DEC 01

[12/01] Still, two main things are affecting global markets. OMICRON and early Tapering, Equity market started as rally in the morning with spill over from strong Asian markets but later downed hard. DJ fell 1.4%, S&P fell 1.2% and NASDAQ downed 1.9% today. Mr. Powell said today that early tapering and raising the interest rate will be shaped during Dec FED meeting which will be held next week. Looks like, Wall Street guys are beginning to accept this reality and preparing the higher interest era. OMICRON confirmed numbers are rising in US as well with other countries. It’s global issues, not only those some part of African countries but some people are trying to drive this another possible pandemic variant as problems of certain parts. That’s not good thing at all. Winter Olympic will be in Feb 4~Feb 20 in CHINA!!! Who will be there? Remember? Tokyo summer Olympic was hot fuss in Jul, to be there or not. It’s really funny, how come not many people are talking about Winter Olympic now. Is it because of China? Too afraid to say anything to them. It’ll be very interesting to see who there will be would not be there and how Chinese are going to control the pandemic situation. Honestly, no one really know how they are doing there with Pandemic. Two months left… USD Index recovered 0.06%, back into 96.032 region. Crude oil downed again. It’ll be more travel restrictions this winter obviously, less energy demand for sure. Brent oil dropped 36 cents today, fell to $68.87 per barrel. That’s about $12 drop in less than a week period. OPEC guys don’t say anything. In Ag market, corn, bean and meal recovered but soybean oil retreated again. Actually, not much thing to say, most of the day, traders were busy asking what’s going on in equity side anyway. Chinese were buying 3 cargos of US Gulf beans last night and they covered 4 soybean cargos from Brazil. Rumors are running around about Chinses Beijing winter Olympic. Stop running all of their plants near Beijing in Jan. Well, they did before and they will do again, who cares how Chinese people suffer? Right? Why do they host the Olympic anyway? Same reason as in Berlin? CONAB says their new crop planting are doing good. STONE X says Brazil might have 145M MT of new crop soybean and 120M MT of corn next year. That is really good number! Would price collapse then? Not so sure about that. It’s inflated world already.

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