The overnight market have once again shown some signs of life in the soy-complex as this market seems to be the only market that has global interest. The beans as of 8CST are trading +6-9, meal gained $1.50-2, oil increased by 25-30 points, corn is virtually unchanged…again and wheat is up 2-3.
Oil prices may fall slightly in the near-term, as pressure is offered by technical factors and the lack of progress in fiscal cliff negotiations. Background pressure will come from next week’s OPEC meeting where quotas are expected to be left unchanged, and from the growing amount of U.S. oil production.
I am going to present the wire in a little different slant today, as I mentioned last week we are going to try some new approaches of doing things as we head into the New Year and since markets are as slow as they are I thought we would try a few new things.
Energy Price Outlook Oil prices may fall slightly in the near-term, as pressure is offered by technical factors and the lack of progress in fiscal cliff negotiations. Background pressure will come from next week’s OPEC meeting where quotas are expected to be left unchanged, and from the growing amount of U.S. oil production. These could take WTI down toward the $85.00/bbl level through year-end unless a fix to the
The overnight trade is starting the month of December with renewed hopes that December of 2012 will give a Christmas present like the December of 2011. The beans are already +20, meal has gained $5, oil has posted gains of 70 points, corn is pushing 10 higher and wheat is also +10-12.
Oil prices are likely to hold within their relatively sideways direction in the near-term, as support from a weaker dollar is countered by uncertainty over the fiscal cliff. WTI had a nice bounce early in the session yesterday but fell back to close near the day’s low
A clarion is a medieval trumpet that had clear, shrill tones. Trumpets were often uses to get people’s attention when making announcements. We are using “clarion” in the context of making announcements, as well as being thought-provoking when sharing our information and opinions with those who are interested in new investment ideas. Topic: Natural Gas For quite a while, natural gas performed so badly, with the price beaten down
Daily Energy Report – The selloff in oil prices yesterday almost fully unwound the rally made on Monday as the buildup of fear subsided.
Welcomes to today’s Morning Coffee Break – U.S. markets are coming of the largest single day gains since early September. Depending on which analysts have the airways the move was due to an extreme oversold condition while others point to the growing confidence in a deal to avoid the fiscal cliff.
Oil prices have held within a roughly $2.50/bbl trading range in the past seven days since the initial post-election $4.27/bbl washout on Nov 7th. While the Israel/Gaza conflict has been supportive for the market, it has only been a factor in the last two days of last week.
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