Commodities News

Grain futures mixed, wheat advances on speculation lower prices will induce buying

Grain futures were mixed on Monday with wheat marking minor daily gains on speculation that this years 15% fall in prices may lure in importers to buy after unfavorable weather delayed harvest in the U.S. Soybeans declined and corn rebounded after hitting a 32-month low during Asian trading. On the Chicago Board of Trade, wheat […] Read more

Gold rebounds from Friday’s slump, gains remain capped on QE outlook

Gold rebounded on Monday after tumbling more than 2% on Friday as the U.S. Labor Department released data showing the worlds largest economy created more jobs in June than expected, which shot the dollar up. Gains were however limited as the positive economic news reinforced Feds view to scale back its monetary stimulus during the […] Read more

Oil at 14-month high on U.S. data and renewed Middle East unrest

Oil fell slightly during European trading on Monday after marking the biggest weekly gain since February 2011 as political turmoil in Egypt threatened to disrupt oil flow through the state controlled Suez Canal. Unexpectedly upbeat labor data in the U.S. on Friday boosted demand prospect in the worlds biggest consumer. On the New York Mercantile […] Read more

Oil gains on U.S. jobless data, Egypt unrest

WTI prices hit a 14-month high on Friday as positive readings of unemployment data boosted demand prospects in the worlds biggest consumer. Meanwhile, the Egyptian army declared a state of emergency in the Suez and South Sinai provinces, pushing oil to its highest weekly gain since June. On the New York Mercantile Exchange, WTI crude […] Read more

Gold falls following positive U.S. data; dollar index at 3-year high

Gold plunged on Friday following positive readings of U.S. unemployment data that spurred concern over an earlier-than-expected deceleration of Feds bond purchasing program. The dollar extended positions against its major counterparts with the dollar index hitting a 3-year high. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded […] Read more

Cocoa extends gains on delayed harvest; sugar advanced

Cocoa kept on advancing on Friday, marking a fourth straight day of gains. The beans that are used for chocolate production surged more than 5% so far this week as unfavorable weather conditions in the main growing regions is fueling speculations the next harvest, second for the year, will be delayed. On the NYSE LIFFE, […] Read more

Grain sentiment remains bearish

Analysts turned most bearish on corn since November 2010 after The U.S. Department of Agriculture reported last Friday that 97.4 million acres of land was sown to corn, the highest since 1936. U.S. corn output is expected to be 30% higher than last year’s crop and total 14.005 billion. Global production is also projected to […] Read more

Gold drops ahead of U.S. unemployment data

Gold dropped for a second straight day on Friday, erasing partially its first weekly advance in three before todays U.S. jobless data that is expected to point at improving economic performance. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 240.55 per troy ounce at 8:03 […] Read more

Natural gas little changed

Natural gas remained fairly unchanged during Thursdays thin trade. Investors kept in focus EIAs weekly natural gas storage report that was released on Wednesday instead of Thursday due to the Independence Day holiday. Natural gas for August delivery traded at $3.657 per million British thermal units at 15:09 GMT, below opening price of $3.688. Prices […] Read more