Daily Close | Forex, Metals, Oil, Agriculture December 10, 2020



This, combined with lower crop yield, measured in bushels per acre, make planting commodity soybean commercially more attractive than HOS seeds. If CLXT’s HOS seeds are superior to other soybean seeds in the market, why hasn’t there been more excitement among farmers for the product? CLXT soybean oil is marketed as a premium oil to foodservice providers. CLXT commercialized the high oleic soybean “HOS through the following: The lack of experience in cultivation was soon evident.
For example, one farmer was guilty of germinating Monsanto’s GMO soybean seeds without paying the company. There is only so much premium a customer will pay for a healthier soybean oil alternative. Previous ventures on the field haven’t been successful, as demonstrated in the operating losses from growing and processing its high oleic soybeans during the past two years. USDA said that net Upland Cotton weekly export sales were 403,900 bales this year and 48,000 bales next year.
Reports indicate that some Cotton could have been damaged in Georgia and the Carolinas and into eastern Virginia due to the excessive winds and rains caused by the hurricanes. Total gain over the life of the license is in the ballpark of $10 million In my opinion, high-fiber wheat has big earnings potential.


Source: FRED The divergent direction of the real interest rate continues to place upward pressure on the euro, reinforcing the deflationary problem the central bank is trying to fight. More QE and a static policy rate will push the euro higher, particularly during a global manufacturing recovery. These currency dynamics and the outlook for the US dollar were discussed in the for EPB Macro Research members.


A large increase in steel prices, including the implementation of new tariffs, could add new costs that hurt an already downward-trending net income margin. The silver lining is Darwinian, in that such incompetence destroyed sufficient capital that MLP CEFs are no longer big enough to matter to anyone other than their hapless investors. The company states that within the last 3 fiscal years, raw steel purchases accounted for around 10% of total revenues.


According to the IEA, oil demand has already outstripped oil supply during 3Q20, as demand for oil has recovered in line with the recovery from the pandemic. Intuitively, oil ETFs may sound like the most direct way to play on rising oil prices. But even in the absence of the COVID crisis, oil ETFs have historically not been a good tracker of oil prices. Because oil ETFs hold oil futures, but these contracts expire, the ETF managers have to roll over their futures positions every month close to expiry.
The reality is that when crude oil prices are low, that often reflects a weak economy and weak demand for refined oils, and thus the downstream segments also suffer. While peak production can be achieved within months of first oil, by the end of the first year of operation, output rates are often just 20-30% of peak levels. As oil prices recover, this would make them relatively strong proxies to the price recovery. In other words, the inventory overhang remains manageable, paving the way for oil prices to move higher.
The current rally is being fueled by higher crude oil prices (now nearing $50) and a broader . While the energy portion is a bit deceiving (mainly pipelines, which are pretty insulated to oil prices), the remaining portfolio carries a lot more risk than the average bank. I believe this is a crucial point that underlies a shift in oil market dynamics over the next two years towards one with more upside support. After almost two years of unprofitable operations, CLXT decided to abandon its commercialization efforts of the HOS oil and focus on seed production.
I believe oil prices can trend up towards US$60-70/bbl. Thus, as long as the futures curve remains in contango, I would recommend avoiding oil ETFs. Recently the Chinese oil and gas giant, CNOOC (CEO) has found themselves brought towards the front of the current geopolitical tensions between the United States and China. Crude Value Insights offers you an investing service and community focused on oil and natural gas.
This is because of the shape that the oil futures curve has tended to take on most of the time, called contango.
These ETFs invest in near-dated oil futures, which are the ones we see flashing across news screens globally. I recommend buying a basket of these 5 stocks (for diversification) as a proxy to the oil price. Source: EIA Short-Term Energy Outlook As of 3Q20, US and OECD oil inventories sit at about 360 mmbbls above the 2015-2019 average level.

United States

She gained fame as the Democrats’ leading trade counsel in negotiating stronger labor provisions with the Republicans’ Lighthizer-led team in the US-Mexico-Canada trade agreement. less It had been a while since the US had a blockbuster auction, especially after two mediocre treasury sales earlier this year. Wang Yong, director of Peking University’s international political economy centre, said Tai’s selection was a positive move for future trade negotiations between China and the US.
“In contrast to Trump’s and Lighthizer’s approach, which favours bilateral trade war, Biden doesn’t see tariffs as the way to go,” Wu said. The fake family accounts, which altogether , had also promoted the non-existent Gay Voices for Trump fundraising initiative – all of which Twitter has since removed. Here, while previously Democrats, and now Republicans tout the US “income recovery” they may have forgotten about half of America, but one entity remembers well: loan collectors.
While the Nasdaq 100 is up about 12.5% since the election, thirteen stocks are up by more than twice the amount of the index itself. So I believe the Biden administration will eventually remove all the tariffs put in place by the Trump administration, because American businesses and consumers have suffered from that. LTSE exists to flag firms that should not be valued only by Wall Street short-termites; MEMX exists to fight parasitic National Market System (NMS)-created excessive exchange fees.
These wells are termed as DUCs, and the US shale regions have a significant inventory of such wells, which enables a faster ramp-up given they are already ‘halfway built’. At the bottom of the table, we have also included the performance of the five mega-cap stocks of the Nasdaq 100. As hopes for a Brexit deal sink, the pound sterling is down, giving a boost to UK stocks earning foreign currency while Wall Street is again downing the Dow. The Fed’s latest Flow of Funds report released at noon today showed the latest snapshot of the US “household” sector as of Sept 30 2020.
For example, LTSE exists to avoid short-termism – the short-term rewards Wall Street (purportedly) pays publicly traded firms. “The US’ negotiating tactics will also need to change.” The Trump intermediary was first son-in-law Kushner, husband of Ivanka, who got UAE funding for a bankrupt family NY office tower. The stock began trading at $146 on the Nasdaq Stock Market, higher than its initial-public-offering price of $68 a share.
President Trump announced on September 20, however, that ByteDance received tentative approval for the Oracle-Walmart deal with ByteDance.
Meanwhile, the EIA expects continued stock draws from the US and OECD countries of about 151mmbbls in 4Q20 followed by another 40mmbbls in 1Q21. I created the information below by combining the “U.S. Dividend Champions” spreadsheet hosted here with upcoming dividend information from Nasdaq.


The ECB has a major policy dilemma due to a massive debt burden that is crushing the inflation rate. In a highly expected decision, the ECB added another 500 billion euros or about 600 billion dollars to the European “QE” program. The European Central Bank (ECB) expanded its bond-buying program in the latest policy announcement. ECB President Christine Lagarde, who is trying to ward off a double-dip recession, highlighted that financial conditions have worsened with the rebound in Covid-19 cases.
The European Union published plans for a failure of the negotiations which end Sunday.