Daily Close | Forex, Metals, Oil, Agriculture February 10, 2021



Changes in the USDA’s world wheat & corn usage and ending stocks also seemed to impact this month’s US corn balance sheet. But, the World Board also increase China’s and the World’s wheat feeding outlook by 5 mmt while reducing Europe’s and other countries’ corn imports by 3.8 mmt. However, the World Board’s minimal decline in its US corn exports and their modest drop in corn’s ending stocks was the biggest surprise. The USDA did increase China’s corn imports by 6.5 mmt to 24 mmt this month, their highest total ever.
The surprise corn data did not help to boost prices in ethanol as crude and products were higher with a lower U.S. dollar and a higher stock market. That will be a positive for ethanol utilization and were also going to see them spin up production which is good for corn demand. Along with the China’s higher feed usage, India’s domestic wheat demand was also raised by 3.5 mmt. How did this occur with no changes in corn’s feed or ethanol demand levels this month?
The USDA did slightly increase soybeans 20/21 exports as expected & left the US wheat balance sheet unchanged. February’s US soybean balance sheet followed the trade’s script when the World Board increased its 2020/21 export forecast by 20 million bu to 2.25 billion. In the overnight electronic session, the march corn is currently trading at 550 which is 6 ½ cents lower. As mentioned, the USDA didn’t change wheat’s 2020/21 US S&D levels despite export taxes being imposed on Russia’s remaining exports this crop season.


It‘s my view that we‘re on the way to making another dollar top, after which much lower greenback values would follow. Those leads are usually something that has an obvious macroeconomic impact, like the dollar or interest rates. In short, yes, the U.S. dollar is down, thereby boosting gold.


Figure 2 – COMEX Gold Futures Gold formed a reversal yesterday, but it ended the session slightly higher. The anticipated gold rebound is underway, and the significant upper knot of yesterday‘s session isn‘t concerning – gold is not rolling over to the downside here. Do gold’s most recent rally and the inflow of capital into silver change the fundamental outlook of the PMs? Having been at the financial markets when the Great Recession arrived, she experienced many bull and bear markets – be it in stocks, bonds, gold and silver.
Especially considering that gold’s reversal took place almost right at the triangle-vertex-based reversal and during USD’s breakout’s verification. Today, gold moved slightly higher, but the move was too small to change anything. He is well known for combining technical, fundamental and sentiment analysis into one accurate conclusion about the gold market. He writes a bi-weekly in-depth analysis for one of Germany´s largest gold and silver retailer the “pro aurum group”.
As well he is publishing his bi-weekly comprehensive for his numerous international readers focusing on Gold, Silver, Mining, commodities and cryptocurrencies. I emphasized that the outcome does not change their medium-term trends and the above confirmations signal that the USDX is heading north and gold is heading south. Gold moved higher once again yesterday (Feb. 9), but it reversed and declined before the closing bell. Gold didn’t move above yesterday’s intraday high, which means that the short-term top might already be in.
The move lower in the latter was quite visible, so what we saw in gold should be viewed as USDX’s underperformance and thus a bearish sign. Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools. A look at the gold market. What about silver, did the white metal change anything? Yes, the recent massive interest in silver has everyone talking about getting in on the action.
His unique has an outstanding track record and helps investors all over the world to make better decisions in the gold-market.
Let alone silver.


The gasoline index continued to increase, rising 7.4 percent in January and accounting for most of the seasonally adjusted increase in the all items index. Although the indexes for electricity and natural gas declined, the energy index rose 3.5 percent over the month. (formerly known as Oman Oil Company S.A.0.C.)

United States

While Powell remained confident that the Fed’s approach will produce satisfactory outcomes, he remained adamant that monetary policy alone will not solve our economic problems. WSJ analyzed how Reddit posts, YouTube videos and tweets by personalities including Elon Musk spread online and fueled a trading craze that turned Wall Street upside down. Some bearish hedge funds, including Melvin Capital Management, took heavy losses—a development hailed by some individual investors as a triumph over Wall Street.
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. 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. Investment management concern is one of the weakest performers on the Nasdaq today. On January 8, the company announced its decision to suspend President Donald Trump’s account.
The (NASDAQ:MILN) invests in businesses that are likely to benefit from the spending habits of millennials. January’s FOMC meeting saw little change in the Fed’s policy stance. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. Year-over-year Core CPI (ex Food and Energy) came in at 1.41%, down from 1.62% the previous month and below the Fed’s 2% PCE target.
One of the best-performing stocks on the Nasdaq this afternoon is , which is up 305.5% at $21.09 at last check. Economists surveyed by The Wall Street Journal had expected a 0.1% increase in core prices in January. Unheard of in the days when all Wall Street could say was “Buy”. Currently, 76.4% of the companies in HACK come from the US, followed by Israel (7.3%), UK (3.9%), Japan (3.6%) and Canada (3.5%).