Daily Close | Forex, Metals, Oil, Agriculture December 30, 2020



After the soybeans flirted with the teens in yesterday’s trading session the market is giving back roughly a dime in the early overnight session. In the overnight electronic session, the March corn is currently trading at 64 ¼ which is 1 ¾ of a cent lower. The March corn punched through 460 and Steve Freed, V.P.


USD/JPY price action could continue to face selling pressure headed into the new year as US Dollar bears strongarm the major currency pair lower. Over the last 24 hours, the precious metals market did more or less nothing, despite the new daily decline in the US Dollar Index. Lower U.S. dollar and exports continuing to rise, and the carryover continues to diminish forcing and hoping for a good growing season. The Yen has strengthened considerably against its US Dollar peer, however, as spot USD/JPY edges toward its lowest monthly close since October 2016.
The Dollar-Yen might look toward the 102.50-price level, which is underpinned by the March swing lows, as a potential area of technical support.


less As of Wednesday (Dec. 30) morning, gold is range trading and remains more or less flat as it seeks momentum. Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools. After a temporary breakout, gold is back below its 2011 high. Last week was also light, with only 45 kbd departing on 2 vessels SILVER EUPLECTA (9692349) and TORM ALICE (9465966). Let’s get back to silver once again.


Vessel Movements DIESEL EXPORTS: for this week, 5 vessels loading or underway, and 1 on subs, for a total diesel export volume over 218 thousand barrels per day (kbd). The changes require manufacturers to determine and visibly display compatibility to E20, E85, and E100 gasoline blends in new vehicles.

United States

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 rally in technology stocks has helped the Nasdaq Composite add nearly 43% this year despite the pandemic-led slump. Last week saw over 622 kbd of diesel departing the US, with all but 89 kbd emanating from the USGC. Along with that, on Dec 26, President Donald Trump signed the new coronavirus relief package of $900 billion into law.
The Fed will not hike rates until 2023 and this will in turn promote the investing environment. Unheard of in the days when all Wall Street could say was “Buy”.


Chinese President Xi Jinping and European Commission President von der Leyen announced agreement to the terms of the Comprehensive Agreement on Investments (CAI) this morning.


The bilateral deal between China and the EU may signal further trouble for the United States as the new administration looks to continue a harder stance toward China. The CAI will provide a uniform framework for trade and investment between China and the EU, replacing the bilateral agreements between China and individual EU member states. The EU’s key desire for the deal was to ensure a level playing field between the two economies.