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U.S. Warns Food Costs May Double With Farm-to-Fork Push By Bloomberg

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© Bloomberg. Sonny Perdue

(Bloomberg) — U.S. Agriculture Secretary Sonny Perdue warned that the European Union’s “Farm to Fork” environmental initiative will stoke trade tensions as European producers face higher costs and seek protectionist measures.

Perdue said in a conference call Tuesday with European and U.S. reporters that world food prices would double if the initiative were followed globally. He said that the estimate was based on conclusions from U.S. Department of Agriculture economists he spoke to.

The EU is seeking to reduce the environmental footprint of its farming and food production industry as part of its ambitious Green Deal agenda to make the bloc climate-neutral by the middle of the century.

The “Farm to Fork” strategy maps out the ways for the region to halve the use of pesticides and antibiotics, boost organic farming, promote plant-based proteins and make every link of the food system more sustainable.

It’s “extremely problematic” to agriculture trade to impose Farm to Fork, characterizing it as relying on “subjective” standards, Perdue said. While he doesn’t think Farm to Fork is in itself protectionist, Perdue said it will inevitably lead to protectionist policies.

Greening agriculture is one of the biggest challenges in the fight against climate change, with food systems responsible for as much as 30% of global greenhouse-gas emissions.

While environmental lobbies have urged a bolder approach by the commission to tackle climate change, the EU strategy has already sparked concerns among farmers and food producers who fear that stricter requirements will undermine their businesses at the time of a recession.

©2020 Bloomberg L.P.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Commodities

Gold Ends Up But Renewed Pressure Seen Without Stimulus Deal By Investing.com

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© Reuters.

By Barani Krishnan

Investing.com – Gold prices rose on Monday but renewed pressure seems likely for the yellow metal as a new coronavirus stimulus deal between the White House and Congress remained elusive.

Those familiar with negotiations on the stimulus said there was still distance between the Republican administration of President Donald Trump and the Democrat Congress led by House Speaker Nancy Pelosi.

Pelosi said Sunday that she was optimistic legislation could be pushed through before the November 3 U.S. election. White House Chief of Staff Mark Meadows also expressed hope on Monday that a deal was possible, saying the administration has gone as far as offering $1.9 trillion versus the $1.8 trillion package proposed earlier.

Yet, a standoff between the two sides lingered, and that weighed on gold prices in late trading.

was at $1,905.35, down $1.05, or 0.1%. It settled Monday’s official trading session up $5.30, or 0.3%, at $1,911.70/oz.

, which reflects real-time trades in bullion, up $2.02, or 0.1%, at $1,902.19 by 3:51 PM ET (19:51 GMT).

Congress, led by Pelosi and the Democrats, approved a Coronavirus Aid, Relief and Economic Security (CARES) stimulus in March, dispensing roughly $3 trillion as paycheck protection for workers, loans and grants for businesses and other personal aid for qualifying citizens and residents.

Democrats have been locked in a stalemate since with Republicans, who control the US Senate, on a successive package to the CARES, arguing over the size of the next relief, as thousands of Americans, particularly those in the airlines sector, risked losing their jobs without further aid.

President Donald Trump trails Democrat challenger Joe Biden in most polls ahead of the November 3 election. A preliminary agreement over the stimulus could be a positive talking point for the president at his campaign rallies.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Commodities

Do You Understand Chart Structure? – Growing Your Money

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Do You Understand Chart Structure?

What do I mean when I talk about chart structure and why do I think it’s so important when deciding to enter or exit a trade? I define chart structure as a slow grinding up or down trend with low volatility and no chart gaps. Many of the great trends that develop have very good chart structure with many low percentage daily moves over a course of at least 4 weeks thus allowing you to enter a market allowing you to place a stop loss relatively close due to small moves thus reducing risk.

Charts that have violent up and down swings are not considered to have solid chart structure as I like to place my stops at 10 day highs or 10 day lows and if the charts have a tight pattern that will allow the trader to minimize risk which is what trading is all about and if the chart has big swings your stop will be further away allowing the possibility of larger monetary loss.

 

 

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

TWITTER—@seeryfutures
FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER
Email: mseery@seeryfutures.com
If you’re looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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Crude Oil Rises as Production Hikes Expected to be Delayed By Investing.com

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© Reuters.

By Geoffrey Smith 

Investing.com — Crude oil prices rose on Monday after the world’s two biggest oil exporters both dropped hints that they may need to abandon, or at least delay, the increase in production that they expect to carry out at the start of 2021.

In opening remarks to a meeting of ministers from the Organization of Petroleum Exporting Countries and its biggest allies, Russian Energy Minister Alexander Novak and his Saudi Arabian counterpart Prince Abdulaziz bin Salman both warned of an uncertain period ahead and stressed the need for the group’s output policy to remain flexible in its efforts to support prices.

By 11 AM ET (1500 GMT), futures had reversed overnight losses to trade up 0.4% at $41.28 a barrel, while the international benchmark was up 0.1% at $42.95 a barrel. Both markers were well off their intraday highs, nevertheless.

U.S. gasoline futures were up 0.2% at $1.1711 a gallon, having hit a two-week low overnight..

Russia’s Novak had warned in his remarks at the ‘open’ session of the meeting that the situation remained fragile and that the recovery in oil demand had slowed down since the summer.  That’s due largely to the resurgence of the Covid-19 pandemic in most of the northern hemisphere – outside China – as colder temperatures and the start of the academic year have combined to spread the virus again. Hospital admissions in both North America and Europe have been on the increase for over a month now.

Even China’s rebound has flattened out somewhat, with third-quarter GDP numbers overnight disappointing both in a quarter-on-quarter and year-on-year comparison, although the country remains on track to be the only major economy in the world that won’t shrink this year.

For his part, Prince Abdulaziz warned that the bloc had to be ready to act pre-emptively to head off a repeat of the second-quarter chaos, when a plunge in demand briefly turned futures prices negative for the first time ever.

“We have to be able to take measures to head off negative trends and developments, to nip them in the bud, before they become threatening,” Abdulaziz said. “Nobody in the market should be in any doubt as to our commitment and our intent. It would be unwise indeed if anyone were to gamble on our determination.”

Abdulaziz had made similar comments at an earlier meeting this year in the direction of those tempted to sell the market short.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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