|Day's Range||290.80 - 293.50|
Posted by OFX USD - United States Dollar The U.S. dollar index, which has the top 6 major currencies in its basket including the Euro, is increased 0.33 percent this morning. The reason? Higher inflation numbers, which might boost consumer price index numbers, which will be released tomorrow. At least that is … Continue reading "The U.S. dollar resumes its uptrend after higher than expected producer prices"The post The U.S. dollar resumes its uptrend after higher than expected producer prices appeared first on .
Natural gas prices eased after breaking out on Thursday, as the storms in the Atlantic continued to threaten. The fallout from Hurricane Dorian is devastating but the issues will not affect natural gas prices. Natural gas inventories grew more than expected, according to the Energy Information Administration (EIA).
Silver continues to be marked by strong volatility, as the metal has posted sharp losses in Thursday trade. XAG/USD started the day at 19.53, after strong gains over the previous two days. However, the pair retraced and is down 2.82% in the North American session. The pair is back below the symbolic 19.00 level.
States have a history of banning indigenous people from managing preserved land. If we really want to save our forests, governments have to give it back.
Brazilian ethanol has proved a mixed blessing for struggling American corn growers and the carriers who own the trains, ships and trucks that carry their product this year. The good news is that almost all the ethanol needed in Brazil (beyond its own production) is imported from the United States. According to the Brazil Biofuels report from the U.S. Department of Agriculture's (USDA) Foreign Agricultural Service, which was released on August 9, Brazil will import around 1.2 billion liters of ethanol this year.
Despite the conciliatory tone, the market is reluctant to believe in everything China and the United States said, as it seems they want to have a prolonged trade war. Farmers, then, are suffering the consequences.
When President Donald Trump levied tariffs on China that scrambled global markets, farmer Randy Miller was willing to absorb the financial hit. Even as the soybeans in his fields about an hour south of Des Moines became less valuable, Miller saw long-term promise in Trump’s efforts to rebalance America’s trade relationship with Beijing.
Canadian farmers expect to harvest the smallest canola crop in 4 years due to reduced plantings, according to a government report released on Wednesday amid a diplomatic dispute between Canada and China, the top importer of the crop. The spat, centered on the arrest of a Chinese executive in Canada and China's subsequent arrest of two Canadians, has curbed canola export sales since early this year and weakened prices just as farmers were deciding what to plant this spring. Dry conditions threatened crops earlier, but timely rains in June and July boosted crop prospects, Statistics Canada said in its first production forecast.
Natural gas markets have found plenty of sellers just above, as we have ran into a significant amount of resistance. At this point, we are still very much in a downtrend so it’s likely that we are going to continue that going into the future.
Metals are trading positive on Tuesday as investors are digesting economic data in Germany and the news about the trade war between the US and China. Besides, a cheaper dollar is making holding in gold more attractive.
The next move in gold will be determined by whether China confirms or denies that the trade talks are back on. Today’s light trade and inactivity suggests traders are not betting heavily on either direction.
Technical conditions suggest a potential bullish outbreak with the 8.60 area as a buying zone. MACD seems to be ready to go above the zero line with the faster line going above the slower one. Also, the 8.60 level looks like strong short term support.
(Bloomberg) -- China’s escalating trade war with the U.S. as well as an upcoming autumn festival are stoking the Asian country’s appetite for a certain golden oil.The world’s top commodity importer almost tripled palm oil imports from Malaysia during the first 25 days of this month as deepening trade tensions with the U.S. lower supplies of soybean oil, sending buyers hunting for an alternative. That’s just as consumption increases ahead of the Mid-Autumn festival, celebrated on Sept. 13 this year, where palm is a key ingredient in fried foods and seasonal treats such as mooncakes.Palm oil shipments from Malaysia, the world’s second-biggest producer, to China surged 177% from a month earlier to 265,045 tons between Aug. 1-25, according to cargo surveyor Intertek Testing Services. China may import a record 6.7 million tons of the world’s most-consumed cooking oil in the year from October, according to the China National Grain and Oils Information Center, as the trade war and the spread of African swine fever curtail supplies of soybeans, leading to lower output in soyoil.“Soybean oil inventories have dropped in China so they must be having an edible oil shortage,” said Sathia Varqa, owner of Palm Oil Analytics in Singapore.“There’s no where to turn except to the golden oil palm.”A jump in exports could further support benchmark palm oil prices in Malaysia, which climbed to a six-month high on Monday on expectations of a boost in demand. Still, Varqa warns that a further price rally risks eroding China’s appetite for the Malaysian product.“Indonesia has a bigger market share and is cheaper, so it may still dominate China’s demand,” Varqa said.To contact the reporter on this story: Anuradha Raghu in Kuala Lumpur at firstname.lastname@example.orgTo contact the editors responsible for this story: Anna Kitanaka at email@example.com, Atul PrakashFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
MUMBAI/NEW DELHI (Reuters) - India plans to impose an extra 5% tax on vegetable oil imports within weeks and use the revenue to help boost the country's stagnating oilseed production, two government sources said. India is the world's biggest importer of vegetable oils, buying nearly $10 billion worth a year, its biggest import after crude oil and gold. The country's consumption of vegetable oils - including palm oil and soyoil - has trebled over the last 20 years as the population grew and incomes rose, while output has increased by less than a third.
Natural gas markets went back and forth during the trading session on Friday as we continue to try to find either our footing, or some type of breakdown. At this point, it’s likely that we continue to see volatility.
The Australian dollar continues to show a bit of weakness, as the US/China trade situation does not seem to be getting any better. If that’s going to be the case, then there’s no reason to think that the Australian dollar will be able to pick it up.
Oil prices fell on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods including crude oil, another escalation of a protracted trade dispute between the world's two largest economies. U.S. West Texas Intermediate (WTI) crude futures fell $1.18, or 2.1%, to settle at $54.17 a barrel. China's commerce ministry said it would impose additional tariffs of 5% or 10% on a total of 5,078 products originating from the United States, including crude oil, agricultural products such as soybeans, and small aircraft.
Participants on a crop tour this week are attempting to assess the development and health of corn and soybeans in hundreds of fields across the Farm Belt after a rainy spring.
The administration just issued a shocking decision to the corn and ethanol industries, approving a large number of refinery waivers for ethanol usage
Despite there are still concerns about the health of the farm season, improved weather and fewer supply concerns are pushing prices down. Besides, the USDA export sales report showed improvement in the market around the world.
You may have noticed that CBD—the non-intoxicating cannabis-derived chemical compound—can now be found in drugstores, cafés, pet stores, bars, spas, and all over the internet. Farmers have also noticed, and are planting hemp to supply the rapidly expanding industry. According to new data from the US Department of Agriculture (USDA), US farmers more than quadrupled the land planted with hemp in the past year, from 27,424 acres in August 2018 to 128,320 acres today.