Daily Close | Forex, Metals, Oil, Agriculture February 23, 2021



Looking at export sales on the books at this point, corn is now at 89% of the total USDA estimate for the year. In the overnight electronic session, the March corn is currently trading at 555 which is 4 cents higher.


Its dollar-based net expansion rate was 112%.


The recent gold import duty cut and the strengthening economy has India’s “titans of ton” in a very positive frame of mind, and now gold demand is rising fast. Gold moved higher yesterday (Feb. 22) and so did the rest of the precious metals sector. The last time gold moved above the declining short-term resistance line, was when it actually topped. Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools.
A breakout above the neckline at $1966 would likely see gold surge to $2089… and higher. Figure 2 Indeed, after moving slightly above yesterday’s intraday high in today’s overnight trading, silver moved back down. Back then, practically nobody wanted to believe that silver and the precious metals market was topping at that time. The sentiment of gold investors with weak hands is at “gulag” levels, but nothing has changed fundamentally. For investors who find summers too hot and winters too cold, silver could be the ideal investment.
Figure 3 The move higher in gold was notable, but nothing game-changing. In America, the fear trade dominates gold. It has less sizzle than bitcoin, but more than gold. Namely, silver is going through a triangle-vertex-based reversal at the moment.


On the Ethanol front, the EPA changes stand, sides with the ethanol industry over biofuels waivers granted to oil refineries under President Donald J. Trump’s administration. OPEC’s top producer and de facto leader Saudi Arabia would likely prefer the March 3-4 meetings to decide that the OPEC+ coalition holds production flat in April, Bloomberg reports. It is still very clear in everyone related to oil how devastating of a blow in March and we got back in balance.
In the overnight electronic session, the April crude oil is currently trading at 6206 which is 36 points higher. On the Crude Oil front, we have the APIs tonight.

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 market is getting concerned that the Fed is risking getting behind the curve on inflation. So after a couple of years of lagging, is it likely that the US government is going to stop increasing its defense capabilities? Growing anxiety over higher interest rates has pushed many on Wall Street to take profits on February’s impressive rally.
less Warren Buffett is attributed as saying “Wall Street makes its money on activity, you make your money on inactivity.” 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.
On February 8, the Fed noted Monetary Policy Will Stay Accommodative For a Very Long Time. The best performing stock on the Nasdaq today is packaging producer . Fed Chair Jerome Powell’s comments before Congress did little to assuage investor anxiety. My question on February 14 still stands: How Long Before the Fed Tries to Manipulate Long-Term Rates Lower? CDC data suggests that over 13% of the US population has already been vaccinated. Unheard of in the days when all Wall Street could say was “Buy”.