Daily Close | Forex, Metals, Oil, Agriculture April 15, 2021

We could see some eye-popping moves in the export market as Brazil wants to compete with the U.S., especially in a fragile corn market with carryover concerns. The weather in Florida is good with a few showers or dry weather to promote good tree health and fruit formation. Mexican crop conditions in central and southern areas are called good with rains, but earlier dry weather might have hurt production. USDA said that net weekly Upland Cotton export sales were 122,300 bales this year and 22,800 bales next year.
The US stock market has been generally firm to help support ideas of a better economy here and potentially increased demand for Cotton products. Stress to trees could return if the dry weather continues as is in the forecast. The demand for US Cotton in the export market has been strong. On the Ethanol front, corn-based ethanol jumps 58% in Brazil with more growth expected while U.S. production and supply are down on the week. It remains dry in western and southern Texas and planting of Cotton has been delayed.
In the overnight electronic session, the May corn is currently trading at 598 ½ which is 4 ½ cents higher.

less General Comments: Futures were sharply higher on a weaker US Dollar and a recovery in the stock market. Instead, the dollar followed Treasury yields lower.

To produce one tonne of copper sulphate, Kondody said the requirement of copper is around 300 kg. The rising price of copper has reported to have prompted companies to depend on the unorganised segment to procure copper from the scrap materials. Bordeaux solution, using a mixture of copper sulphate and quicklime, is applied on these crops and others such as ginger, cardamom and grapes to control fungal and bacterial disease. This has pushed up the production cost of copper sulphate by 20 per cent, he said.
The surge in copper price was reflected in MCX Metal Exchange as well which stood at ₹650-750 per kg. This would pave the way for GST evasion on copper, which is currently at 18 per cent.

On the Crude Oil front, the market soared on bullish news and even the IEA comments were bullish, and a very bullish EIA number and away the market flew.

One stock outperforming on the Nasdaq today is , last seen up 7.1% at $25.58, though the catalyst is unclear. Today, Wall Street continues to use Zacks research including the Zacks Rank and Zacks Equity Research, which combines the best of quantitative and qualitative analysis. less The New York Times published a glowing portrait of Fed Chairman Jay Powell last week. Meanwhile, Paul Volcker, during his time as Fed chair (1979-’87), was considered a friend of the bankers for raising them.
Research from our team of in-house analysts has been quoted by The Wall Street Journal, Bloomberg, MarketWatch, USA Today, Kitco, Reuters, US News & World Report, CNBC, and more. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. Before joining Mauldin Economics, Jared was one of Wall Street’s preeminent risk-takers. The Nasdaq Biotech ETF (IBB) has now gone on a 3-day win-streak bouncing from Monday’s test of the 200-day moving average at $145.67.
Other indexes like the NASDAQ and Dow followed suit. Unheard of in the days when all Wall Street could say was “Buy”.