Open: London Session | Forex, Metals, Oil, Agriculture April 21, 2021



As far back as January this year, BusinessLine had warned of an emerging wheat glut (see Is India heading towards a wheat glut?, January 7). Third successive year This is the third successive year of large wheat harvest, far beyond what the country needs in terms of actual consumption plus buffer stocks. New variety may lift wheat output to a record this yearIndian wheat is currently outpriced in the export market. The London-based International Grains Council has projected global wheat production for 2021-22 at a record 790 million tonnes (last year 773 mt).
As of April 1, the government was holding 27 million tonnes (mt) of wheat stocks, over three times the minimum stock norm. Advance signalsAwash with wheat, the world market is not ready for the Indian cereal. But quality issues may continue to haunt Indian wheat. To be sure, the current wheat glut was not unexpected at all. The risk of a collapse in wheat prices cannot be ruled out.


31, it held 661 bars of gold, 506 bars of palladium, 264 bars of platinum and 10,015 bars of silver. As price moves in gold and silver have shown in recent months, precious metals tend to be volatile, and their prices zigzag. At the time, gold spot price was around $1,000. Now, gold is trading around $1,770.


Such is also the case in the US, where drivers consume over 10 per cent of the world’s oil,” ANZ analysts said in a note.

United States

The Fed thinks the inflation we will almost certainly experience this year will be fleeting. He has been quoted in a variety of financial news publications, such as CNBC, the Wall Street Journal, and the New York Post. The key word in Fed communications of late, which is likely to be repeated at next week s Federal Open Market Committee meeting, is transitory. Doug is accredited by the … more Doug began his career on Wall Street in 1992 at Dean Witter.
He has been featured in such notable publications as the Wall Street Journal, New York Times, USA Today, Investment Advisor, Fortune, and The St. Petersburg Times. Doug began his career on Wall Street in 1992 at Dean Witter.


A shock poll result for Merkel’s party, J&J’s vaccine shipments restart and Europe’s breakaway soccer league may be short-lived. The new rules, set to be unveiled today, are an attempt by the EU to replicate its global privacy regulation footprint this time by governing AI. The Forsa poll released by broadcaster RTL last night showed Merkel and Laschet’s CDU party slump 7 points to 21%, while the Greens gained 5 points to 28%. Like with the GDPR though, the EU appears destined for months of wrangling over the rules before they become law.