August 20 to adjust the trend continues in commodity markets, agricultural products also had relatively strong retired. Analysts pointed out that an atmosphere of increased commodity market short, short-term adjustment pattern has been established.
Long line of retreat
goods in the U.S. economy bearish data and the high profit-taking pressure, the August 20 market continued decline in commodity prices. which, the domestic futures market, the main varieties of the 21 transactions to close out the contract without an increase (Huang Jinping plate to close), colored metal, chemical products is opened sharply lower throughout the day to maintain market tumbled.
in the country after the close of the city, 20 international commodity markets continue to fall, which the New York Mercantile Exchange (NYMEX) crude oil futures trading in most active October contract settled down $ 0.95 to $ 73.82 a barrel, the settlement price hit a six-week low; in the last 13 trading days, crude oil futures have 11 days to go soft.
In addition, the Chicago futures Exchange (CBOT) soybean, wheat, cotton, fell significantly, while the London Metal Exchange (LME) funds are also down across the board. As of 20 close, CBOT9 March wheat fell 2 1 / 4 cents to $ 6.79 / bushel ; November soybeans fell 8 1 / 4 cents to close at $ 10.11 / bushel; ICE Canola futures November contract fell 9.10 Canadian dollars, to close at 439.20 Canadian dollars / metric ton; ICE cotton futures December contract ended down 0.59 cents to 83.55 cents / lb.
LME base metals ended lower across the board 20 is also, of which, three months copper fell 64 to 7265 U.S. dollars / ton, three-month aluminum fell from 26 to 2046.75 U.S. dollars / tons of zinc for three months fell $ 32 to 2,058.75 U.S. dollars / ton.
short-term downside risks remain, analysts said that the current form of domestic external disk lower drag at the same time, domestic commodity supply and demand pattern of relatively loose, on the concerns the second half of the larger economic slowdown, the atmosphere gradually increased short. and today intraday stock prices, further exacerbating the panic of goods, many varieties being sell-off. As a weak state outside the disk, commodities continued to fall short risk.
recent decline of agricultural products across the board, which may have been optimistic about the rally will make it difficult to accept. In this regard, analysts said, due to successive refresh the high prices of agricultural products, profit pressures greater than disk. Domestically , the supply pattern of relatively loose, the expected yield of autumn is also the high side, the market was bearish pressure. short term, the agricultural market have continued to call back request, but the pressure release, the firm's stock futures market structure will continue to inhibit the downstream space.
Specifically, last week (as of August 20) Soybean, soybean meal opened low, dispersal of funds is an important factor in weakening the price, the State Reserve Chen beans may sell at any time, bring more to market psychology pressure, so this week (at 27) or will continue to fall. fats and oils also opened low, or to adjust the overall pressure on profit-taking is concerned about the schedule appears. In contrast, inflation is expected to once again affect the metal important factor in the trend of industrial products, which face downward pressure on non-ferrous metals; steel may be concerned about the 20 day MA Support to the next break to leave only the profit; chemical meteoric rise, concerns the linkage between effect and decisively buy and hold, and as focus on the variety.
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