JAN 21. What could be the safest assets on the planet today?

[01/21] Expectations of rising interest rate are growing up fast day by day and this tumbled all equity markets hard this week. DJ fell 1.2%, S&P fell 1.7% and NASDAQ fell 2.4% today. NASDAQ stock index has fallen more than 10% this week. Companies like P&G, it’s very simple for them to protect their stock value, just raising up all of their price tags on products, such as toilet papers, shampoos and frozen foods. People have to buy this kind of basic products anyway, but people would not buy expensive new smart phones anymore. That’s why NASDAQ is falling more than DJ these days. P&G’s stock price was $157 per share two days ago and ended at $162.85 today. Tesla’s stock price was $1,042 per share two days ago and today, ended at $944.31. Bitcoin dropped more than 10% again today, sunk under $40K finally, ended at $38,245. Russians have banned all of trading and mining of encrypt currencies in their territories yesterday after China had done that a few months ago. All of these are saying one thing, let’s get out of here for now. Money is moving out of equity markets fast recently. Crude oil price slid again for a second days in a row. Brent oil futures ended at $87.89 per barrel, fell another 49 cents. Not big drop but went away from 7 year’s top. Another pure profit taking selling. US and other Western countries diplomats are keep taking with Russians, not to invade Ukraine in Ukraine. So, where are Ukraine people now? Not a single media is really saying anything about what Ukraine people want. Funny world. Please, no more war.

In Ag market today, Chinese bought two Brazilian soybean cargos and one US PNW soybean cargo for Oct shipment last night. Southern Argentine received another good rain but not much for other South American regions. Drought continues on most of South American soils. New weather forecast is saying that possibly some rains next week on Rio Grande Do Sol and Southern part of Parana state in Brazil. Too late for soybeans? Based on Chicago futures market, corn went up 0.9%, soybean fell 0.8%, soybean meal fell 2.1% and wheat fell 1.3% today. What could be the safest assets on the planet now? Don’t you think “OILSEEDS AND GRAINS” could be the one at the moment? South Americans are losing at least 12M MT of soybeans and corns because of the drought there and we need at least 8 more months for new crops out of Northern Hemisphere later this year.

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Chun09

Trying every day, engraving what we’ve been through

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