Markets recover overnight from Sunday opening losses. Equities, energies, metals, and commodities all opened lower/sharply lower Sunday night on China’s announcement of staying with its Covid policies, yet valuations recovered throughout the night. Rumors seem to abound that China is using it as propaganda to acquire raw materials that would otherwise be more expensive if…
Rumors of China loosening Covid restrictions sparks rallies. Grain futures moved higher overnight, as rumors out of China potentially reopening much sooner than anticipated created a flurry of buying, sending crude oil nearly $4.00 higher, pulling metals and the other host of commodities with it to the upside. This morning’s job data showed a build…
Risk-off across equities, metals, energies, and agriculture World stock, energy, metals, and commodity markets are all lower this morning on a sharply higher US dollar that has traded back to near 113.00. The Federal Reserve yesterday afternoon stayed with an aggressive stance on rate increases and did not give a hint that it would pause…
The Black Sea corridor is operational again. Good morning to another headline day, when at 5:00 a.m., the wheels came off the grain rally as Russia announced it would resume participation in the Black Sea export corridor. It’s reported that Russia’s Defense Ministry received a written guarantee from Ukraine stating the corridor would not be…
Brazil roadblocks and Putin comments influence night trading. Grain futures were mixed overnight, with wheat and corn moving lower on comments from Pres. Putin that the grain corridor was “suspended, not canceled.” This created confusion which immediately brought about selling despite crop ratings for the winter wheat crop at 28% GD/EX, below the 40% estimate….
Wheat futures lead price gains overnight. Grain futures moved higher overnight as expected but did not go limit bid on wheat, with corn and soybeans reflecting a higher move on the spread pull of wheat on protein values. Unlike February, the world has some experience right now with the war in the Black Sea, and…
Risk-off ends the week in commodities and equities. Grain futures drifted overnight as the US dollar firmed, causing further selling and risk-off in equities, energies, and metals. The September core PCI price index came in stronger than expected, with risk-off trading continuing in equities, metals, and energies. Harvest pressure continues to be noted as we…
