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Copper prices showed a slight gain on February 18, 2009, as equities made modest gains, halting a previous day's slide. The metal remained in a consolidation phase that began at the start of the year. Rob Kurzatkowski, a futures analyst with optionsXpress, noted that traders were following the
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Copper futures are forecast to open lower on the New York Mercantile Exchange's Comex division, following a decline in base metals on the London Metal Exchange due to weaker European and Asian equities, and a stronger US dollar. London Metal Exchange warehouse inventories of copper continue to rise,
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China is expected to see a significant drop in wheat output this year due to the ongoing drought in key producing regions, but scattered rainfall and some irrigation may help contain the damage. The severity of the drought has led to 5.9 million hectares of wheat areas being affected,
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Concerns about the economic downturn have taken center stage, driving copper prices down as investors anxiously await the outcome of the US government's stimulus package. Copper futures on the New York Mercantile Exchange (Comex) declined by 3.7 cents to settle at $1.5760, amidst worries that the
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The U.S. Department of Agriculture (USDA) has increased its forecast of season-average cash prices for grains, citing reduced global production due to hot and dry weather in South America. The agency raised its estimates for wheat/oats by 10 cents per bushel and soybeans by 25 cents. The USDA
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The U.S. Department of Agriculture's February supply and demand report has provided a boost to Chicago Board of Trade soybean and corn futures, with prices expected to open higher. However, the report's neutral stance on wheat has tempered expectations for a rise in prices. The
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Gold prices are anticipated to decline in early trading on Monday in New York, with April gold futures projected to open around $10 an ounce lower than Friday's close. The strengthening dollar against the euro has contributed to this downward trend, with traders predicting gold to trade within
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Oil production remains ahead of weakening demand, causing crude futures to fall despite a slight increase in prices. The U.S. Energy Information Administration reported a significant 7.2 million-barrel rise in oil inventories for the week ended January 30, exceeding analysts' forecasts. This has led to a deeper
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Copper futures surged on Tuesday, driven by optimism about the economy, stronger pending home sales, and short covering encouraged by chart-based factors. Despite the gains, copper remains within its recent consolidation range. Analysts attributed the rise to anticipation of stimulus proposals from Washington, which has led to a brief boost
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Metal prices, including copper, are poised to start the trading week on a subdued note as economic concerns weigh on market sentiment. The euro's decline against the US dollar is also contributing to a negative outlook for metals, with March copper futures expected to open around 3 1/
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Gold futures declined on Monday, weighed down by a strengthening US dollar, lower equities, and oil prices, as well as profit-taking among investors. The price of April gold fell $21.20 to settle at $907.20 an ounce on the Comex division of the New York Mercantile Exchange. Analysts attributed
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Copper futures managed to settle in positive territory on Wednesday, despite a weak finish, driven by equities strength and a weakening US dollar. The metal, however, came off its intraday highs as participants took profits and the greenback began firming. The March copper contract rose 1.15 cents to settle
