Welcome back to âbeans in the teens.â
The mantra, which is popular with soybean traders and farmers alike, was back in operation on the final trading day of 2020.
The March futures contract SH21 traded 10 1/4 cents higher at $13.10 3/4 a bushel on the Chicago Board of Trade after hitting an intraday high of $13.21. Based on trading in the most active contract, soybeans havenât traded above $13 since June 2014, according to FactSet.
The rally has the versatile legume on track for a more than 12% December rise and a gain of around 37% for 2020. Soybeans traded at more-than-a-decade low below $8 a bushel in May 2019 as a U.S.-China trade war heated up.
A Portland man pulled someone from the water at Alki Beach in Seattle Wednesday night. Author: Bryant Clerkley (KGW) Updated: 5:51 PM PST December 25, 2020
PORTLAND, Ore. A Portland man saved another man from drowning on Alki Beach in Seattle Wednesday night.
Doug King lives in Portland now, but he grew up in Seattle. He was visiting some family at Alki Beach when he heard what sounded like someone struggling in the water. We could tell there was someone out in the water, King said. We were able to shine the headlight out and saw something out there. At that point, it was clear that someone was drowning.
CALGARY Ocean Wiesblatt became the centre of a polarizing debate, when video surfaced on social media of him on a southwest Calgary outdoor rink. It was a confrontation with two police officers, in which he was wrestled to the ground and handcuffed, before being put into the back of a police car. Police say the 21-year-old former minor league hockey player was arrested for obstruction of an officer and resisting arrest, both criminal in nature. I was kind of surprised it escalated as far as it did, said Mount Royal University justice studies professor Doug King. The young guy just used bad, bad judgment – horrible judgment.
How a weaker dollar could help fuel a commodities boom in 2021
Long-suffering commodity markets may have turned a corner after a pandemic-induced collapse in 2020. What happens next may depend on the fate of the U.S. dollar.
“The only way to get commodities moving in an inflationary, buying power way is a weaker dollar,” said Doug King, head of RCMA’s Merchant Commodity Fund and one of the world’s best known commodity traders, in an interview with MarketWatch.
And a glide path to a weaker dollar does indeed appear to be in place, King said.
2020 was a messy and volatile year for commodities, as it was for other assets. But commodities are coming off a long stretch of weakness after a China-fueled commodity boom part of what some economists and investors labeled a supercycle appeared to peak in 2011.
Crude and Brent oil price outlook for January
December 20, 2020
The US dollar is widely expected to remain under pressure in the first half of the next year
Higher demand from China for oil products will also support prices
Crude oil prices closed above the 100-WMA for the first time in a year
Among other factors and, movements in the oil price market are likely to depend on the U.S. dollar. Given that analysts expect the greenback to remain under pressure in the first half of the next year, oil prices are likely to move in the opposite direction.
Fundamental analysis: A weaker dollar expected in 2021