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1958

Abstract

:800/1*nk3qRcktIlGRsAI6xuMGZw.png"><figcaption></figcaption></figure>US dollar index was downed big today, fell 1.5%, ending at 104.09 points today. It was the largest single day percentage fell since November 11, 2022. 10-year US T-note yield was downed below 4.5% today. Euro was up 1.7%, pound was up 1.8% with others at similar percentages against US dollar.Except Japanese Yen, JPY was up only 0.9% and ended at 150.23 yen/dollar today. Japan could be America’s second cash deposit box, regardless of what Japanese people suffer. Well, let’s see but other than this, no one can explain why Japanese Yen is doing with US dollar now.Gold was up 0.9% ending at $1,962.44 per Oz today.<figure id="d12c"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*Yu1UnO2jT-vQO6xZXd5Y9g.png"><figcaption></figcaption></figure>Crude oil price was downed a bit, not much moved at all. US dollar collapsed today but NYMEX Brent oil price fell 0.1%, ending at$ 82.45 per barrel. It seems like Israelis are having a kind of trouble with advancing deeper into Gaza now.So, what are they going to do now? Now days, even ultraright wing players are in quiet mode about Israeli incidents. That’s becoming the bear factor for the oil market. Uncertainties of the future demand is becoming another big bear factor now.That’s the reason why funds are adding more short positions these days.<figure id="bd1e"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*18nUnq0B860SybPUbm-UUg.png"><figcaption></figcaption></figure>In the agricultural market today, bullish tone has continued but much weakened tone. Still, weather forecast of the Brazil is the main factor of the market and it shows some sign of changing today. But, still, forecast is the forecast only. Funds are adding more LONGS in oilseeds sections. That’s the biggest wor

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ries of the day.Let’s see some details.CHICAGO SOYBEANS & MEAL MARKETS extended its rallies today. CHICAGO SOYBEAN price was up 0.5%, CHICAGO SOYBEAN MEAL price was up 1.0%. CHICAGO SOYBEAN OIL price was sharply up today with reclaiming ratio with MEAL/OIL price. CHICAGO SOYBEAN OIL price was up 2.4%. OPEN INTEREST of SOYBEAN MEAL was up to over 13K LOTS as NEW LONGS added, and SOYBEAN’s OPEN INTEREST was up 3K LOTS as well. Interior SOYBEAN BASIS finally shows some SOFTER tone today with increasing farmer selling, and STRONG FUTURES PRICE but down in SOUTH AMERICA, still farmers are holding their stocks. US SOYBEAN HARVEST is about 95% done vs 91% in average. MALAYSIAN PALM OIL MARKET was up 2.7% with follow through rally of SOYBEAN OIL. WEATHER FORECAST of BRAZIL changed a bit with some possible rains early next week on CENTRAL BRAZIL, but SOUTHERN BRAZIL remains quite wet, still. PARIS RAPESEED MARKET was up 0.7% as well. Germany’s new crop rapeseed planting might decrease for 2024 crops by 4~7% due to the excessive rains. It could be another BULLISH FACTOR for the oilseed market.CHICAGO CORN MARKET was up again by 0.2% today. Consolidated at the beginning but recovered fast to the end. US CORN HARVEST is about 88% done vs 86% average. US FARMERS are still not selling a lot of CASH CORN to the market. They think CORN PRICE is still too low, farmers are targeting around $5/bu level. Still, players are focusing more on BRAZILIAN WEATHER for its SAFRINHA CORNs.CHICAGO WHEAT MARKET was downed by 1.2%. US DOLLAR was sharply collapsed as CPI numbers are showing more cooling on inflations. FUNDS are still NET SHORT on all WHEAT MARKETS, but CORN/SOYBEANS are rallying, US WHEAT qualities are slipping down… We could see MORE SHORT COVERINGS in WHEAT MARKET soon. PARIS MILLING WHEAT was downed by 0.9% and LONDON FEED WHEAT was up 0.1% today.</article></body>

NOV 14. Xi meet Biden now, why?

As expected, USA’s CPI number was 3.2% rise year on year base in October. It was 3.7% rise in September. CPI number clearly shows that inflation in USA is cooling down well. Stock markets were rallying big, Bond yield dropped as US dollar collapsed once more. Now, we should ask ourselves, is this a really good sign for the world economy? Or another USA’s lone rally while others are dying?

Biden is meeting Xi in SF this week. Meeting at San Francisco could mean a lot to both of them. West coast Start up industry was the main driving engine for US economy and China was standing beside.

Are they going to solve all those conflicts and go forward from here? No way… someone must kneel down for the ending but let’s think…Biden would do that? Or Xi would do that?

US stock markets were rallying huge with cooled down inflations of USA today. What would FED do about this now? Are they going to raise the rate regardless of what? FED will closely watch out how the market moves from here.

DJ Index was up 1.4%, S&P 500 Index was up 1.9% and NASDAQ Index was up 2.4% today. It’s not safe to watch the USA’s strong sold performance too long, USA need some support from others. What could be USA’s partner from here? It’s got to be someone who have enough money to pour into US… That’s why we need to watch how Japan is going to do from here.

Apple was up 1.4%, Amazon was up 2.7%, MS was up 1.0% and Tesla was up 6.1% today.

US dollar index was downed big today, fell 1.5%, ending at 104.09 points today. It was the largest single day percentage fell since November 11, 2022. 10-year US T-note yield was downed below 4.5% today. Euro was up 1.7%, pound was up 1.8% with others at similar percentages against US dollar.

Except Japanese Yen, JPY was up only 0.9% and ended at 150.23 yen/dollar today. Japan could be America’s second cash deposit box, regardless of what Japanese people suffer. Well, let’s see but other than this, no one can explain why Japanese Yen is doing with US dollar now.

Gold was up 0.9% ending at $1,962.44 per Oz today.

Crude oil price was downed a bit, not much moved at all. US dollar collapsed today but NYMEX Brent oil price fell 0.1%, ending at $82.45 per barrel. It seems like Israelis are having a kind of trouble with advancing deeper into Gaza now.

So, what are they going to do now? Now days, even ultraright wing players are in quiet mode about Israeli incidents. That’s becoming the bear factor for the oil market. Uncertainties of the future demand is becoming another big bear factor now.

That’s the reason why funds are adding more short positions these days.

In the agricultural market today, bullish tone has continued but much weakened tone. Still, weather forecast of the Brazil is the main factor of the market and it shows some sign of changing today. But, still, forecast is the forecast only. Funds are adding more LONGS in oilseeds sections. That’s the biggest worries of the day.

Let’s see some details.

CHICAGO SOYBEANS & MEAL MARKETS extended its rallies today. CHICAGO SOYBEAN price was up 0.5%, CHICAGO SOYBEAN MEAL price was up 1.0%. CHICAGO SOYBEAN OIL price was sharply up today with reclaiming ratio with MEAL/OIL price. CHICAGO SOYBEAN OIL price was up 2.4%. OPEN INTEREST of SOYBEAN MEAL was up to over 13K LOTS as NEW LONGS added, and SOYBEAN’s OPEN INTEREST was up 3K LOTS as well. Interior SOYBEAN BASIS finally shows some SOFTER tone today with increasing farmer selling, and STRONG FUTURES PRICE but down in SOUTH AMERICA, still farmers are holding their stocks. US SOYBEAN HARVEST is about 95% done vs 91% in average. MALAYSIAN PALM OIL MARKET was up 2.7% with follow through rally of SOYBEAN OIL. WEATHER FORECAST of BRAZIL changed a bit with some possible rains early next week on CENTRAL BRAZIL, but SOUTHERN BRAZIL remains quite wet, still. PARIS RAPESEED MARKET was up 0.7% as well. Germany’s new crop rapeseed planting might decrease for 2024 crops by 4~7% due to the excessive rains. It could be another BULLISH FACTOR for the oilseed market.

CHICAGO CORN MARKET was up again by 0.2% today. Consolidated at the beginning but recovered fast to the end. US CORN HARVEST is about 88% done vs 86% average. US FARMERS are still not selling a lot of CASH CORN to the market. They think CORN PRICE is still too low, farmers are targeting around $5/bu level. Still, players are focusing more on BRAZILIAN WEATHER for its SAFRINHA CORNs.

CHICAGO WHEAT MARKET was downed by 1.2%. US DOLLAR was sharply collapsed as CPI numbers are showing more cooling on inflations. FUNDS are still NET SHORT on all WHEAT MARKETS, but CORN/SOYBEANS are rallying, US WHEAT qualities are slipping down… We could see MORE SHORT COVERINGS in WHEAT MARKET soon. PARIS MILLING WHEAT was downed by 0.9% and LONDON FEED WHEAT was up 0.1% today.