Daily Close | Forex, Metals, Oil, Agriculture August 25, 2020



less Uptrend scenario The uptrend may be expected to continue, while the coffee market is trading above support level 114, which will be followed by reaching resistance level 132. Uptrend scenario An uptrend will start as soon, as the soybean market rises above resistance level 917, which will be followed by moving up to resistance level 941. Downtrend scenario A downtrend will start as soon, as the soybean market drops below support level 854, which will be followed by moving down to support level 816.
Downtrend scenario An downtrend will start as soon, as the coffee market drops below support level 109, which will be followed by moving down to support level 95. Wheat has traded in a choppy fashion all week as the market tries to decide which way Wheat prices are going here and overseas. It also covers the commodities market daily focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN & WHEAT. The Pro Farmer crop tour found a lot of good looking Soybean plants with plenty of pods per plant.
The Soybeans in Iowa were in much better condition than the Corn as the derecho did not cause as much damage. Corn in surrounding areas looks good and USDA called for record yield potential in its reports this month. Weekly Corn Futures Weekly Oats Futures Soybeans were a little lower after making new highs for the move. The derecho brought 100 mph winds to parts of Iowa and Illinois and flattened many Corn crops.
China was a buyer of US Corn again late last week. The US weather is considered mixed for Soybeans with cooler temperatures and some rain in the north, but dry conditions further to the south. It is not known how much of the Corn can recover. Russian Winter Wheat yields have improved over time as harvesters move into areas that had better-growing conditions. USDA noted that China had bought a lot of new crop Soybeans in its weekly sales report on Thursday. Spring Wheat was developing under good growing conditions in both the US and Canada.
It is still dry in France and Russia and now Spring Wheat areas of Russia are being affected. China has become a much more active buyer of Soybeans here in the US. About half of the Argentine Wheat belt is too dry.


The dollar’s purchasing power has been falling since 1971 when the US dollar was taken off the gold standard. If the US dollar is going to fall and stop being the world’s reserve currency, then gold and silver will rise significantly. Printing so much money devalues the dollar, especially since it is a fiat currency not backed by gold, silver or any physical asset. The dollar is going to fall through the floor and inflation is going to ravish the United States.
Prior examples include short volatility (blew up in 2018), short US Treasuries (blew up in 2020), and long the US dollar (blew up in 2016). China, by contrast, is a rising superpower that could in time topple the U.S. dollar’s world reserve status. The entire American economy is built on the foundation of the dollar being the world’s reserve currency. It’s been a pretty rough Q3 so far for the US Dollar, and with a little over a month to go quite a bit remains unsettled in the backdrop.
The cumulative effect of all that USD-printing has been a weaker US Dollar; and the Greenback has lost as much as 5.4% in a little less than two months.
Peter said the dollar crisis will be much worse than the financial crisis. Gross profit on a dollar basis was $19.3 million, down from $673 million in the prior year period. They also don’t carry the risk that the equities market carries due to the US Dollar denomination. This contrasted with bullishness in foreign markets and a lower dollar exchange rate. Many believe that these monetary policies are extremely inflationary, and they do not look good for the US dollar.
The looming dollar crisis. It is borrowing 60 cents of every dollar it spends. It is the opposite side to the US dollar.


Central banks and major institutions sold gold short on the paper market, after the uptick rule was eliminated, and that allowed them to pound the gold market down. The physical gold market got shut down due to the lock-down, so you could not buy physical gold. Leading gold mining stock, Kirkland Lake Gold Ltd (KL), has been pulling back after making a new all time high on August 5th, 2020. A gold producer with AISC of around $1,000 looks compelling at the current gold price, but I think that Hummingbird has been under-delivering at Yanfolila.
Gold So are we at the top of the market or are we in a correction before gold zooms even farther up? We focus on trading gold because gold has become a currency and is a leading economic indicator of the monetary system. In a recent interview with CNBC, a reporter asked us why Berkshire Hathaway (BRK-B) was buying Barrick Gold (GOLD) common stock shares. We recommend buying gold and silver for the long term, while using corrections in the short term to either day trade or build a long-term position.
There is always the possibility that the market will correct or collapse, but the major reason that happened last time was major manipulation of the gold market. If you were short and naked, with the idea of bringing the future contract price down enough to buy the physical gold, you could not cover the short position. Every time gold reaches the Buy 2 level, there is a 95% chance that buyers will come in and the market will revert back to the mean or higher.
The net present value stood at $337 million using $1,500 per ounce of gold and a 10% discount rate. Far more investors are in gold and silver, making it extremely difficult or impossible to manipulate the price. Short term you can trade the corrections, but keep that long-term long position in gold. At that price of gold, the internal rate of return of Dugbe was 43% with average all-in-sustaining costs of $904 per ounce. This seems achievable as the mine poured 24,054 ounces of gold in Q2 2020 at AISC of $983 per ounce.
As the government has become the buyer of last resort and is printing more and more money, investors are shifting their assets into gold and silver.
(Source: Hummingbird Resources) In 2020, Yanfolila is expected to produce 110,000-125,000 ounces of gold at all-in-sustaining costs (AISC) of up to $995 per ounce. They were able to manipulate the price of gold when fewer people were in the market. less We continue to be extremely bullish on gold and silver.


Downtrend scenario A downtrend will start as soon, as natural gas drops below support level 2.455, which will be followed by moving down to support level 2.160. Downtrend scenario A downtrend will start as soon, as natural gas drops below support level 2.160, which will be followed by moving down to support level 1.640. Pretty much every segment of the energy market has suffered over the past year: oil and gas producers off 49%, oil services outfits down 54%, and refiners 21% weaker.
For readers interested in following natural gas fundamentals, HFI Research Natural Gas premium provides: For more info, . In addition, current secondary market vessel rates would support an unrealistic, worst case scenario of liquidation, and still have enough asset coverage. In other words, $21,083 per vessel per day equates to an . Source: Bloomberg Oil outperformed in the commodity complex today (ahead of tonight’s inventory data, amid huge shut-ins for US crude production in the Gulf.
So the simple explanation for rising crude is less production means less supply and higher prices. As bad as the oil and gas segment has sunk, clean energy has risen. We remain short EQT as our play on the near-term natural gas pullback. Pulling its components from the S&P 500, XLE offers concentrated exposure to oil and gas giants such as Chevron Corp. and Exxon Mobil Corp. Oil prices were higher today, driven in large part by significant shut-ins across the Gulf of Mexico.
“Due to the moribund demand for gasoline and diesel fuels these days, due to the pandemic,, which itself is remarkable,” John Kilduff from Again Capital told CNBC on Monday. Oil was cheap in the 1960s, until 79 million baby-boomers replaced 44 million silent generation folks in the 20-35-year age cohort. Source: Bloomberg Oil was trading around $43.35 ahead of the print, and was little changed after the data. said Bjornar Tonhaugen, head of oil markets at Rystad Energy, in a daily note.
Yet oil prices have been reluctant to climb higher for more than a few hours. First quarter 2022, is when the Nordia Bank loan and the vessel Los Angeles come due. Source: HFI Research And given the storm is going to be passing over Sabine Pass, US LNG exports will be impacted as we’ve seen in the last two days. Source: Bloomberg WTI closed at its highest for the front-month contract since early March…

United States

Price inflation remained low and at the end of the period of expansion, consumer price inflation was below 2.0 percent, as mentioned, the Fed’s target level. They are also more than 38 percent lower than President Trump’s acceptance speech at the Republican convention four years ago, which drew 34.9 million viewers. (Getty Images) Barron Trump is the president’s youngest son and his only child to his current wife, and first lady of the united states, Melania Trump.
“Since taking office, my husband and this administration have taken historic measures to empower and support women in the United States – and around the world,” Ms Trump said.
Even as conflicts with the administration of President Donald Trump escalate on multiple fronts, Chinese officials are looking ahead to a post-Trump world order. Mr DeJoy, a Trump-appointee and longtime supporter of the president, announced changes to USPS earlier this year as a way to help with its decline in revenue. Others were just as vocal: Chicago Fed President Evans recently noted that the Fed did not need to raise rates until inflation headed to 2.5%.
Donald Trump has led the White House for almost four years, and this November he will battle Joe Biden to lead the country for the next four years. Ms Trump, a former runway model, also previously had a hand in the family business having worked as an executive vice president of the Trump organisation. However, the rapid acceleration of consumer price inflation that many analysts expected from the Fed’s largesse, did not happen. In other words, as Axel cautions, “the market is overhyping the Fed’s ability to change the course of inflation in the future, under any policy.”
While these scenarios are extreme, they demonstrate the large variation in Fed policy regimes that could result from adoption of price targeting. Trump campaign strategists told the Post they hope Ms Trump will help attract suburban woman, who they fear are a weak spot for the president. Then when the economy began to grow, the Fed went through three rounds of quantitative easing in order to spur the economy onward.
For one, the Federal Reserve, under the leadership of Ben Bernanke, began to stimulate the US economy during the Great Recession in order to get the economy growing again. Donald Trump promised pardons for any officials who broke the law carrying out his hardline immigration policies, claims a former official who has endorsed Joe Biden for president. Jerushah Duford wrote in USA Today calling on evangelical Christian women to step up where church leaders would not as her uncle Franklin Graham continues to support Mr Trump.
These diseases affect around 500-1,000, 20,000 and 15,000 patients in the US respectively, and median survival rates are generally less than 1 year. This time around, Ms Trump – whose first language is not English – has the resources of the White House at her disposal. He divorced from his first wife Vanessa Trump in 2018, with whom he has five children.