Open: New York Session | Forex, Metals, Oil, Agriculture March 30, 2021

Chicago corn and soybean prices have remained relatively stagnant in recent weeks compared against the steep rally in the last few months of 2020. MARKET NEWS Chicago corn futures lost more ground while soybeans slid for a fourth consecutive session, with expectations of higher U.S. plantings this year weighing on the markets. Corn prices have already climbed about 50% over the past six months, lifted by increased demand from China. About 40% of the U.S. corn crop goes to producing the gasoline additive, and consumption has plunged amid the pandemic.
3 corn exporter and top supplier of soymeal livestock feed, used to fatten hogs and poultry from Europe to Southeast Asia. COLUMN-Is the market on the right track for U.S. corn, soy plantings? The most-active corn contract trading on the Chicago Board of Trade closed Monday at nearly $5.47 a bushel. On Feb. 9, corn topped $5.74 a bushel—its highest intraday level since July 2013. Ivory Coast, the world s top cocoa producer, is entering its rainy season, which runs from April to mid-November.
Over two decades ago Jay got his start at the Kansas City Board of Trade in the Wheat Futures pit.

A stronger-than-expected dollar and rising bond rates have also dragged bullion down from its record high in August last year. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.01 per cent to 92.94. The dollar gained on U.S. recovery bets, while gold prices slid. Except for today’s depreciation, the INR has remained quite steady even though the Dollar Index rose. “The US dollar was flat against the basket of currencies in Asian trade.
After all, the US dollar, under the care and watchkeeping of the Federal Reserve Bank of the United States, has lost more than ninety-eight percent of its purchasing power. The U.S. dollar gained on U.S. recovery bets. less Technical indicators of the currency pair: On Monday, the euro completely leveled the entire Friday growth. The U.S. dollar held steady. That doesn’t stop the dollar bashing, of course.

Silver, gold, and other hard assets also stand to benefit from the broader rise inflationary pressures likely to accompany Washington’s spending spree. BEFORE THE BELL Futures for Canada’s main stock index fell, weighed by a weakness in gold prices, while oil prices declined as the Suez Canal reopened to traffic. On Monday GFG said those negotiations were ongoing and also said that Liberty Steel was still seeking support from the UK government. Gold prices for the latest contract on MCX are trading up by 1.4% at Rs 44,178 per 10 grams.
The company, one of China’s biggest copper producers, said in a filing that net income slipped 5.9% year-on-year to 2.32 billion yuan ($353.6 million) in 2020. Copper prices rose as investors were expecting strong demand from top consumer China ahead of the seasonally strong consumption season. Gold prices are trading up by 0.7% at Rs 43,850 per 10 grams. S&P 500 futures pointed to almost no change at the open, oil was slightly lower as traders awaited the latest OPEC meeting, and gold was under $1,700 an ounce.
He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free. In addition to gold, he writes articles about inflation, interest rates, and the Federal Reserve.

The new Murban crude oil futures started trading on Monday at the ICE Futures Abu Dhabi exchange (IFAD) which is backed by ICE, ADNOC and other major oil players. Meanwhile, oil supplies swelled as Iran ramped up exports to China in defiance of U.S. sanctions.Within a week of hitting a one-year high, oil futures surrendered almost $10. With oil prices making steady gains earlier this year, OPEC and allies, known as OPEC+, had hoped to ease output cuts. The rest of OPEC+ “will hold production steady in May, given current physical oil market weakness.”An increase from the wider 23-nation coalition is more likely later in the year.
Brent crude futures, the global oil benchmark, rose 0.11 per cent to $65.05 per barrel.
The crisis-stricken OPEC nation’s crude exports have plummeted since the United States slapped sanctions on state oil company Petroleos de Venezuela in January 2019. The recent swings of the past week highlight that the oil market is still extremely vulnerable to both bullish and bearish stimulus. April volumes are likely to weigh in steady/lower from March as key price benchmarks like the East-West and Gasoil-Fuel oil spreads remained largely rangebound this month.
In a bid to ensure tradeability of cargoes, ADNOC had earlier removed destination restrictions on crude oil exports. Kinder Morgan to Expand CO2 Business in Clean Energy Push The pipeline giant joins the ranks of major oil and gas companies capitalizing on clean energy investing.

But that’s a different question altogether than whether it’s artificial.A related thing you often hear is that the Fed may, from time to time, attempt to suppress interest rates. However, the downside could be capped amid a spike in treasury yields, as accelerating vaccinations and massive stimulus in the US stoked inflation concerns,” the Reliance Securities note said. But the Fed can’t suppress rates either because that implies that there’s some natural level rates would otherwise go to.
BEFORE THE BELL Nasdaq futures were down as a rise in treasury bond yields hit technology related stocks. Nasdaq futures were down as a rise in treasury bond yields hit technology related stocks. less The Nasdaq 100 (NDX) initially fell during the trading session on Monday, as a lot of traders continue to buy dips going forward. The decline in benchmark Treasury yields this week is in sync with the Fed’s decision to maintain its dovish monetary policies at least over the near term.
Positive expectations for the US labor market and negative sentiment in Europe due to new quarantine measures put pressure on the pair. Also when the US 10 Year bond yields has spiked sharply India’s 10 Year Bond Yield has remained quite stable. So, will the Federal Reserve help out the US Government by keeping interest rates ultra-low for the foreseeable future?

Since the introduction in the EU of a monetary union (around 1995), Italy has been suffering the worst period with several consecutive economic falls. ECB governor warns against sharp policy tilt when crisis passes. It will be similar to the degrading economic status of France in the EU after the Monetary Union was introduced but on the global scale. In this blog, I recommended France and Italy to leave the EU as Germany squeezes them as a piton. In this blog, I recommended France, Italy, and Spain to leave the EU as Germany squeezes them as a piton.
Since Jan. 1, the European Commission’s data has covered the EU’s 27 countries only, whereas previous figures up to Dec. 31 covered both the EU-27 and Britain. at each other for handing mitigating measures and French President Emmanuel Macron is also under fire for not acting on time. His feature articles have been published on: FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc.