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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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U.S. two top commodities continue strong performances

Dec 29, 2010 02:12 PM

Prices for soybean futures slipped as a result of demand sliding while corn prices remained stagnant, Bloomberg reports.

Soybeans had rallied to their highest value in more than two years, increasing as much as 12 percent this month through Tuesday as corn climbed 15 percent during the same period. Government data indicates corn and soybeans are the U.S.' one-two punch, with the former valued at $28.6 billion in 2009 and the latter valued at $31.8 billion in 2009.

"Everybody is expecting to see some of these demand numbers shrink, but we haven’t seen it yet," Dax Wedemeyer, a broker at U.S. Commodities Inc. in West Des Moines, Iowa, told Bloomberg. "We've had quite a run in all these markets."

Rain in Argentina, a leading exporter, is expected to refresh crops and rescue them from hot and dry weather.

On Tuesday, the price for soybeans notched $13.9675 per bushel, the highest price since August 2008.

"Rains next week may be too late for corn," Roy Huckabay, an executive vice president for the Linn Group in Chicago, told Bloomberg. "Today's selling is all about profit-taking ahead of the year-end."

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