mt lower steel production translates into iron ore demand drop of 11 mt, whereas supply was down by 67 mt. Currently, high grade iron ore of 64 per cent iron content is sold at about ₹10,000 a tonne. While industrial commodities, like iron ore and steel rebar, are trading lower, gold has pushed above $1900 for the first time since January.
Since the official stance hardened, prices in China for materials such as iron ore, steel rebar, aluminum and copper have retrenched. Ivanhoe has said it expects Kakula to be the world’s highest-grade major copper mine, with the concentrator producing concentrate grading around 57% copper. The realisation works out to $185 or ₹13,000 a tonne, considering international iron ore price of $200 a tonne and freight of $15, he added. BEFORE THE BELL Futures for Canada’s main stock index rose as gold prices jumped above the key $1,900 level for the first time since January.
Gold prices for the latest contract on MCX are trading up by 0.5% at Rs 49,092 per 10 grams.
The moves follow a rally, fueled by a global economic rebound and supply-chain disruptions, that has lifted prices for some commodities such as copper to records.


The company’s Oil and Gas segment explores, develops, and produces oil and condensate natural gas liquids and natural gas. Oil traded in a narrow range, supported by optimism about improving U.S. fuel demand but with the prospect of returning Iranian oil keeping any gains in check. Source: Bloomberg US crude production remains ‘disciplined’ still despite strong gains in oil prices and rig counts… A steep drop in underlying crude benchmarks also helped boost margins.
Dirty records have Oil / Oil Products , while Clean have Refined Products in this column. Its operations are focused on the productive basins in the United States, with a focus on crude oil and, to a lesser extent, on liquids-rich natural gas. The FT reported that Ali Allawi, Iraq’s finance minister, found himself in a quandary last year as the spread of coronavirus cut demand for oil and prices tumbled. After hitting historic lows in April 2020, the oil and gas industry has recovered significantly, primarily on the back of voluntary production cuts by OPEC+ countries.
The global oil and gas upstream activities market is expected to grow at a 6% CAGR over the next four years to reach $4.24 trillion by 2025. EOG’s total crude oil and condensate volumes have been set at 437.5 – 448.5 MBod for the second quarter of 2021, after achieving 431 MBod in the first quarter. With the exception of crude oil inventories and FOMC member Quarles giving a speech, there is little to move markets on today’s economic calendar.

United States

Wall Street estimates have the company’s combined revenue from domestic and international theme parks returning to growth in the current quarter ending in June, according to Visible Alpha. Online travel platform (NASDAQ:BKNG), restaurant supplier (NYSE:SYY), restaurant chain (NYSE:CMG), entertainment giant (NYSE:DIS), on-demand food delivery platform (NYSE:DASH) and online lodging platform(NASDAQ:ABNB) lead the names in the roster. On the other side, the Fed believes it must maintain extreme policies ($120 billion QE per month & 0% Fed funds rate) until the labor market reaches full employment.
You can’t say the Fed caused x% of the stock market’s increase last year. Indeed, Wall Street analysts expect Disney’s theme park operating margins to reach a new high of 24% for the fiscal year ending in September 2023, according to FactSet. But Wall Street estimates that growth has since decelerated significantly and should slow further to less than 24% growth for the quarter ending in April 2022.
The Fed had never bought corporate bonds; free addicting stock trading apps that encourage everyone to follow hot stocks were never this popular. Pinduoduo Inc: Chinese e-commerce platform s quarterly revenue beat Wall Street estimates, driven by steady demand for online shopping following the COVID-19 pandemic. The distribution agreement comes after the companies entered into an arrangement to distribute Quatreau, Canopy Growth’s first line of CBD-infused beverages to be sold in the US.
Although some Fed members discussed the possibility of tapering asset purchases again, the market is yet to react.


Still, China lashed out at New Zealand after its parliament passed a motion declaring severe human rights abuses are taking place against Muslim Uyghurs in Xinjiang. But the issue has come under scrutiny after Beijing imposed a range of tariffs on Australia during a period of rising diplomatic tension. WSJ explains how Beijing is pouring money into high-tech chips as it wants to become self-sufficient. Beijing’s interventions mirror its clampdown on other asset classes such as cryptocurrencies.
Under President Xi Jinping, it has pledged to reach peak emissions before 2030, and to achieve carbon-neutrality by 2060.


EU Seeks Astra Court Order to Supply Vaccines Its slow vaccination start is being partly blamed on the supply shortfall. The European Central Bank (ECB) will review its emergency bond purchases in light of economic recovery and declining COVID-19 cases. The EU wants the company to deliver at least 120 million vaccines by the end of June. What you should read Boris Johnson Former Aide Assails Response Some officials went skiing instead of working the virus, he said.
But ECB policymaker Yannis Stournaras warned the central bank that the recovery remained fragile and there is no evidence of high inflation in the foreseeable future. His feature articles have been published on:,, Action forex, Forex TV, Istockanalyst, ForexFactory,,, etc. He expressed support for the ECB’s €1.85 trillion Pandemic Emergency Purchase Program.