Commodities News

Japan suspends U.S. wheat imports

Hiromi Iwahama, director for grain trade and operation at Japans agriculture ministry, said the Asian nation suspended imports of western-white wheat and feed wheat from the United States. The U.S. government discovered an unapproved genetically modified strain of wheat growing in Oregon. As a result Japan cancelled a 24 926 metric tons white wheat purchase. […] Read more

Soybeans gain as U.S. supply shrinks

Soybeans for July delivery traded at $15.08, up 0,78% on the day. The grain is headed for its best month since July as steady demand from China dries up U.S. stockpiles. This is a fifth straight week of gain. Prices surged 7.7% in May as the worst drought in the U.S. since 1930 hit last […] Read more

Gold en route to a best week since April

Gold is heading to its best week for the month after prices reached $1 418,25 a troy ounce yesterday. Gold for August delivery stands at around $1 415,25 at 8:45 GMT, up 0,25% on the day. Gold declined around 15% this year and experienced its biggest slump on April 15 and 16. The precious metal […] Read more

Brent oil drops below $102

Brent oil extended further losses and dropped below $102 on Friday, pressured by worries about demand in the United States – worlds biggest oil consumer that accounts for more than 20% of global consumption. The Energy Information Administrations report published on Thursday had some controvertial effects initially, but ultimately led to a decrease in oil […] Read more

U.S. crude oil reserves increase

U.S. Crude Oil Inventories increased by 3 million barrels last week and reached 397,6 million barrels, showed the U.S. Energy Information Administrations report on Thursday. Forecast was for a decline of 600 000 barrels to 393,8 million. Crude oil inventories stood at 394,6 million barrels the preceding week, when stockpiles declined by 350 000 barrels. […] Read more

U.S. natural gas inventories gain

According to the U.S. Energy Information Administration the Natural Gas Storage has increased by 88 million cubic feet last week and reached 2,141 trillion cubic feet, compared to 2 053 trillion the preceding week. This is 3 million more than the 2 138 billion cubic feet forecast. Inventories rose by 72 billion cubic feet during […] Read more

Gold gains further amid disappointing U.S. data

Gold futures gained 1% on Thursday, following disappointing U.S. economic data. Q1 GDP growth was revised downwards to 2.4%, compared to 2.5% according forecasts, thus dampening speculation about an earlier-than-anticipated slowdown of Feds Quantitative Easing program. Initial jobless claims rose by 10 000 to 354 000, way above the forecast of a 4 000 decline […] Read more

Copper edges higher supported by weaker dollar

Copper gained on Thursday as a broadly weaker greenback supported dollar-priced commodities. On the New York Mercantile Exchange copper for July delivery was up 0.3% on the day and traded at $3.306 a pound. The greenback lost positions against the yen, which lead to a decrease in its value against all other major peers. The […] Read more