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America's oil boom has an awkward side effect in the Permian Basin, where the natural gas that surfaces alongside crude has become something producers struggle to get rid of. With takeaway capacity stretched, Permian gas prices have fallen below zero, leaving drillers paying others to haul the gas away.
Silver behaves as gold's high-beta shadow, running far more volatile than the metal it shadows and overshooting in both directions. Understanding that relationship, and what the gold silver ratio signals, matters more than watching silver on its own.
Brazil is expanding its cotton area for the 2027 season, yet a larger footprint may not deliver a larger crop. El Nino threatens yields and the narrow planting window that opens only after the soybean harvest, putting a second straight year of falling production in view.
Daily CME spot dairy market price summary
The U.S. dollar is the single biggest swing factor for gold and silver, and its long-term trend is now being tested. A confirmed turn in the dollar could reset the outlook for precious metals, either capping them further or opening room toward new records.
August 3 – Equities futures are pointing higher to open the week and month, still in range of recent record highs and flush with optimism that the U.S. and others will start to negotiate with Iran over the Strait of Hormuz. A busy week is on tap with earnings reports and jobs data, among other economic releases. Crude oil is down over $5 per barrel and nearing in on three-week lows. The dollar is only slightly lower this morning but at its own month-and-a half low, while the U.S. ten-year note is also slightly on the low side at 4.68. The VIX index is rebounding a bit today after a sharp slide into the end of last week, just above 16.
Gold's stalled sell-off has less to do with the chart than with a Federal Reserve now led by Kevin Warsh and pulled toward politics. The rate path that gold trades against is being shaped by pressure on Federal Reserve independence, and that backdrop matters more than any single support level.
Dollar to reflect Copom interest rate decision and US economic data
A crowded, one-sided yen carry trade has quietly become one of the biggest sources of leverage sitting underneath high-flying technology stocks. When that funding trade reverses, the selling can travel straight from the currency market into the Nasdaq 100.
Crude oil is caught between a Middle East supply risk premium and an approaching U.S. non-farm payrolls report. The interaction between geopolitics and macro data is setting up the next test for crude oil volatility.
July 31 – Stocks are clinging to modest gains at midday, with largely better than expected U.S. economic data today providing some optimism to end the week. The VIX briefly spiked to 18.7 earlier in the session but has since settled back to 17.15 at midday. The dollar has given back some of its gains on the day, now only modestly in the green, up roughly 0.1% to trade near 100.06 at the time of writing. Treasury action has been mixed thus far today, but yields remain notably elevated, with 30-year yields trading just below their 19-year high at 5.267%, 10-year yields just off their one-and-a-half-year high at 4.74%, and 2-year yields right at 4.30%. Crude oil remains quietly higher, with nearby WTI up 0.9% on the day near $84.70 and nearby Brent up 0.7% to trade near $87.40. The grains and oilseeds are widely lower at midday, with the wheat complex leading the way down, while the livestock sector is largely in the green.
Brazil's soybean exports are being redirected rather than reduced as China leans harder on U.S. beans. New buyers across Europe, the Middle East and Southeast Asia are picking up the cargoes that once headed to China.
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Third party events|North America|Language: English
August 04 - August 06, 2026
Redwood County, MN
StoneX will be at the Minnesota Farmfest, Aug 4-6 in Redwood County, MN. Visit booth #C-2102 to explore StoneX’s Farm Advantage App, designed for agricultural producers and farmers to manage price risk, track margins, and make informed crop marketing decisions.
StoneX events|North America|Language: English
August 12 - August 13, 2026
Louisville, KY
Join us for an interactive program designed for merchandisers of all experience levels. Get valuable insights and actionable strategies to help you navigate the complex world of grain merchandising including topics like cash, futures, options, OTC market tools, hedging, basis, spreads, cash contracts and more.
Webinars|North America|Language: English
August 12, 2026
2:00-3:00 p.m. CT
Stay informed throughout the year with Arlan Suderman’s Market Outlook 2026. Each session highlights the USDA data, global narratives, and market forces shaping price direction, offering practical guidance for navigating changing conditions.
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