Daily Close | Forex, Metals, Oil, Agriculture January 29, 2021



Massive new corn sales in U.S. corn with 1.7 million tons of 2020/21 corn to China with 214,000 to unknown destinations. Traders are still wondering about the continuation of China demand after these recent sales, while corn and soybean acreage are becoming more of a hot topic. The corn backed off with plenty of strength and new highs in yesterday’s action. In the overnight electronic session, the March corn is currently trading at 543 which is 8 ½ cents higher.


AMC’s $1.5 billion notes due June 2026 have jumped more than 30 cents to 72.75 cents on the dollar, for a 20.521% yield.


Gold miners’ quarterly earnings and operating cash flows are naturally highly correlated with the amounts of gold they mined during that quarter. While individual gold miners’ output changes vary widely quarter-to-quarter, the GDX top 25’s total generally tends to track overall world gold production. The best constantly-updated ranked list of major gold miners comes from the GDX VanEck Vectors Gold Miners ETF. For years now, I’ve analyzed many dozens of gold miners’ latest quarterly results right after their earnings seasons wrap up.
They enjoyed some of the highest prevailing gold prices ever witnessed last quarter, which sure ought to fuel massive earnings growth. So how major gold miners as a sector performed last quarter won’t be fully apparent until around mid-March. The topic of silver manipulation, paper silver, and paper gold really is older than 20 years, and it’s been mostly the same argument over all those years. Normally gold miners’ earnings seasons where they report their latest financial and operational results run from about 3 to 6 weeks after quarter-ends.
less The major gold miners’ upcoming earnings season should prove amazing. But a handful of key variables considered together have proven excellent predictors of gold miners’ quarterly results. They are prevailing gold prices, overall world gold-mining production, and average all-in sustaining costs. These include the world’s biggest gold miners, together accounting for about 6/7ths of this ETF’s total weighting.
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. Generally, the higher the average gold prices, the greater the profits earned producing this metal. Average prevailing gold prices require no estimates, they are set in stone right after quarter-ends. Radomski is the author of Sunshine Profits’ Gold & Silver Trading Alerts and many of company’s investment tools.
Their earnings are overwhelmingly dependent on where gold is trading. Gold’s overall performance across Q4’20 was lackluster, it only edged up 0.6%. But despite falling 5.9% quarter-to-date by the end of November, gold still averaged a lofty $1,876 on close during Q4’20. less An update and review of gold.


In the overnight electronic session, the March crude oil is currently trading at 5257 which is 23 points higher.

United States

less Share Wall Street is in an uproar over GameStop shares this week, after members of Reddit’s popular WallStreetBets forum encouraged bets on the video game retailer. Share Wall Street is in an uproar over GameStop shares this week, after members of Reddit’s popular WallStreetBets forum encouraged bets on the video game retailer. Analysts hailed the deal as transformative, but noted the turnaround process could be complicated by UPS Freight’s heavily unionized workforce.
The deal includes a five-year agreement for the freight arm to continue using UPS s domestic package network to fulfill shipments. That headline result is well below what other manufacturers have reported in clinical trials and below the expectations of Wall Street analysts, who were generally hoping for 80% efficacy. “The Reddit-sparked frenzy in GameStop and other stocks, which has consumed Wall Street in recent days, delivers lessons for people on both sides of the trade, O’Leary contended.
So regulators grant more time for annual reports to be filed, 60 days after year-ends in the US and a whopping 90 days in Canada!
The Trump administration’s own agenda, including a travel ban against Muslim-majority countries, encountered frequent opposition from blue states. UPS Freight is separate from the company’s well-known parcel delivery operations and primarily handles business-to-business shipments. It was a marked departure from a day earlier, when the same investors were claiming victory over Wall Street. But we have a new tug of war between the suits at Wall Street hedge funds and Reddit/Robinhood traders.
UPS will take a $500 million writedown in connection with the deal. Share Photo: Micah Green/Bloomberg News By Charley Grant Close Jan. 29, 2021 11:25 am ET Wall Street has crowned its Covid-19 vaccine winners. Look for Wall Street to quickly shake off any lingering disappointment. 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. As old Wall Street.