- Mauricio CarrilloCorn, Soybeans Down After China Tariffs, Wheat Positive, All Eyes on Trump
Investors are now closing positions ahead of the weekend but also ahead of Trump retaliation measure that he will announce this afternoon. Farmers are holding their breath as worries of an even ugliest framework for their business is on the cards.
- Mauricio CarrilloGold Rallies as China Hits Back, Fed hints more cuts, Trump Tweets
The cocktail of news fueled XAU/USD to initially break above the 1,500 level that was a resistance a few hours ago, but now the unit is recovering its mojo, and it is rallying as investors are taking positions on the speculation for more rate cuts as soon as September.
- Mauricio CarrilloCorn, Soybeans and Other Softs Review Yield Revisions and Angry Farmers
US farmers are complaining that the government crop report did not reflect damage from extreme weather conditions in the last months, and it looks like they are right after the Pro Farmer Crop Tour is reporting significantly lower yields than the WASDE report.
- Mauricio CarrilloMetals Down After USD/CNY at New Highs, Fed Divided Decision
In this framework, metals are reluctant to take any direction, and now all eyes are on what Fed boss Jay Powell will say in his scheduled speech in Jackson Hole later this week.
- Mauricio CarrilloPro Farmer Crop Tour Lower Expected Acre Yields, Grains Mixed
Technically, corn futures looks heavy and studies are signaling more room for the downside with the 3.60 area as the next critical support. Below there, please check the 3.50 and 3.40 levels as essential zones of buying.
- Mauricio CarrilloGold, Silver on Consolidation Pattern Ahead of FOMC Minutes
XAU/USD is currently trading at 1,501, falling 0.40% in value so far on Wednesday. Technical conditions are suggesting that a potential downtrend is on the making as the MACD did a bearish cross. However, it is still too soon to say it.
- Mauricio CarrilloGrains Lose Steam and Extend Declines
Grains are trading down on Tuesday as investors are digesting deteriorating crop conditions and lower yield in the acreage. However, the market is still confident from the WASDE report published last week.
- Mauricio CarrilloGold, Silver on Rebound Mode Ahead of FOMC Minutes
Gold is reclaiming the 1,500 level as the metal is moving 0.60% positive at 1,504. However, technical studies are suggesting that the downside is alive and healthy. Watch out the MACD indicator that is about to cross lines in the daily chart.
- Mauricio CarrilloGrains Head Down Amid Improved Weather Conditions
CoT reported a decline in the long positions for corns to the lowest since May. Investors were net long 21,527 corn contracts, the smallest bullish stance in the week of May 28.
- Mauricio CarrilloGold Falls Below the 1,500 as Equities and US Bonds Recovery
Gold and silver are trading down on Monday as investors are betting on riskier assets such as equities and currencies. XAU/USD is testing the 1,490 area, while silver is trading below the 17.00 area.
- Mauricio CarrilloMetals Down on Friday Amid Profit-Taking
XAU/USD is ready to close positive for the third week in a row. Gold is posting 1.02% gains on the last five days, but the movements are more on a sideways mode above the 1,500 area and contained by the 1,530.
- Mauricio CarrilloGrains Resume Downtrend After The USDA Export Sales Report
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.
- Mauricio CarrilloGold Firm Above 1,500 After Retail Sales, Key Developments on the Watch
Technical conditions are losing bullish steam, so more consolidation in the XAU/USD is expected. In any case, the market is entirely focused on fundamental factors and concern about the health of the economy is what is moving the assets.
- Mauricio CarrilloGrains Consolidate Levels Amid Improved Market Sentiment
Prices for exportations in agricultural products rose 0.4% in July, better than expected. Also, a jump of 3.7% in agricultural exported prices in the last 12 months to July has lifted sentiment. It was the highest advance since June 2017.
- Mauricio CarrilloGold and Silver Recover Ground Amid Recession Fears
According to experts who watch this event as an indicator, a recession happens, on average, 22 months following the inversion. So, fears about a recession jumped, and risk aversion flooded markets.
- Mauricio CarrilloCorn Prices Continues its Collapse, Soybean Maintain Levels
Corn was rated at 57% good to excellent, the same of the previous week. Soybeans were 54% good or excellent, again, the same as the last week. Finally, winter wheat harvest is 89% completed, lower than the 96% at this time in the previous five years.
- Mauricio CarrilloGold Rush Puts XAU/USD at Fresh Highs, US CPI higher than expected
XAU/USD jumped to trade as high as 1,535 on Tuesday, its highest level since April 2013. But, US CPI is pushing prices down, and it is currently trading at 1,521, 0.66% positive on the day.
- Mauricio CarrilloCorn and Wheat Fall Hard After WASDE Report
The USDA released the WASDE report with its recalculations about US and global grain productions. Overall, farmers will be able to have more production than previously expected in the marketing year 2019-2020.