Close: London Session | Forex, Metals, Oil, Agriculture November 25, 2022

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Agriculture

Today s Must Reads Corn cargoes | The first vessel carrying Brazilian corn to China was set to sail after a deal earlier this year between the two nations. Sugar ban | The US is halting imports from one of the Dominican Republic s largest sugar producers amid allegations the company uses forced labor. I m also wildly intrigued by Pain Caf Caramelis , a caramelized coffee sourdough bread from Parisian baker Xavier Netry. Or a coffee nerd.

Currencies

The dollar is little changed, spurring mixed trading in Group-of-10 currencies with the Norwegian krone leading gains while the Japanese yen lagged.

Metals

Oil climbed, while gold and Bitcoin fell.

Oil

Oil warning The global oil market keeps sending signals that demand is weakening the latest being a closely-watched gauge of Asian crude consumption, which tumbled to a seven-month low. With the price of oil down about $8 in the past ten days, Ziad Daoud of Bloomberg Economics estimates much of the decline is down to falling demand. JPMorgan strategists say the worst ma View in browser JPMorgan sees a turning point for bonds, China s Covid cases rise and oil markets flash warning signs.
Yet three years later, Mozambique has given up waiting for help from abroad and is focused on developing its massive natural gas resources to fund recovery and growth. Prompt spreads for both Brent crude and leading US grade West Texas Intermediate have also dipped into contango, a bearish pricing pattern that indicates ample near-term supply. Its Garden Gourmet Voie Gras combines soy with flavorings like miso, truffle oil, and sea salt.

United States

Egg prices topped the US food inflation list last month, and Hungary s government has capped prices. A bird flu outbreak is wreaking havoc across swaths of the US and Europe, spurring mass culling of poultry. In the US, you can order it from Butter Meat Co.

China

Beijing feels on edge, he says, with many wondering if the record high number of new cases can be contained if restrictions continue to ease. Global Headlines Covid impact | A surge in Covid-19 cases in Beijing has left streets deserted and grocery-delivery services running out of capacity. Covid in China Beijing saw 1,854 new infections Thursday, up from 1,611 on Wednesday, as China s wider outbreak reaches record levels. Xi Jinping knows very well that he can t simply let the virus loose.

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