[12/06] The second week of Dec has started with a bit of hope. OMICRON, newly found COVID variants might be not that dangerous as worried. OMICRON spread really fast, but it doesn’t have a great degree of severity. More than 15 states of US have OMICRON confirmed cases found over the weekend. Looks like, Delta variant are still the majority ones that really dangerous. With this news, equity markets of US and Europe rallied big today. DJ up 2.1%, S&P up 1.5% and NASDAQ up 1.3%. FED will speed up their tapering programs and decide when to raise the interest rate sometime next week when they have another monthly meeting. USD Index up, Gold downed but crude oil rallied huge. Brent oil futures surged more than 5%, back into $72 per barrel region safely. OPEC members seems in quite confident that oil price will not go down further due to OMICRON only anymore. More or less, Russians made another fuss with their usual greed over Ukraine. Biden clearly told Putin over the weekend, DON’T EAT UKRAINES. But we all know Putin. He will do whatever he wants anyway. Another country risk is adding on besides of China. Russian issue will raise the risk, value up the USD more and push the commodity price higher. Chinese company, EVERGRANDE will be gone soon, vaporizing a lot of money together. They sucked up a lot of money, not only in China but internationally as well through HK money market mainly. A big question is what international financing companies are involved in this scheme? Because of EVERGRANDE issues, HK, Singapore and Japanese stock market tumbled down last night. Strangely enough, only Korean stock market stayed firm. NIKKEI, HANG SENG, CSI all downed big. EVERGRANDE will be a huge bomb in Asian market with heavy Chinese related economies. In Ag market, Chinese are keep buying beans in US and Brazil but much less appetite than last week. With less Chinese inflow, soybean and soybean meal downed a bit. Soybean oil market reversed big, 1.2% up with surge of Crude oil market. Wheat market also recovered well today with possible Russian issues. Southern Brazil and Eastern of Argentine shows similar dry patterns again this year. In Argentine, 46% of soybean and 31% of corn have been planted as of now. Still, long way to go. USDA will release their DEC WASDE Report this Thursday. It will be bearish numbers mainly but that will push the market to low again. Let’s wait and see.