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U.S. grain futures crashed Thursday morning, with cash contracts for winter wheat, corn, and soybeans plummeting by as much as 3-25 cents per bushel. The sharp decline was largely attributed to a surge in spot soybean premiums, which dropped by an average of 5 cents, with some terminals slashing
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The latest U.S. petroleum data has shown continued weak demand and abundant supplies, leading to a decline in crude futures prices. On Wednesday, light, sweet crude for August delivery settled 58 cents, or 0.8%, lower at $69.31 a barrel on the New York Mercantile Exchange. This comes
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Investors flocked back to the stock market as earnings reports and economic data hinted at a possible economic recovery. Home builders and retailers led the charge, with the Dow Jones industrial average surging 173 points after four days of losses. Analysts pointed to the resilience of consumer spending, with retailers
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Copper futures experienced a significant rebound on Tuesday after a day of sharp retreat due to fund selling. The weakening US dollar provided support to copper, with September copper futures rising 6.8 cents to settle at $2.2120 a pound on the Comex division of the New York Mercantile
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Copper futures traded in a narrow range, influenced by movements in other markets, and ultimately settled with a small gain as investors consolidated their positions. Market analysts attributed the market's behavior to a combination of factors, including fluctuations in the currency market and uncertainty about demand prospects from
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Copper prices are likely to fall on the Comex division of the New York Mercantile Exchange, with July copper futures opening around 6 cents a pound lower. The decline is attributed to a stronger dollar against most currencies and profit-taking, which also affected other base metals in London trading overnight.
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Macquarie Bank has revised its forecast for copper prices, projecting a 14% increase to $1.75 a pound for 2009 and a 39% hike to $2.50 a pound for 2010. Meanwhile, a BHP executive has stated that Rio Tinto is unlikely to sell its stake in the Escondida copper
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Copper futures experienced a decline on Monday as a strengthening US dollar made dollar-denominated commodities more expensive in other currencies, thereby reducing demand. Despite this, the metal managed to pare some losses and settle above a key moving average. Market analysts expressed mixed views on the future trajectory of the
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Copper futures eased Tuesday despite a constructive report on pending-home sales, with most-active July copper falling 2.15 cents to settle at $2.2975 per pound on the Comex division of the New York Mercantile Exchange. The pullback occurred despite a weak dollar index and favorable housing data, which is
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Despite some late-day gains, the Chicago Board of Trade grain futures saw little activity on Tuesday, pressured by general losses in the market. Corn, soybean, and wheat prices were lower for most of the day, causing farmer activity in the interior to dry up. Analysts point to a combination of
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Rio Tinto Ltd. has secured a deal with Japan's Nippon Steel Corp. for a 33% to 44% decrease in iron ore term prices for the 2009-10 contract year. This agreement marks the first iron ore price settlement of the year, although other major miners and key consumers, such
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Copper futures experienced a significant recovery on May 26, 2009, following a strong consumer-confidence reading in the US and a rally in equities, analysts said. The most-active July copper futures rose 4.35 cents to settle at $2.1410 per pound on the Comex division of the New York Mercantile
