Daily Close | Forex, Metals, Oil, Agriculture February 17, 2021



The Brazilian market is fighting dry weather and the cold snap in this country fueled demand for corn feed. In the overnight electronic session, the March corn is currently trading at 551 ¼ which is 1 cent lower.


Over the past few weeks, the Rand has been surprisingly strong against major currencies, helped along by a return of US Dollar weakness. We’re seeing a clear wave of profit-taking on long equity exposure, while the US Dollar is back in demand across the board. This is similar to the 1970s when we came off the gold standard for the US dollar, which began its devaluation. It is a critical way to protect your portfolio from the devaluation of the US dollar.
Gold competes against the integrity of the US dollar as the world reserve Petrodollar. Investors are looking for an alternative to the US dollar and they are flooding into Bitcoin. Yen and Euro data were converted to USD based on the conversation rate as of 3Q2020. The Euro is a distant second at 20%.


Gold has been artificially depressed in price by central banks and hedge funds using the paper market to short gold futures. These corrections that we get in gold and silver, are contrary to the fundamentals and the overall sentiment of the market, which is extremely bullish long term. Unless the paper currency is backed by some kind of natural resource or precious metal like gold, then the same thing is going to happen over and over again. Bitcoin should probably be a small percentage of your assets, but I don’t think it will change the trust most people have in gold and silver.
The stock market is now at 30,000 plus and the gold market has been the victim of this paper manipulation. Debt is now more than 100% of GDP in many countries, which also makes gold and silver that much more desirable. At the Equity Management Academy, we believe far more in the long-term value of gold and silver, which have been assets for thousands of years. Any time we have had a monetary collapse or gone to a fiat currency, it has been disastrous and we have gone back to gold.
While the cryptocurrency hit fresh ATH >51k, Gold has dropped Source There seems to be some debate on whether there’s a bubble or not. The big question is whether gold will have a role in the future monetary system? No one knows how much gold China has. Inflation ran into double digits through into the 1980s and gold was at over $800oz and the Dow was at 1,000. The key is going to be who has the most gold.
China, Russia, and Iran have been purchasing record levels of gold. Looks as if #Bitcoin is eating #Gold. The 1,000-ounce silver bars, which are used for industrial uses, seem to be getting in short supply. Will we go to a gold-backed currency again?


After EIA’s report for last week’s build of 4.258 million barrels, we expect total gasoline stocks to build by 1.4 million barrels for the week of February 12th. The arbitrage opportunity is open on paper but two consecutive major builds in US gasoline inventories and increase in freight rates since last week will affect voyages. The crack spread, the difference between gasoline prices and crude oil, was up 5.13%, according to Robert Yawger, energy futures analyst at Mizuho Securities.
U.S. gasoline imports rose 20% this week compared with a week earlier, according to S&P Global Platts. Oil prices usually fall when refiners shut down unexpectedly—they are, after all, the only customer—but both U.S. crude supply and demand are being pinched. In the overnight electronic session, the March crude oil is currently trading at 6126 to 5951. Commodity prices are exploding, including grains, crude oil, and metals. On the Ethanol Oil front, the market is eerily quiet as the biofuels and new administration cozy up to have a plan they can work together with.
Mr. Yawger notes that European buyers have been purchasing crude oil to refine and export it to the U.S. as fast as they can.
The Gasoline Import Forecast of US West Coast stands at 80,000 bpd aboard two vessels for the week ending February 12th. On the Crude Oil front Pandora’s Box is open. For more details visit the page US East & West Coast Gasoline Import Forecast or copy and paste link in EIKON search box: amers1.apps.cp.extranet.thomsonreuters.biz/cms/?navid=942731478 Your comments are always welcome. On the Natural Gas front, the market most likely will be driven by the next or latest weather headline that will add volatility.
In the overnight electronic session, the March natural gas is currently trading at 3.113 which is .016 lower. Front-month gasoline futures hit their highest level since October 2018 on Wednesday.

United States

The company has shown again and again that it’s on the right track to counter online retailers, like Amazon (NASDAQ:AMZN), by successfully executing its e-commerce strategy. less The markets remain volatile this afternoon, as Wall Street continues to look beyond this morning’s for January. The Fed remains active, and monetary policy hasn‘t lost its charm (effect) just yet. But we‘re talking 2022, or even 2023 to get there – and the Fed will just let it overshoot to compensate for the current and prior era.
Some Fed presidents have raised the possibility of tapering bond buying later this year. ” 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. One of the best-performing stocks on the Nasdaq today is .