JAN 18. BIG SELL OFF DAY…

[01/18] All major equity indexes were down hard today. A kind of today’s trigger was stock price of Goldman Sachs. Goldman Sach’s share price fell more than 7% today. They haven’t earned enough money for their stockholders. Trading volumes in financial market were going down hard recently and their expenses were going up. Simple reasons. What about other companies in other industries? Simply saying, who earned money these days? DJ fell 1.45%, S&P fell 1.73% and NASDAQ fell 2.24% today. It was massive sell off day in world of equity markets. Same questions for everyone in every country. Who’s really earning money these days? Well, it’s not the first time we see this kind of market movements anyway… Falling hard on Monday and recovering all the way to the end of the week. Let’s see, we have another three more days in this week. US T-Bond’s yield was going up strong today and USD value was following up. Crude oil market rallied hard again because of those tensions in that region. Brent oil jumped 1.2%, ended at $87.51 per barrel. That’s the highest crude oil price since Oct 2014. With today’s surge, big technical resistance level was penetrated in crude oil market. Russians are ready to move in Ukraine anytime soon. In Ag market today. Chicago corn futures market were up 0.5%, wheat market up 3.7% and soybean oil were up 1.1%. Soybean and meal were downed. Finally, Argentine received good rains yesterday and today. It was good enough news for soybeans and soybean meals. Soybean meal futures were down 3.8% today!! Chinese bought one Brazilian Apr soybean cargo and one US PNW soybean cargo for Oct shipment last night. That’s it. No more. Wheat market was going up all day long… So, all these factors, are pointing one thing! Hot speculation money is exiting from grains and oil seeds market. They are reducing their open positions rapidly. Not agree? Soybeans and meals were heavy on fund’s net long positions, but wheat was the opposite. Let’s see how it goes. Indonesians are going to test their B40 program next month and palm oil market rallied three days in a row. That’s the shock for world vegetable oil market. Indonesian government is using cheap palm oil for their Bio diesels, controlling the palm oil export and they subsidy the domestic edible oil companies for their people. Looks like, palm oil is not going to the cheapest vegetable oil anymore in near future.