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The U.S. Geological Survey predicts that the earthquake in Venezuela could cause significant casualties and widespread damage.June 25 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) soybean futures closed lower on Wednesday, with the benchmark contract down 0.7%, marking the third decline in the past four trading days. This was mainly due to the plunge in international crude oil futures, with speculative funds continuing to sell. International crude oil fell by more than $3 per ton on Wednesday, closing at its lowest level in four months, as market concerns about supply eased as more tankers left the Strait of Hormuz. Soybean futures are typically influenced by crude oil movements because soybeans are a key feedstock for biofuel production. Generally favorable weather conditions in the U.S. Midwest, which are conducive to early crop growth, continued to weigh on the soybean market and encouraged speculative funds to continue selling.On June 25th, according to foreign media reports, soybean meal futures on the Chicago Board of Trade (CBOT) closed mixed on Wednesday, with the benchmark contract closing down 0.4%, following the downward trend in neighboring soybean and soybean oil markets. Favorable weather conditions in U.S. soybean producing regions and a clear production outlook continued to pressure the soybean and soybean product markets. The sharp drop in international crude oil futures also negatively impacted the soybean and soybean product markets. The U.S. Department of Agriculture will release its weekly export sales report on Thursday. Analysts expect net U.S. soybean meal export sales for the week ending June 18, 2026, to be between 200,000 and 550,000 tons. In comparison, the previous weeks net sales for U.S. soybean meal in the 2025/26 marketing year were 283,900 tons, and net sales for the 2026/27 marketing year were 120,200 tons.June 25 (Futures News) – According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed lower on Wednesday, with the benchmark contract down 1.3%, following the downward trend in the international crude oil market. Crude oil prices fell by more than $3, reaching levels seen before the Iran-Iraq War, as supply concerns eased as more tankers stranded in the Strait of Hormuz departed. U.S. crude oil futures prices fell below $70 per barrel, hitting their lowest level since March 2. The soybean oil futures market typically follows crude oil trends because soybean oil is a feedstock for biofuels.June 25 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) corn futures closed slightly lower on Wednesday, with the benchmark contract down 0.6%, mainly reflecting the plunge in international crude oil futures and generally favorable weather conditions in the Corn Belt. As tensions in the Middle East eased, more oil tankers left the Strait of Hormuz, causing international crude oil prices to fall further to their lowest level in four months. This put downward pressure on the corn market. Corn is a key raw material for bioethanol production. In recent weeks, speculative funds have been significantly reducing their large net long positions in CBOT corn futures, exacerbating the decline in corn prices. However, recent strong US corn export sales have provided a floor for the corn market.

Gold price prediction: XAU/USD slips to $1,690 on Fed forecasts; US retail sales expected

Daniel Rogers

Sep 15, 2022 11:37

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Gold price (XAU/USD) has adopted a downward trend after falling below Wednesday's minimum of $1,693.67. The precious metal is falling nearing $1,690.00 as bears take control of rising probabilities for a massive Federal Reserve (Fed) rate hike in the near future.

 

Earlier symptoms of weariness have dissipated as a result of Tuesday's higher-than-anticipated US Consumer Price Index (CPI) report. Despite declining gasoline costs, the headline US CPI was announced at 8.3%, which was higher than the 8.2% prediction. The investment community believed that inflation had begun to respond to the Federal Reserve's (Fed) raising interest rates and that a succession of declining price pressures would soon enable the Fed to adopt a 'neutral' stance.

 

However, a US inflation report that exceeded forecasts demonstrates that the road to a neutral monetary policy is far from complete. Moreover, predictions of a one percent rate increase are currently ascendant.

 

In today's session, the US Retail Sales report will be of paramount importance. The economic data estimates do not indicate any improvement in retail demand. This could be the outcome of a fall in consumer confidence in the economy.

 

The gold price has experienced a precipitous decline after demonstrating a textbook-style test and the collapse of a consolidation pattern. On an hourly scale, the consolidation formed within the region of $1,697.12-1,709.62. At $1,698.70, the yellow metal is trading below the 20-period Exponential Moving Average (EMA), which increases the downside filters.

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