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Japan set to release Fukushima water into the ocean
Japan is set to officially decide on releasing the Fukushima Daiichi Nuclear Power Plant treated water into the ocean as early as this month, amid opposition from the fishing industry, which is worried about its reputation. Keeping water at the site, where the devastating tsunami in 2011 led to a nuclear accident, could affect decommissioning. The government's decision about the disposal of the water is expected to speed decomissioning. The release would occur after 2022, following the construction of facilities and creating regulatory procedures.
Chief Cabinet Secretary Katsunobu Kato talked with the chairman of the Japan Fisheries Cooperatives Zengyoren on Thursday about the treated water. Zengyoren, a fishing industry lobby, opposed releasing the water. Kato told reporters that a "decision on the treated water should be made quickly to avoid delays in decommissioning."
https://asia.nikkei.com/Politics/Japan-set-to-release-Fukushima-water-into-the-ocean
Wheat hits near 6-year high, set for weekly jump as dry weather stokes supply woes'
U.S. wheat futures hit a near 6-year high on Friday, as dry weather in key global producing regions raised supply concerns, pushing the grain towards its third straight weekly gain of about 4.5%.
Fundamentals
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The most active wheat futures contract on the Chicago Board Of Trade was up about 4.5% for the week so far, on track for its third straight weekly gain.
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Wheat hit a top of $6.22 a bushel as of 0050 GMT, its highest level since December 2014.
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The most active soybean futures were down nearly 0.5% for the week, their first weekly loss in three weeks.
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The most active corn futures were up nearly 2.5% for the week, their third straight weekly gain.
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Argentina’s Rosario grains exchange lowered its estimate of the South American country’s soon-to-be-harvested 2020/21 wheat crop to 17 million tonnes, from 18 million previously, citing dryness and frosts
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The U.S. Department of Agriculture reported another 261,000 tonnes of U.S. soybean sales to China on Thursday morning.
Market News
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The dollar was headed for its best week of the month on Friday, as surging coronavirus cases and stalled progress toward U.S. stimulus had nervous investors seeking safe assets.
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Asian stocks came under pressure as investors sought safe havens, such as the U.S. dollar, fearing that a resurgence in coronavirus cases and a lack of additional U.S. fiscal stimulus would hobble the world economy.
https://www.reuters.com/article/global-grains/grains-wheat-hits-near-6-year-high-set-for-weekly-jump-as-dry-weather-stokes-supply-woes-idUSL4N2H708L
Gold Heads for First Weekly Drop in Three as Stimulus in Focus
Gold headed for a weekly decline, snapping two straight weeks of gains, as investors weighed the outlook for fresh U.S. stimulus.
Treasury Secretary Steven Mnuchin told House Speaker Nancy Pelosi Thursday that President Donald Trump will personally lobby to get reluctant Senate Republicans behind any stimulus deal they reach.
Trump said he’s willing to go beyond the $1.8 trillion offer for a virus relief plan that’s already been offered by the administration, but Senate Majority Leader Mitch McConnell rejected that, saying GOP lawmakers won’t go along. Gold’s been trading in a narrow range so far in October amid uncertainty surrounding the prospects of a stimulus deal being passed before the Nov. 3 presidential election. The International Monetary Fund has said that more public spending will be needed to complete the economic recovery from coronavirus. Spot gold was steady at $1,907.34 an ounce at 7:48 a.m. in Singapore, and was 1.2% lower this week. The Bloomberg Dollar Spot Index was little changed.
In other precious metals, spot silver dropped 0.2%, platinum rose 0.2% and palladium was steady.
https://www.bnnbloomberg.ca/gold-heads-for-first-weekly-drop-in-three-as-stimulus-in-focus-1.1508926