Spring Wheat was developing under good growing conditions and futures prices closed lower. New crop prospects appear solid for increased production in the coming year. There are ideas that the mills are well covered into new crop, but little Rice is available from producers.
Source: Bloomberg Spot Gold tagged $1870 intraday… I think the internal rate of return of 17% at that gold price is decent. Reid’s conclusion: “Gold is definitely a fiat money hedge” and not only that, but more importantly a transitionary asset to whatever monetary system is next. I’m not a fan of gold projects with an annual output of less than 100,000 ounces, but this one looks like a keeper. Royal Road’s Luna Roja project is at a very early stage but I think there’s good promise for extending gold mineralization at depth. less The commodity gold is nearing a major double top just shy of $2,000/ounce. Erdene released another batch of good drill results from its gold deposits in Mongolia and I think the bankable feasibility study for Bayan Khundii looks very promising. (Source: Royal Road Minerals) Hemco owns the Bonanza gold mine, which is located around 26km northwest of Luna Roja. If the company manages to find enough gold, I think the project could be combined with the Bonanza gold mine as it’s within trucking distance.
(Source: Erdene) The project consists of the Altan Nar, Bayan Khundii, and Zuun Mod deposits, which have combined measured and indicated resources of 839,000 ounces of gold. The key financials for the expansion of the mine look good and Island Gold is on track to become one of the top low-cost gold mines in the world. (Source: Alamos Gold) Alamos said that these drill results have extended high-grade gold mineralization in all three areas of focus.
So, we would take this week’s report in stride, but if demand continues to stall and US oil production returns, crude draws will be limited. Ultimately, I am bullish natural gas due to these reasons and I believe that the EIA’s analysis gives a very similar and objective confirmation point. BOIL is an ETF giving a 2x leveraged return of the main natural gas index provided by Bloomberg. The demand recovery has stalled as gasoline demand is plateauing, while higher COVID-19 cases in the US are tempering demand. During peak stay-at-home orders, distillate consumption was relatively less affected by COVID-19 mitigation efforts than gasoline or jet fuel consumption. To start this piece off, let’s take an objective technical look at the past few months of price action in natural gas futures. Higher COVID-19 cases could be tempering demand, and refinery throughput has turned lower.Implied US oil production has also recovered back to ~11.5 mb/d.
When studying natural gas, it is highly important to understand that an outright build or draw doesn’t really say much about inventories. Forward-looking indicators like normalizing gasoline storage and improving air travel could prompt higher refinery throughput, which would offer a tailwind on crude. From a relative perspective, natural gas has actually been somewhat boring or even frustrating to trade since April. A Reuters poll of analysts indicated that U.S. oil stocks likely fell by around 2 million barrels in the week ended July 17.
A Trump supporter sits in the upper rows of the BOK Centre in Tulsa, Oklahoma ahead of a campaign rally. But Mr Trump and some of his top lieutenants say using federal officers is necessary to prevent sometimes-violent protesters from destroying American cities and suburbs. Trump administration officials have yet to clearly explain under what federal authorities the law enforcement personnel are operating, other than to cite statutes allowing Washington to protect federal buildings. The powerful branch of the Justice Department has been investigating a list of things related to Mr Trump, which has reportedly angered the president. She said that Mr Trump’s re-election would be “the end of the American experiment” and that people continuing to support her uncle for another four years is “unthinkable.” “Fear-mongering, xenophobia, and racism are the unabashed tenets of Trump’s refugee and immigration policy,” the former vice president said in a statement.
Read the view America First mantra is here to stay President Donald Trump says election rival Joe Biden s $700 bln “Buy American” plan is policy plagiarism. One of the key questions being asked by market participants is how this might affect the next political strategy of President Trump. Mr Trump has tried to portray himself as the “law and order” president since the onset of the George Floyd protests. Meanwhile, the White House has , though on Tuesday Press Secretary Kayleigh McEnany said that President Trump is still in favor of the measures. The ad features side-by-side images, one portraying Donald Trump surrounded by law enforcement officials, and the other an officer lying on pavement and surrounded by protesters. Though she paints Mr Trump as something of a victim of his father, she said the president deserves no sympathy for his upbringing.