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



Traders are also watching with high corn prices that could transfer more buying to animal feed from wheat. South Korea’s Feed Leaders Committee (FLC) purchased 60,000 tons of animal feed wheat expected to be sourced from the Black Sea region in a private deal. In the overnight electronic session, the July corn is currently trading at 725 which is 7 ¼ cents lower. Chinese importers bought 1.36 million tons of U.S. corn on Friday according to the USDA.


Listed Oil Services 25 Index, which offers exposure to companies involved in oil services to the upstream oil sector, including oil equipment, oil services or oil drilling. Gasoline cracks—or the difference between the price of crude oil and the price of gasoline—touched multiyear highs in recent weeks, according to a recent report from BofA Global Research. This is really not much different, Liam Denning writes in a second column: Your parents Arab oil embargo is Gen Z s pipeline hack.
That is because refiners typically have some crude oil and refined product inventory on hand. Just as Americans gear up for summer travel, U.S. retail gasoline prices are already around the highest they have been in three years, according to data from GasBuddy. It distributes natural gas to 1.6 million customers in Ohio, Kentucky, Tennessee and the Carolinas.

United States

We also noted that the Fed seemed to be overlooking that even in backwardation, the futures markets are often anticipating significantly higher commodity prices over last year. DraftKings reported 1.5 million monthly unique paying customers, beating Wall Street expectations of 1.3 million. While inflationary pressures sparked concern over lofty valuations, pushing the tech-heavy Nasdaq Composite down, the stronger-than-expected corporate profits fueled the Dow Jones and the S&P 500 to new highs.
Higher inflationary expectations and/or a pause by the Fed are viewed as potential threats by tech investors. At similar situation exists in the US where a combination of restrictive lending requirements and an escalation in consumer deposits pushed the US deposit-to-loan ratio to a 36-year high. But if the problem is supply and not demand, then that will significantly change how the Fed reacts, Mohamed writes. Hal Brands Wall Street seems to have the right idea about remote work in banking; it may be impossible to maintain.
He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. A labor supply problem would challenge the Fed. Image: Bigstock Wall Street had a volatile ride last week. The Nasdaq shed 1.5% last week. Yet the NASDAQ 100 Index (NDX) is over 1.5% lower, giving back all its Friday gains and then some. Further ReadingIn defenestrating Liz Cheney, the GOP will surrender to Donald Trump s insanity.