Daily Close | Forex, Metals, Oil, Agriculture October 20, 2020



Source: Goodfone The Teucrium Wheat Fund (WEAT) provides investors unleveraged direct exposure to wheat without the need for a futures account. In the wheat market, as a commodity market, the price is formed on the basis of the balance between supply and demand. The current wheat futures price is unprecedentedly high for the current season. Compare with what we have in the corn and soybean market: In recent years, the US share in the global wheat market has declined.
Therefore, in the long run, there is a relationship between the values of the stock-to-use ratio and the average price of the wheat futures. Wheat price traditionally correlates positively with corn price. According to the latest USDA data, the stock-to-use ratio for the global wheat market will exceed 42.5% in the current marketing year. It is also worth noting that this correlation has become stronger recently: At the same time, wheat is now relatively more expensive than corn.
For example, there is the long-term relationship between the Russian ruble and the price of wheat futures. These areas are trying to plant the next Winter Wheat crop but the dry weather and the dry soils are keeping farmers out of the fields. This is an important point – no shortage of wheat is expected in the world this season. Therefore, the decision to invest in this fund should be made after analyzing the wheat market. This means that either wheat is overvalued or has fundamental reasons to be so expensive.
All things being equal, wheat will have to in order to achieve a reasonable ratio. The US is showing a good rate of wheat exports this year. General Comments: Winter Wheat markets were higher again yesterday.


The chipmaker now expects 2020 sales to climb more than 30% in dollar terms, compared with a previous forecast of growth of more than 20%. There is a clear difference in performance between the ruble-denominated stock (dark blue line) and the US dollar-denominated ADRs (light blue line).


We have long held the view that silver in percentage terms will outperform gold in this precious metals bull market. On the 10th October 2020, The Silver Institute provided an interesting insight into the current demand for silver via silver-backed exchange-traded products (ETPs). The possibility that the sentiment surrounding gold and precious metals reverses lower with significantly lower market prices could pressure the demand for PCGS certification services.
Our initial target is 60:1, and so with gold currently trading at $1,906.00/Oz, this indicates that silver needs to trade at $31.70 before our target is met. Today, we will take a quick look at the data and try to ascertain where next for silver prices. Third quarter steel shipments of 2.7 million ton were 7% higher than the sequential second quarter shipments, and on par with prior year’s third quarter volume. Some of our peers are of the mind that this ratio could get down to 15:1, which, if it is achieved, would put silver at $127.00/Oz.
Should you be in an extravagant mood, the US Mint has increased their price for an ounce of silver to $67.00/Oz. Since then, silver has corrected to a more neutral position of around $24.00/oz. The firms asked include miner Coal India, power utility NTPC, minerals producer NMDC and Engineers India Ltd, said one of the government sources. gold-prices.biz makes no guarantee or warranty on the accuracy or completeness of the data provided.
What about gold?


Among others, this asset portfolio includes storage capacity of approximately 15 million barrels of refined products and 3,400 miles of pipelines of crude oil and refined products. Consequently, refiners have reduced their refinery utilization rates and thus they transport lower volumes of crude oil and refined products this year. In that quarter, most energy companies, including all the U.S. refiners, posted material losses due to the collapse in the demand for oil products.
Crude Value Insights offers you an investing service and community focused on oil and natural gas. There is no other oil company that is expected to avoid a decline in its earnings per share this year. Over 90% of operating income year-to-date has come from the regulated business, which is the largest stand-alone natural gas utility in New Jersey. Oil prices rallied to seven-week highs today (WTI above $41.50) on the back of hope-filled headlines about US stimulus talks (and nothing out of the OPEC+ discussions).
Overall, Holly Energy Partners proved one of the most defensive oil companies at the peak of the pandemic. Source: Company Materials As a natural gas utility, SJI earns the bulk of its profits during the quarters spanning the winter months (first and fourth). “Anything that helps the economy do better is going to be helpful for crude,” said Bill O’Grady, executive vice president at Confluence Investment Management in St. Louis. As Bloomberg notes, U.S. crude futures have struggled to make a sustained break above $40 as governments try to control new flareups of the virus.

United States

The US primary care market is worth $260 billion which is a fraction of the overall health care market; however, it can be a driver for broader cost savings. Of course, one can always easily find examples of comparably grandiose doomsaying among pro-Trump partisans scattered throughout the Right-wing media ecosystem. Kolanovic has a Ph.D. in theoretical physics and he’s famous for using alternative and quantitative data to predict the stock market’s ups and downs.
One option is to simply keep going back over and over again for a fix, even with Trump out of office. Much of Trump’s time is spent impotently fuming about the “radical Left”, and he repeatedly brought up the phrase during the depressing first “debate” with Joe Biden. Another thing that everyone agrees upon is that Trump supporters are far more enthusiastic about their candidate than Biden supporters are. Meanwhile, Congress and the Trump administration are deadlocked over a new stimulus bill that would include financial relief for tenants and landlords.
The stock has also been trading around 15% below the Nasdaq’s average multiple—a record discount for the shares, according to FactSet. I continue to believe that Berkshire’s size, coupled with the Fed’s refusal to let asset prices fall to distressed levels, removes much of the optionality in Berkshire’s cash hoard. Based on traditional forward-looking P/E (price to earnings) ratios, the US stock market can be considered overvalued.
To put these numbers in perspective, the US presidential race has witnessed ad spend nearly triple compared to 2016. Nexstar is one of the US Election winners. On 10/8/20, The Wall Street Journal reported a deal was near for AMD to buy XLNX in a deal valued at $30 billion. The Biden voter is five times as likely to talk to a pollster as the Trump voter. The US spends more on health care than any other country and costs continue to rise at a rapid rate. This is an act that, if done by anyone except the Fed, would lead to lengthy prison sentences.
Revisiting the used auto space, I found that Shift Technologies (NASDAQ:INSU) is likely the most compelling way to play this trend.
Online physicians can also do “digital health” check-ins and follow-ups in order to reduce the number of physical visits. In fact, Russian interest rates have always been much higher than those in the Eurozone or in the US. Trump’s downfall, should it arrive next month, will be explicable by a variety of factors, ineffectual and incoherent pandemic response paramount among them.


Immediately after last week’s incident, President Emmanuel Macron called for new plans to tighten social media controls on these platforms to mitigate the spread of hate videos online.