Daily Close | Forex, Metals, Oil, Agriculture December 29, 2020



Just over a quarter into the marketing year, corn inspections are 13,734,004 tons compared to last year’s 8,052,178 tons. Its production segment includes the production and sale of ethanol and co-products, such as corn oil, distillers’ grains, and corn gluten meal. Corn was reported at 993.710 tons, up 223,588 from the previous week, and 584,764 higher than last year at this time. The corn market is seeing these reasonings and settled towards the highs in yesterday’s action.
In the overnight electronic session, the March corn is currently trading at 454 ½ which is 2 cents lower.


Canadian Dollar bulls are likely piggybacking on the continuation of broad US Dollar weakness and a retracement by the Sterling as Brexit deal optimism simmers.


Institutional money managers have purchased only in limited amounts of gold and silver (and related miners) because they do not see inflation in traditional indexes like the CPI. As good as gold looks, silver looks even better! Gold is the ultimate asset and investors who took my $1778 buy recommendation are looking good.


Pacific Ethanol’s customers are mainly integrated oil companies and gasoline marketers that blend ethanol into their gasoline. The bond fund outflows of March followed the downdraft in oil prices caused by the onset of the pandemic, which caused the sharp sell-off in the stock market. The volatility in crude oil and gasoline prices has been clearly reflected in recent years in both the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE). Also, most countries are focusing on revamping their industrial sectors to make them more energy-efficient, which poses a long-term challenge for the oil and gas sector.
But remember, this turmoil was not limited to just tax-free bonds; corporate bonds, stocks, oil – all were plummeting. WTI has gained 6.5% in December.

United States

Small cap growth fell 99 basis points which is pretty bad for a day where the Nasdaq was up 74 basis points. The Nasdaq 100 was up 1.01% while the average stock in the index was down 17 basis points. 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. The FANG stocks were up 2.76% while the rest of the Nasdaq 100 was down 33 basis points.
He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. Mr. Kotok’s articles and financial market commentaries have appeared in The New York Times, The Wall Street Journal, Barron’s, and other publications. 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. Unheard of in the days when all Wall Street could say was “Buy”.


GBP/CAD price action seems to have drifted lower as the Pound Sterling surrenders recent gains due to fading Brexit deal optimism.