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Abstract

ending at 102.40 points today.UK’s inflation rate was 8.7% in May, the highest number in major countries. UK need to raise the rate this time but what about others then?Japanese Yen was downed by 0.8%, Australian Dollar was downed by 0.6% and British Pound was downed by 0.2% against US Dollar today.<figure id="0a45"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*8VtWpBPEj5UiazrW6x8Xsg.png"><figcaption></figcaption></figure>Crude oil prices were collapsed today. NYMEX Brent oil prices were downed by 3.9% ending at $74.14 per barrel.Strong US dollar and technical over bought positions were main reasons but the weak fundamentals are still on the base as is. Simply saying, there are not enough demand to raise the oil price up to all the way to$ 90 levels.Still, Chinese are holding a key and actually Chinese refineries have ordered a lot of shipments recently. But, it’s doubtful those orders are for Chinese demands only.Other Industrial commodities such as copper, are in similar status quo. Iran and Russia are busy to sell their products in cheap price.<figure id="e709"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*OlvHwWpIBrdvPlv5zxSLyw.png"><figcaption></figcaption></figure>In the agricultural markets, TECHNICALLY OVER BOUGHT situation and updated weather forecast have changed whole picture again. Corn and Soybean markets were downed big but failed to break recent lows technically.Russians are keep shouting “NO MORE EXTENTION” but they’ve been like that for an year now.Updated weather forecast are saying that “WILL BE MORE RAIN OVER THE WEEKEND” but U

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SDA’s drought monitor is showing that drought areas were expanded more than 5% in US MIDWEST.<figure id="dc09"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*lzzR30a596xtESWJIlvLJg.png"><figcaption>JUN 23~JUN 28, US WEATHER FORECAST</figcaption></figure>Don’t forget, we’re in the middle of the weather market. One drop of rain could make the market limit down or limit up which no one really knows why… That’s what we call the weather market.Let’s count some factors of the day.CHICAGO SOYBEAN MARKET was downed by 2.7%, more than giving back the last session’s gains. SH23 was downed by 3.6% as weather models has been changed to wetter mode.WEEKLY USDA DROUGHT Monitor showed the extent of the expanding dryness, and the importance of the rainfall verifying, with 83.0% of Iowa rated as being in drought, up by 15.4 points week on week, and the state’s worst June reading this century. In Illinois the figure rose by 17 points week on week to 82%, with the figure for the Midwest as a whole up by nearly 10 points to 58.5%.Because of disappointing US BIODIESEL MANDATE, SOYBEAN OIL MARKETS are being crushed and SOYBEAN CRUSHING MARGIN was downed by 27%.CHICAGO SOYBEAN OIL MARKET fell 2.1%, selling encouraged by a 3.6% tumble in Brent crude back below $75 per barrel.PARIS RAPESEED MARKET was downed by 3.7%. Weekly basis, price fell by 6.0%.CHICAGO CORN MARKET weighed on corn, fell by 1.8%.WHEAT MARKET made small gains on both sides of the Atlantic, to set fresh near-four-month highs in CHICAGO WHEAT MARKET, and two-month highs in LONDON & PARIS WHEAT MARKET.</article></body>

JUN 22. So… President Xi is a dictatior?

Bank of England, Swiss National Bank have raised their prime rate to control the inflation. Bank of England, surprisingly raised up 0.5% to reach the 5.0% this time, their 13th straight raise in a row.

Mr. Powell did mention again today to the US Congress, FED will raise the rate.

Japan and China are those two big countries, either lowering the rate or staying the rate.

Currency controlling could be the hot issue of the world economy for the second half of the year. There would be more and bigger gaps of the interest rate between countries.

International wealth will be moving around, chasing the margins. That could be the reason why Mr. Powell is keep saying “ US need to raise the rate “

US stock market was up today with some technical buy back mainly.

DJ Index was up 0.03%, S&P 500 Index was up 0.3% and NASDAQ index was up 0.7% today. But the market closely watching how FED would prepare the next month for the rate. BOE’s surprising rate hike added the weight on FED now.

Apple was up 1.7%, Amazon was up 4.3%, MS was up 1.0% and Tesla was up by 2.0%.

US Dollar Index was up today, 0.4% was up ending at 102.40 points today.

UK’s inflation rate was 8.7% in May, the highest number in major countries. UK need to raise the rate this time but what about others then?

Japanese Yen was downed by 0.8%, Australian Dollar was downed by 0.6% and British Pound was downed by 0.2% against US Dollar today.

Crude oil prices were collapsed today. NYMEX Brent oil prices were downed by 3.9% ending at $74.14 per barrel.

Strong US dollar and technical over bought positions were main reasons but the weak fundamentals are still on the base as is. Simply saying, there are not enough demand to raise the oil price up to all the way to $90 levels.

Still, Chinese are holding a key and actually Chinese refineries have ordered a lot of shipments recently. But, it’s doubtful those orders are for Chinese demands only.

Other Industrial commodities such as copper, are in similar status quo. Iran and Russia are busy to sell their products in cheap price.

In the agricultural markets, TECHNICALLY OVER BOUGHT situation and updated weather forecast have changed whole picture again. Corn and Soybean markets were downed big but failed to break recent lows technically.

Russians are keep shouting “NO MORE EXTENTION” but they’ve been like that for an year now.

Updated weather forecast are saying that “WILL BE MORE RAIN OVER THE WEEKEND” but USDA’s drought monitor is showing that drought areas were expanded more than 5% in US MIDWEST.

Don’t forget, we’re in the middle of the weather market. One drop of rain could make the market limit down or limit up which no one really knows why… That’s what we call the weather market.

Let’s count some factors of the day.

CHICAGO SOYBEAN MARKET was downed by 2.7%, more than giving back the last session’s gains. SH23 was downed by 3.6% as weather models has been changed to wetter mode.

WEEKLY USDA DROUGHT Monitor showed the extent of the expanding dryness, and the importance of the rainfall verifying, with 83.0% of Iowa rated as being in drought, up by 15.4 points week on week, and the state’s worst June reading this century. In Illinois the figure rose by 17 points week on week to 82%, with the figure for the Midwest as a whole up by nearly 10 points to 58.5%.

Because of disappointing US BIODIESEL MANDATE, SOYBEAN OIL MARKETS are being crushed and SOYBEAN CRUSHING MARGIN was downed by 27%.

CHICAGO SOYBEAN OIL MARKET fell 2.1%, selling encouraged by a 3.6% tumble in Brent crude back below $75 per barrel.

PARIS RAPESEED MARKET was downed by 3.7%. Weekly basis, price fell by 6.0%.

CHICAGO CORN MARKET weighed on corn, fell by 1.8%.

WHEAT MARKET made small gains on both sides of the Atlantic, to set fresh near-four-month highs in CHICAGO WHEAT MARKET, and two-month highs in LONDON & PARIS WHEAT MARKET.