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Brazil coffee harvest accelerates

June 7, 2013 12:32 pm
Coffee harvest in the worlds biggest producer and exporter, Brazil, is going to pick up the pace after it stalled due to unfavorable wet weather. According to a Somar Meteoroligia report, growing areas will get dry weather for a long period after June 5, following substantial rain in the beginning of the month. Brazil is […] Read more

Soybeans en route to a best week in four years

June 7, 2013 10:46 am
Soybeans continued to gain for a sixth straight week, the longest such streak in four years, amid increased demand, which drained inventories of last years crop. On the Chicago Mercantile Exchange, soybeans futures for July delivery gained 0.55% on the day and traded at $15.3638 a bushel at 10:17 GMT. According to the U.S. Department […] Read more

Copper rises after a three-day losing streak

June 7, 2013 9:54 am
After plunging for three days in a row, copper prices rose on Friday amid broadly weaker dollar and supply concerns. The Grasberg mine in Indonesia will stay closed for three months due to an independent probe, following fatal accidents that recently occurred. A tunnel collapse on May 14 killed 28 workers and another one died […] Read more

Gold’s attractiveness rises

June 7, 2013 8:17 am
Gold traders are most bullish since the start of the bear market two months ago, supported by weaker dollar and retreat from a five-year high in equities. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 409.95 a troy ounce at 7:52 GMT, marking a 0,41% […] Read more

Oil prices surge amid weak U.S. dollar

June 7, 2013 7:00 am
WTI and Brent crude surged through Wednesday and extended gains in Thursday as broadly weaker dollar and signs of an increase in demand pushed prices up. Both contracts are poised to set a biggest weekly gain since the week ending April 26 with the U.S. oil jumping 3% and the European benchmark 3.3%. WTI crude […] Read more

Natural gas reserves rise more than expected

June 6, 2013 3:01 pm
Natural Gas Storage gained 111 billion cubic feet to 2.252 trillion in the week ending May 31, compared to an 88 billion increase in the preceding week. According to a survey done by Platts, the energy information arm of McGraw-Hill Cos, the EIA’s report should have shown a rise by 93 to 97 billion cubic […] Read more

Gold once again above $1 400

June 6, 2013 1:57 pm
Gold experienced many ups and downs last few days and mostly circled around the $1 400 psychological barrier. The greenback lost positions against the euro as mixed, but overall positive news came out from the single-currency bloc. German factory orders showed worse than anticipated readings on both annual and monthly basis. However, Bank of England […] Read more

Natural gas falls ahead of inventory report

June 6, 2013 1:15 pm
Natural gas tumbled today ahead of the Energy Information Administrations gas reserves report, published weekly on Thursday at 14:30 GMT. Gas futures rallied on Wednesday on sentiment that temperatures will rise, which boosts the fuels demand. On the New York Mercantile Exchange, natural gas for July delivery slipped 0.76% to trade at $3.971 per million […] Read more

Soft futures mixed, sugar near three-year low

June 6, 2013 12:04 pm
Soft futures were little changed in the early U.S. morning on Thursday with sugar going near its lowest level since July 2010 amid sufficient global supply. On the ICE Futures U.S. Exchange, sugar July futures traded at $0,1635 a pound at 11:44 GMT, down 0.12% for the session. The U.S. Department of Agriculture stated in […] Read more

Copper falls amid weak China and U.S. data

June 6, 2013 10:33 am
Copper slipped today after it reached a two-week high of $3.398 on Wednesday amid concerns of reduced global supply. Fatal accidents in the Grasberg mine in Indonesia, which belongs to Freeport-McMoRan Copper & Gold, shut down the mine for three months. Prices found support by a positive reading of Chinas manufacturing PMI, which stood at […] Read more