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Markets Now: Closing Markets 7-30-24 | How Ugly Could the Selloff Get in the Grains Markets?​

Jul 30, 2024

Grains end lower again on Tuesday seeing more fund selling pressure on the lack of news and the lack of a weather threat. November soybeans were down 18 1/4 cents, December corn lost 7 1/4 cents closing at $4.05 and right on chart support, while September Hard Red Winter wheat fell 3 1/4, Soft Red Spring wheat and Hard Red Spring wheat both lost 7 cents. Allison Thompson with The Money Farm says the change in the weather forecast which put rain into the prime areas of the Corn Belt started the selloff on Friday and its been a downhill slide since then especially for soybeans.

10:45
 

Morning Bid: BOJ hikes with Fed ahead, Big Tech flubs​

July 31, 2024 6:11 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

By any standards of an already busy year, markets are digesting an awful lot of information in a very short space of time - with a Bank of Japan interest rate rise and Microsoft earnings disappointment the latest servings on the final day of July.

Just hours before the Federal Reserve is expected to nod to a first U.S. rate cut in September, the BOJ hiked its official policy rate to 0.25% - sending the yen surging and pulling dollar/yen back to 150 for the first time since March.

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Solvay to supply Europe with rare earth metals to reduce reliance on China​

July 31 (Reuters) - Belgian chemicals group Solvay (SOLB.BR), opens new tab aims to supply Europe with rare earth metals for permanent magnets used in EVs and wind turbines from its refurbished plant in France, to help the continent reduce reliance on China, the company said.

The group confirmed regular production at the plant in La Rochelle should start in early 2025 and said it aimed to meet 30% of Europe's needs for permanent magnets by 2030.

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Scrap Metal Market Update: Copper Weakness & Aluminum Price Falter​

Scrap Metal Market Update: July 2024 Trends & Insights

In this video, the iScrap App brings you the latest weekly update on the scrap metal market. Over the past week, the market has shown flatlined numbers with minimal positive news regarding pricing. The market appears to be stabilizing at current levels, with potential declines on the horizon. Here's a detailed breakdown of the latest trends and updates in various scrap metal sectors:

What You'll Learn:

- Copper prices have plummeted by 25% over the last seven weeks, with a slight uptick this morning.
- Due to weakening manufacturing data, aluminum prices dropped by $0.05 to $0.10 per pound.
- Stainless steel and nickel prices hit 52-week lows, stagnating demand and pricing
- Steel market projections indicate a potential drop of $10 per ton.
- Catalytic converter prices have remained stable, fluctuating within a ±3% range.
- Carbide prices have risen by $0.15 to $0.25 per pound, indicating a resurgence in industrial manufacturing.
- Lead prices show minor signs of growth, including for lead-acid batteries.

Read more: https://iscrapapp.com/blog/weekly-scr...

15:17
 

Arctic Shortcut | Russian Northern Route | What If Iran & Hezbollah Interdict More Chokepoints?​

Jul 31, 2024 #supplychain #shipping #arctic

In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the development of the Russian Arctic route and its use by China and Russia as an Arctic Express Route. We also discuss the potential for Iran and Hezbollah to interdict other maritime chokepoints - Strait of Hormuz and Suez Canal - and what that could mean for global shipping and the viability of the Arctic Route.

16:20


- Marine Traffic https://www.marinetraffic.com/en/ais/home/centerx:-12.0/centery:25.0/zoom:4
- Chinese Container Ships Take Arctic Shortcut Avoiding Red Sea https://gcaptain.com/chinese-containe...
- Arctic Shipping Route to See First-Ever Panamax Containership https://gcaptain.com/arctic-shipping-...
- China and Russia form Arctic express route https://splash247.com/china-and-russi...
- Russia Opens 2024 Arctic Route for Shipping Urals Crude to Asia https://www.marinelink.com/news/russi...
- U.S. to Partner with Canada and Finland to Fix Icebreaker Program and Shipbuilding https://gcaptain.com/u-s-to-partner-w...
- Ships Diverted From Red Sea Send Ripple Effects Across The Globe https://gcaptain.com/ships-diverted-f...
- Israel’s Twin Strikes in Tehran, Beirut Ratchet Up Tensions https://gcaptain.com/israels-twin-str...
- MSC Reaffirms Pledges to Avoid Arctic Shipping Route https://gcaptain.com/msc-reaffirms-pl...
 

Morning Bid: Fed nods to cut, chips rebound, BoE up next​

August 1, 2024 6:09 AM ED

A look at the day ahead in U.S. and global markets from Mike Dolan

The Federal Reserve left Wall Street with little doubt about a first U.S. interest rate cut in seven weeks' time, but multiple cross-currents from the earnings season, Japan and China, and domestic politics all make for a noisy start to August.

The backdrop of falling rates clearly dominated on Wednesday as Fed boss Jerome Powell said a first cut could come as soon as September, putting the central bank near the end of a more-than-two-year battle against inflation just before the election.

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Farm Journal

Markets Now Closing Markets -8-2-24 Video​

Aug 2, 2024

9:51
 

Stocks drop, Nasdaq confirms correction as recession fears mount​

  • US labor growth misses expectations; unemployment rate rises
  • Bets rise for a 50 basis point Fed rate cut in September
  • Consumer Discretionary is worst-hit index
  • Indexes down: Dow 1.51%, S&P 1.84%, Nasdaq 2.43%
NEW YORK, Aug 2 (Reuters) - U.S. stocks sold off for a second straight session on Friday, and the Nasdaq Composite confirmed it was in correction territory after a soft jobs report stoked fears of an oncoming recession.

The Labor Department said nonfarm payrolls increased by 114,000 jobs last month, well short of the 175,000 average forecast by economists polled by Reuters, and the at least 200,000 that economists believe are needed to keep up with population growth. The unemployment rate jumped up to 4.3%, near a three-year high.

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September feeder cattle futures drop $11.60 on the week | Weekly Livestock Market Update​

Aug 2, 2024 #agriculture #news #markets

In this Weekly Livestock Market Update, Brownfield's Meghan Grebner and University of Missouri ag economist Scott Brown provide insight on Restaurant Performance, land values, jobs data and more.

22:03

Chapters:
0:00 Introduction
0:40 This week in the markets
3:11 Weekly Slaughter
5:28 Restaurant Performance Index
9:33 Land Values
13:48 Jobs Report
20:57 Next week's reports
 

Why Walgreens And CVS Are Shutting Down Thousands Of Stores​

Aug 4, 2024 #CNBC

In its fiscal third-quarter report, Walgreens announced its plans to close a ‘significant’ amount of stores, acknowledging only 75% of its 8,600 stores were profitable. While no specific stores were tapped for closure yet, more than 2,000 locations could face the chopping block by 2027. This just the latest sign of trouble for the struggling retail pharmacy sector as CVS and Rite Aid both announced large closures in the past year. Watch the video above to learn why U.S. pharmacy chains are fighting for survival.

12:34


Chapters:
0:00 Introduction
1:17 What Went Wrong
4:10 The drug pricing problem
7:04 The impact of pharmacy deserts
10:03 What’s next?
 

Morning Bid: Stocks reel on 'R-word' return, Nikkei dives 12%​

August 5, 20246:14 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

Whether the prospect of a U.S. recession is real or imagined, the mere return of the discussion has been enough to send world stocks and bond yields reeling just as AI doubts and a Japan-led volatility spike have barreled into holiday-thinned August.

And like many global selloffs before it, there's the risk of a self-feeding spiral amid a frantic search for "safe" bonds as speculation about hurried and dramatic interest rate cuts mounts.

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Stocks plunge: Nikkei down 13%, European shares near six-month lows​

  • European markets open lower, trade down 2.5%
  • Nikkei closes almost 13% lower, Nasdaq futures dive 5%
  • Circuit breakers tripped by torrent of selling
  • Markets see 50 bps Fed cut in Sept, maybe even earlier
  • Dollar falls 2% on safe haven yen, 1% on Swiss franc
SYDNEY/LONDON, Aug 5 (Reuters) - Stock markets tumbled on Monday, with Japanese shares at one point exceeding their 1987 "Black Monday" loss, as fears of a U.S. recession sent investors fleeing from risk while wagering that rate cuts would be needed to rescue growth.

The safe haven yen and Swiss franc surged, as crowded carry trades unravelled, sparking speculation that some investors were unloading profitable trades to get money to cover losses elsewhere. Such was the torrent of selling that circuit breakers were triggered on stock exchanges across Asia.

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Take Five: Global rate cuts? We're halfway there​

August 5, 2024 4:07 AM EDT Updated 3 hours ago

Aug 2(Reuters) - Global stock markets tumbled on Monday at the start of another volatile week, as a so-far reasonably robust earnings season failed to offset fears of a U.S. recession and worries that stocks have become too pricey.

Here is a look at what's big in markets in the coming week, from Lewis Krauskopf in New York, Rae Wee in Singapore, Kevin Buckland in Tokyo and Maggie Fick and Amanda Cooper in London.

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Bunge, ADM to benefit as US farmers sell cheap crops in 'haul of shame'​

CHICAGO, Aug 5 (Reuters) - A spike in bargain-basement crop sales by U.S. farmers needing to make room in storage bins for autumn harvests could boost profitability at grain handlers such as Archer-Daniels-Midland (ADM.N), opens new tab and Bunge Global (BG.N), opens new tab.

Both companies, which trade and process soybeans and corn and benefit from geographic differences in supply, recently flagged slow farmer selling as a drag on second-quarter earnings.

Eight farmers in the key Midwestern crop-growing states of Iowa, Indiana, Illinois and Ohio told Reuters they are emptying storage bins of corn and soybeans harvested in 2023 after holding tight to supplies all year, as favorable weather for crop development finally dashes their hopes for higher prices.

Farmers earlier resisted sales as corn and soy futures prices sank to 2020 lows this year under pressure from large supplies.

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Stock markets were heavily down globally amid US recession fears - as it happened​

  • Wall Street slumped as risk appetite among investors dropped
  • Market worries eased after data showing U.S. service sector activity rebounded in July
  • Traders attributed some weakness to unwinding of sharp positions of carry trades
  • Markets in Asia fell and European stocks slid on U.S. recession fears
  • Trump blamed the Biden-Harris administration
  • Here's a wrapup of what happened on Monday
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Global market rout has more to do with end of cheap funding than US economy​

  • U.S. data doesn't support scale of market meltdown - analysts
  • Huge carry trade unwind a better explanation
  • Further pain likely short-term
LONDON, Aug 5 (Reuters) - A meltdown in world equity markets in recent days is more reflective of a wind-down of carry trades used by investors to juice their bets than a hard and fast shift in the U.S. economic outlook, analysts say.

While Friday's weaker-than-expected U.S. jobs data was the catalyst for the market sell-off, with Japan's blue-chip Nikkei index on Monday suffering its biggest one-day rout since the 1987 Black Monday selloff, the employment report alone wasn't weak enough to be the main driver of such violent moves, they added.

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Is Shipping Sinking? | Tankers | Bulk | LNG & LPG | Mixed Fleet | Containers​

Aug 5, 2024 #supplychain #market #shipping

In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the drop in the market and its impact on shipping.

9:12

- Shipping shares fall sharply amid widespread Wall Street sell-offhttps://www.lloydslist.com/LL1150115/...
 

Stocks drop as early sense of relief falters​

LONDON/SINGAPORE, Aug 6 (Reuters) - Global stocks retreated on Tuesday, surrendering earlier gains, as the uncertainty generated by the previous day's aggressive selloff weighed on investor sentiment, even though central bank officials said all the right things to soothe nerves.

The Nikkei's (.N225), opens new tab 10% rebound in Tokyo overnight delivered an initial sense of relief after the index's 12.4% drop on Monday - its biggest daily sell-off since the 1987 Black Monday crash.

European markets opened firmer, while U.S. stock futures pointed to a modest rise at the opening bell later on. But those gains proved fleeting, leaving the pan-European STOXX 600 index (.STOXX), opens new tab down 0.3% on the day and most major indices in the red by mid-morning in the region.

S&P 500 futures were up by just 0.3%, having risen earlier by as much as 1.7%, while Nasdaq futures were up 0.2%, having gained as much as 2.4%.

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Morning Bid: Rollercoaster markets, Nikkei rebounds 10%​

August 6, 2024 6:24 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

The speed and scale of Tuesday's 10% Tokyo bounce after its worst day in 37 years suggests the wild global market swings of the past week are more rooted in speculative churn than economic fright.

While that's only partly reassuring - as persistent market turbulence can itself sap economic activity - there's good reason to believe a slowing U.S. labor market and factory sector do not automatically presage recession. July service sector readings show other parts of the economy are doing just fine.

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How Orange Juice Became More Expensive Than Ever​

Aug 6, 2024 #CNBC #economy

Citrus growers are losing millions of dollars every year as U.S. orange production plummets amid extreme weather events, incurable citrus greening disease and inflationary pressure. In 2024, orange juice futures hit record highs and prices may go higher. The problems plaguing global citrus production are not easily remedied, but experts are hopeful investment in innovations can help save U.S. citrus groves.

11:34
 

AMERICAS BOJ eases market migraine, Super Micro aches​

August 7, 2024 6:08 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

In an extraordinary round trip over the past week, world markets have rebounded sharply from days of turbulence - thanks in part to Bank of Japan almost apologising on Wednesday for its role in the ruckus - and traders now try to figure out what's next.

Japan's benchmark Nikkei stock index (.N225), opens new tab returned to Friday's close at one point earlier - completing a near 5,000 point, 12% roundabout in just three days and ending Wednesday's session about 1% higher.

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Weekly Scrap Metal Update: Copper Prices Tumble Amid Market Declines​

In this video, iScrap App brings you the latest updates from the scrap metal markets. This past week, we've seen significant tumbles in various markets, heavily impacting copper prices. The stock market experienced one of the largest declines at the start of the trading week, leading to a ripple effect across all commodities.
Read more: https://iscrapapp.com/blog/weekly-scr...

20:05
 

Morning Bid: Markets stay bumpy awaiting jobs reality check​

August 8, 2024 6:12 AM ED

A look at the day ahead in U.S. and global markets from Mike Dolan

Seeking some calm, markets remain edgy following the volatility jolt of the past week and traders now seek some re-assurance the real economy has not shifted underneath them.

Volatility spikes like the one seen on Monday rarely disappear instantly and, with the VIX 'fear gauge' (.VIX), opens new tab still above historical averages of about 20, some turbulence remains. At less than half Monday's peak, however, some healing is underway.

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AMERICAS Ebbing jobs fear sees calmer market waters​

August 9, 2024 6:01 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

The first reality check on July's jarring U.S. employment report suggests rising recession fears were overstated, allowing stocks to claw back nearly all the week's withering losses and volatility gauges to subside to more normal levels.

It's been a hair-raising ride, but Thursday's 2.3% jump in the S&P500 (.SPX), opens new tab marked its best single day in more than 18 months and brought the losses for the week so far to a modest 0.5%. While that would still mark the longest weekly losing streak in almost a year, Friday has yet to play out.

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