Close: London Session | Forex, Metals, Oil, Agriculture September 02, 2020



INSIGHT Coffee, donuts and Spic and Span: P&G finds new ways to plug products amid pandemic Germ-conscious in the pandemic era but still craving a donut and coffee? Having some analyst saying there will be plenty of corn, but what or who’s corn will be more attractive to the buyer. The corn market started off skittish yesterday after the Crop Progress data but manage to close near the highs. On the Ethanol Front to no one’s surprise corn use for ethanol is down from a year ago.
Co-founded by surfing sensation Laird Hamilton, the plant-based coffee creamer company filed on Monday to raise up to $40 million in an initial public offering. In overnight electronic session the December corn is currently trading at 355 which is 3 cents lower. General Comments: Cotton closed a little higher on follow-through buying. CVR Energy, Inc. was founded in 1906 and is based in Sugar Land, Texas. Sugar prices fall by Rs.10 at naka level on Wednesday. 3,320) for M-grade.On Bombay Sugar Merchants Association’s spot rates (Rs/Quintal): S-grade Rs.


My interpretation of Pikkarainen’s view is that the dollar will lose its primacy status, and gold, the dollar, euro, yen, pound, renminbi, etc., will be competing each other. The Australian dollar has weakened after several days of rising at its cross with the US dollar after the GDP data was released. Good for BTC.” Many analysts interpret a declining dollar as a positive for Bitcoin because alternative stores of value are priced by the dollar. The leading edge of the massive Boomer generation knows that every dollar spent is a dollar it cannot re-earn or replenish.
The US dollar briefly traded below CAD1.30 for the first time since January yesterday and bounced to almost CAD1.3090 in yesterday’s reversal. Gold (GLD) is off this morning as the dollar manages a small rebound against the Euro (FXE) and Sterling (FXB). less After poking above $1.20 for the first time in more than two years, the euro reversed lower yesterday and is continuing to succumb to profit-taking pressures today.
I believe that , the dollar, the euro and other currencies take part. less Silver markets initially tried to rally during the trading session, breaking above the $29 level but cratered later in the day as the US dollar picked up strength. After poking above $1.20 for the first time in more than two years, the euro reversed lower yesterday and is continuing to succumb to profit-taking pressures today.


Higher revenue can be attributed to the higher price of gold and higher production of copper, but the actual gold production has fallen significantly from last year. Firstly, building on the points made above, Barrick Gold has, ironically, been producing less gold in the last year than before, favoring copper instead. The idea behind investing in gold miners is to amplify the effects of increases in the gold price. In my latest article on precious metals, I talked extensively about gold and silver and determined that silver has more upside potential than gold.
In 2002 when gold was $300 per ounce, MAM recommended to its investors to put 50% of their investment assets into physical gold stored outside the banking system. However, investing in gold miners has many risks which investing in straight-up physical gold doesn’t. These considerations are driving the price of gold and will determine gold’s position in a multi-reserve currency system. Nonetheless, I believe there are many reasons to stay away from gold miners, and instead of buying gold outright.
The case for the metal that gets no respect remains compelling, but the price action is repelling investors from buying platinum at less than half the price of gold. Barrick Gold Corporation (GOLD) has made headline news due to its becoming the latest holding in Berkshire Hathaway’s (BRK.B) portfolio.


CVR Refining LP includes several complex full coking crude oil refineries, along with a crude oil gathering system, pipelines and storage tanks, and marketing and supply. The company’s refineries can process blends of a variety of crude oil ranging from heavy sour to light sweet crude oil. BEFORE THE BELL Canada s main stock index futures advanced as oil prices rose, following a drop in U.S. crude inventories. Thus, the deal will boost Whitecap Resources’ production volume by 37% next year, and it will slightly shift its product mix towards more natural gas and less oil.
In commodities, oil prices rose, following a drop in U.S. crude inventories.
The COVID-related lockdown led to unprecedented global demand destruction, and this was made worse by the drop in oil and gas prices. The U.S. government is alone among major oil-consuming nations in publishing weekly data on crude stocks and imports, which carries enormous influence among oil traders. In comparison, Whitecap Resources should produce 60,000 boe/d next year, and during H1 2020, oil, NGL, and gas represented 77%, 7%, and 16% of total production, respectively.
Oil and Gas demand dropped due to the COVID-19 pandemic, and OPEC+ curtailed oil-equivalent production. Oil and gas prices are very volatile and could drop or rally on short notice.

United States

Fed Chair Jerome Powell told us last week they will let inflation run higher than “normal” to make up for stubbornly “below average” inflation for some time. Fed Governor Lael Brainard said that the Fed should infuse even more stimulus to make good on its vow for stronger job growth and higher inflation. Zillow lost money the last five years, but Wall Street analysts (Yahoo Finance) expect…another loss this year (-$0.40) and another loss next year (-$0.13).
The bullish argument is that the Fed’s new inflation averaging policy will lead to near-zero interest rates for years, which means lower relative risks for corporate bonds. Except for investment-grade bonds in the US and foreign-government fixed income in developed markets, across-the-board gains dominated the major asset classes higher last month. As for Lockheed Martin, over the next three years, Wall Street analysts expect this company to turn out an average annual EPS growth rate of 9.5%.
He plans to contrast his proposal for a gradual reopening that follows public health guidelines with Trump’s demand for resuming in-person classes quickly as a new school year begins. However, this year, market participants are wondering whether the jinx can break to ensure Wall Street’s rally of six months in a row, defying coronavirus. This provided a positive backdrop to another tech rally on Wall Street, which drove US markets to new record highs on Tuesday. Before lawmakers on Capitol Hill, he defended his management of the agency and said that no one in the Trump administration had tried to interfere with postal operations.


All through the recent turbulent period in the relationship, Beijing has remained unwaveringly committed to ensuring the stability of China-US economic and trade relationship.


Emmanuel Macron’s second visit to Beirut since last month’s devastating blasts was much to-do about nothing, writes Bloomberg Opinion’s Bobby Ghosh. Merkel spokesman Seibert said the German government will inform its partners in the European Union and NATO about the test results. Boris Johnson’s government announced another U-turn on Wednesday, caving in to pressure from opponents and keeping local lockdown rules in place after an increase in Covid-19 cases.
The conference “only has a purpose if it’s accompanied by a profound transformation,” said the host, one Emmanuel Macron. Ahead of Macron’s second visit, many Lebanese half-joked on social media that they might be better off if he revived French colonial rule. less The buzz word of Central Bank Chiefs at Jackson Hole was INFLATION: says Powell, says ECB Chief Economist, says Governor of BoE. Germany will seek a coordinated response against the Kremlin over the incident and wants an urgent explanation from Russia about what happened, according to Angela Merkel’s chief spokesman.
Yet what if the political elite ignores Macron’s call, just as it has all previous appeals for reform?
The new prime minister was heckled when he tried to mimic Macron’s original tour of Beirut’s devastated neighborhoods. The risk they see is some more talk along these lines from next week’s ECB meeting (September 10).