Daily Close | Forex, Metals, Oil, Agriculture April 20, 2021



You can see how on March 24th we were bullish some commodities such as coffee, corn and soybeans, and spring wheat, as well as slightly friendly natural gas. This is the main reason, as well as U.S. planting delays from cold weather, for corn prices to make new highs. Will it warm up and turn wetter to improve U.S. corn planting weather, as well as for spring wheat? Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.


Any signs that Beijing is rethinking its support for a central, state-owned firm like China Huarong would have deep repercussions for the broader dollar bond market. Any signs Beijing is rethinking its support for a central, state-owned firm like China Huarong would have deep repercussions for the broader dollar bond market. The company’s 5.5% bond maturing in 2025 fell 9.4 cents to 78 cents on the dollar as of 6:10 p.m. in Hong Kong, Bloomberg-compiled prices show.
Almost all of China Huarong’s $22 billion in dollar bonds are issued or guaranteed by China Huarong International Holdings Ltd., the offshore unit. It continues to soar due to renewed global weather problems, the weaker dollar, and stellar Chinese demand. Yet while Dogecoin has a lot of memes and jokes behind it, the dollar has the U.S. economy and population. In addition, the U.S. dollar has been weakening in response to the U.S. printing more money. O’Rourke says this explains why there is so much trust in the dollar.


Carmarkers’ preference for cleaner sources of aluminum and cobalt suggest they’ll follow a similar line on nickel, said Socrates Economou, head of nickel and cobalt trading at Trafigura. “You need higher prices of $19,000 per ton imminently to incentivize the correct nickel output that the market needs,” Economou said in an interview. While there are various routes to produce battery-grade nickel, “you need higher prices in order to support these missions.
BloombergNEF analysts expect demand for battery-grade nickel will be 16 times higher by 2030. Wall Street banks lowered their nickel forecasts after futures plunged from about $19,000 a ton to $16,000. “GFG Alliance can confirm Alvance Aluminium Duffel is enjoying the benefits of recent strong aluminum markets and its excellent relationships with customers. They try to pump in financial resources from savings, by pledging spouses’ gold etc. The group includes Coatue Management, Elliott Investment Management and Silver Lake.


Hardy said more than half of the 1 billion barrels of excess oil stocks squirreled away in response to the market collapse in 2020 have already been drained. OPEC+ has decided to revive just over 2 million barrels a day of the 8 million barrels of production it’s been keeping offline. “We believe $70 to $75 a barrel is an entirely sensible outcome for the third quarter,” he said, making a rare specific call on oil prices. less In line with the general risk-off sentiment, oil prices have come under notable selling pressure with both Brent and WTI crude futures falling 2-2.5%.
The price of a key U.S. oil benchmark briefly traded below zero as there was nowhere to store the excess oil. After EIA’s report for last week’s mild build of 309,000 barrels, we expect total gasoline stocks to build by 500,000 barrels for the week of April 16th. While the oil futures curve suggests growing confidence in a demand recovery, the virus is rampant in countries such as India.
“Oil is dropping along with the broader risk market decline,” said Bart Melek, head of commodity strategy at TD Securities. Meanwhile, U.S. oil stockpiles are expected to have fallen last week, which would extend the streak of drawdowns to four weeks, according to a Bloomberg survey. Annual crude imports in the Asian country fell for the first fiscal year since the late 1990s as refiners cut run-rates amid lower demand. Data from industry group API for gasoline stocks showed a draw of 1.617 million barrels for the week of Apr 16th.
It’s a bullish call for a solid recovery in global petroleum use after the pandemic caused demand for jet fuel, diesel and gasoline to collapse. However, while the initial reaction has seen oil prices drop, the likelihood that such a bill will be signed into law is still small at this stage. That includes nearly $5 billion in retail bonds and loans, and $15 billion from oil and gas companies. The excess inventory draw downs should be largely completed by the end of the third quarter of this year, even with planned production increases by OPEC.
A return to the deal could include lifting U.S. sanctions on the Persian Gulf country’s oil exports.
Historic dates were selected to avoid school and other public holidays The resurgence in driving will provide a boost for gasoline demand into the summer months. For more details visit the page US East & West Coast Gasoline Import Forecast or copy and paste link in EIKON search box: amers1.apps.cp.extranet.thomsonreuters.biz/cms/?navid=942731478 Your comments are always welcome. This can serve as opportunity for NWE gasoline exports to fill in supply gaps.

United States

These days, streaming entertainment giant Netflix (NASDAQ:NFLX) is finding it hard to excite investors, after a record-breaking 2020. For the first time in a long time, Wall Street pundits found themselves trying to explain a weak market.Covid-19 cases are surging around the world. 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. Options traders have also taken a bullish stance at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).
Notes it considered all currently available evidence of unusual clots, including 8 reports from the US. The tech-heavy Nasdaq 100, typically seen as a defensive area of the market, dropped 0.7%. As US Treasury Secretary Yellen advocated, the US must “go big” and not make the same mistakes of underspending as it did in the 2008 crisis. 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.
Wall Street was looking for a profit of $0.25 per share on sales of $1.25 billion. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. Unheard of in the days when all Wall Street could say was “Buy”. You wouldn’t be able to stream Netflix Inc. (NASDAQ: NFLX) if Netflix was not hosted on AWS.
The tech-heavy NASDAQ Index has gained about 8% this year.