Open: London Session | Forex, Metals, Oil, Agriculture October 06, 2020

That included 8.7 million tonnes of wheat – around 50% of the volume permitted for exports this season – 2.9 million tonnes of barley, and 678,000 tonnes of corn. Russian wheat prices rise with global benchmarks -IKAR Russian wheat export prices rose last week in response to higher Chicago prices, the IKAR consultancy said on Monday. For the EU’s 27 member countries, the European Commission’s official forecast is for 2020/21 maize (corn) imports of 19 million tonnes against 18.4 million last season.
The U.S. corn crop was 25% harvested, the USDA said, just ahead of the five-year average of 24% but behind the average analyst estimate of 26%. Soft wheat exports to destinations outside the EU totalled 166,000 tonnes in September, the third month of the 2020/21 season, the Refinitiv loading data showed. MARKET NEWS Chicago soybean futures ticked higher for a second session, with strong demand underpinning prices, although gains were capped on rapidly progressing U.S. harvest.
But they believe the expected dry and warm week ahead will accelerate activity over the next several days, especially for soybeans. Raw sugar futures on ICE closed up on Monday on signs supplies will tighten and an upbeat sentiment in wider financial markets, while arabica coffee headed lower again. Gorgeous to watch, it s the cinematic equivalent of drinking a cup of hot cocoa.

In the month before the last three votes, the S&P 500 Index fell, while the dollar rose as investors rushed to haven assets amid a decline in risk appetite. In dollar terms: each new banknote is worth about 23 cents, courtesy of the raging hyperinflation that has been sweeping the nation for the past 6 years. Nineteen of the 30 strategists said they are increasing their cash holdings, including the U.S. dollar and Japanese yen. The Taiwan dollar extended its winning streak, a day after it closed at the strongest level since 2011.
The dollar remained under pressure and Treasuries steadied.Stocks saw modest gains in Japan, South Korea and Hong Kong. The US dollar has weakened further and is teasing near pivotal levels. Balkan Bucks | The Commission plans today to announce a multibillion-euro investment package for western Balkan states seeking to join the EU, focusing on energy, transport and digital infrastructure. However, it’s worth paying attention to Covid developments/lockdowns and their impact on the euro banks’ credit quality.
Coming Up Euro Stoxx futures are pointing to a modestly positive open.

“There’s a heightened interest in gold, particularly from generalist funds, and you’re starting to see some of that money coming into the market,” Biswas said. The shipyard is even looking to up its volume of dismantled steel from 700,000 tonnes in January to 1.1 million tonnes by the end of the year. Read: Some Wishes Come True for Active Funds in Weekly Nasdaq Shakeout“Despite the weak performance in 3Q, the rotation in September showed a silver-lining for active managers,” she said.
Gold was steady at $1,912 an ounce. Maduro’s gold. He previously ran Rio’s Pacific Aluminium unit.

The industry responded with similar discounts during previous slowdowns such as the 2014-2015 downturn, said Jon Sudduth, senior North American crude analyst at Energy Aspects in Houston.

Believe it or not, a 50% stock market crash would still place Wall Street’s valuation vs. GDP in an abnormally rich zone! One of the guiding lights of Fed policy over the years has been the so-called Neutral Rate of Interest or R*. Should inflation rise because of the Fed’s dovish stance and increased stimulus, the greenback will suffer as real yields drop and shares may advance. We identify several risk events like the US elections, Brexit, Covid lockdown measures, while speculative players are already aggressively positioned for higher rates.
That improvement also caused Wall Street to rally sharply overnight with energy, tech and healthcare stocks leading.
“It is becoming harder to deny the need for additional fiscal support.”Trump left Walter Reed hospital Monday evening after being treated since Friday for Covid-19. The S&P, NASDAQ, and Russell 2000 were all up today as risk-on sentiment takes hold of the market, Ed Harrison told Real Vision during today’s Daily Briefing. People around President Trump were prosecuted and/or had their lives destroyed based on a scheme of U.S. government lies.
Taiwan also will find more support from the U.S. under Trump — this is China’s red line, and Trump knows when to push this button. In a video released shortly afterward, Trump said the vaccines are coming momentarily.

Popular sites from the Forbidden City in Beijing to the Mogao Grottoes in Gansu province were fully booked before the holiday started. Tibet, Xinjiang and Ningxia were among regions where spending rose fastest on Oct. 1 and 2, based on China Unionpay data reported in Xinhua. LEARN MORE 1:21 Share Tweet Post Email 6:06 Share Tweet Post Email Visitors walk along the Badaling section of the Great Wall in Beijing, Oct. 1.

This kind of excess liquidity will continue to rise at a steady pace due to the ECB’s asset purchases if the ECB does not hike the tiering multiplier. Finance ministers will confirm the pick today, which will likely come with a second role as the vice-chair of the ECB s banking supervision arm. A draft of the summit’s conclusions shows that EU leaders won t yet endorse a proposed stricter emissions target for 2030. The EU must know that Afkari, like many other political prisoners and those who participated in previous peaceful protests, was brutally tortured.
A toothless EU is worth a lot of money for those trying to skirt its rules. The German presidency of the EU has circulated a compromise proposal to be discussed this week, and we have the draft. Assuming no changes in the wording, the next chance for the EU to up its climate game is December s summit. However, with the looming Brexit, this may no longer be the case moving forward. We also publish the Brexit Bulletin, a daily briefing on the latest on the U.K. s departure from the EU.
Now even the 6-month fixing is about to test the ECB DFR.