July 10, 2013 10:05 am
Corn gained on Wednesday, extending Tuesdays biggest gain in 10 weeks as analysts expected the U.S. Department of Agriculture to trim its U.S. crop outlook. Wheat and soybeans marked minor daily gains. On the Chicago Board of Trade, corn futures for September delivery traded at $5.5425 a bushel at 10:00 GMT, up 0.48% on the […]
Read moreJuly 10, 2013 8:21 am
Gold steadied near one-week high during early European trading after dropping in the Asian session on weak economic data from China. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 253.95 per troy ounce at 8:15 GMT, up 0.65% on the day. Prices held in range […]
Read moreJuly 10, 2013 7:13 am
West Texas Intermediate crude rose to a fresh 14-month high of $104.74 per barrel during Asian trading as the American Petroleum Institute said in its weekly report that U.S. oil reserves dropped more than expected for a second straight week, offsetting IMFs trimmed global growth forecast from yesterday. Violent clashes between supporters of Egypts ex-president […]
Read moreJuly 9, 2013 3:00 pm
Oil fell during the late European and early American sessions as the dollar edged higher and the dollar index marked a fresh three-year high. The U.S. currency tends to trade inversely to raw materials. Strengthening of the greenback reduces commodities appeal as an alternative investment and makes them more expensive for foreign currency holders. On […]
Read moreJuly 9, 2013 1:16 pm
Soft futures edged higher on Tuesday with sugar and cotton gaining less than 1% on the day, while in London robusta, arabica and cocoa marked moderate gains. On the NYSE LIFFE, robusta coffee for September delivery traded at $1 878 a ton at 13:12 GMT, up 3.07% on the day. The contract hit a 1-month […]
Read moreJuly 9, 2013 10:38 am
Grain futures advanced on Tuesday. Corn extended Mondays gains as analysts expect the USDA to trim its corn output forecast. Meanwhile, Japan is planning to buy more than 26 000 metric tons of U.S. wheat. Soybeans advanced more than 1%. On the Chicago Board of Trade, corn futures for September delivery traded at $5.4163 a […]
Read moreJuly 9, 2013 8:59 am
Copper dropped on Tuesday after Chinas National Bureau of Statistics reported the countrys Producer Price Index dropped more than expected in June, marking the worst run since 2002. On the Comex division of the New York Mercantile Exchange, copper futures for September delivery traded at $3.078 a pound, marking a 0.70% daily loss. Prices ranged […]
Read moreJuly 9, 2013 8:09 am
Gold continued to advance on Tuesday, extending its rally from Monday, after China reported higher than expected annual consumer inflation. The precious metal was also supported as traders closed bets on lower prices known as covering a short position. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded […]
Read moreJuly 9, 2013 7:17 am
West Texas Intermediate dropped below $103 per barrel during Asian trading as concern over oil transportation through the Suez Canal and the Suez-Mediterranean Pipeline eased after interim Egyptian president Adly Mansour set a speedy timetable for the next parliamentary elections. The American benchmark however rebounded to trade well above $103 per barrel during the early […]
Read moreJuly 8, 2013 2:56 pm
Oil dropped during the late European and early U.S. session after an Egyptian official said the state-controlled Suez Canal is secure and ship traffic is normal. Meanwhile, positive U.S. economic data that was initially bullish for oil reinforced Feds view into tapering its bond purchasing program this year, which according to some analysts will be […]
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