Commodities News - Part 337

Wheat advances amid negative weather forecasts

June 5, 2013 8:32 am

Wheat marks a fourth day of gains as excessive rains in Midwest U.S. delayed planting of the spring crop and drought in Kansas and Texas caused winter yields decline. On the Chicago Mercantile Exchange, wheat futures for July delivery traded at $7,1063 at 8:13 GMT, up 0,14% on the day. According to USDA’s report on […] Read more

Gold circles around $1 400

June 5, 2013 7:32 am

Gold gained in the early Asian session, supported by equities retreat and weaker dollar. Gold prices plunged 1% on Tuesday on news that India will extend its import ban on the precious metal. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 399,35 a troy ounce […] Read more

Oil gains as inventories fall

June 5, 2013 6:47 am

WTI crude traded higher in the early part of the Asian trading session, supported by expectation of declining stockpiles. According to the American Petroleum Institutes industry report crude reserves shrank by 7,8 million barrels in the week ending June 2. Gasoline stockpiles decreased by 1.3 million barrels, but distillate supplies rose by 241 000 barrels. […] Read more

Soft futures mixed for a second day

June 4, 2013 1:12 pm

Cotton futures extended gains from the previous session and hit a two-week high. On the ICE Futures U.S. Exchange, cotton futures for July delivery traded at $0.8318 a pound at 12:48 GMT, up 0.99% for the day. It rose by 1.5% earlier and hit $0,8364 a pound, the strongest level since May 23. According to […] Read more

Copper climbs to a two-week high

June 4, 2013 11:38 am

Copper futures extended gains from the previous session and hit a two-week high, supported by positive news from China. On the Comex division of the New York Mercantile Exchange, copper futures for July delivery traded at $3.342 a pound at 11:32 GMT, up 0,34% on the day. According to the Chinese government’s official report on […] Read more

Silver plunges following gold

June 4, 2013 9:32 am

Silver tracked golds performance and slipped on Tuesday as the dollar regained some of its strength. The dollar index, which tracks the greenbacks performance against a basket of six major counterparts, was up 0,1% and traded at 82.81. The dollar found support in negative Euro zone data. PPI for April for the single currency block […] Read more

Corn extends losses for a second day

June 4, 2013 8:10 am

Corn dropped for a second day in a row as planting in the U.S. advanced last week and is near completion. According to the U.S. Department of Agricultures report yesterday, around 91% of the corn crop in the worlds largest grower has been planted, up from 86% last week. The USDA said on May 10 […] Read more

Brent oil dips below $102 amid weak U.S. data

June 4, 2013 7:21 am

After rebounding from a one-month low of under $100 per barrel yesterday, Brent crude rebounded above $102, supported by weaker dollar and a North Sea outage. Following disappointing U.S. economy data on Monday, Brent oil slipped below $102 as concern about demand was spurred in the worlds biggest oil consumer, which accounts for 22% of […] Read more

Gold holds gains after biggest climb in two weeks

June 4, 2013 6:38 am

Following the yet another batch of negative U.S. economic data on Monday, gold surged above $1 400 and kept its level during the Asian session. The ISM Manufacturing index mismatched predictions by 1.7% and plunged below the neutral level of 50. The value for May stands at 49, significantly below the 50,7 reading for the […] Read more

Gold surges above $1400 amid disappointing U.S. data

June 3, 2013 2:20 pm

Gold shot up after another batch of negative U.S. data came out. On the New York Mercantile Exchange, gold futures for July traded at $1 405,65 at 14:05 GMT, up 0,91% on the day. The ISM Manufacturing index mismatched predictions by 1.7% and plunged below the neutral level of 50. The value for May stands […] Read more