It would appear that the markets are locked and loaded for a March 15th rate hike, with some players suggesting an increase in probability that there will be three hikes this year.
Into the end of April, the US economy was clawing its way toward self-propagating growth, but clearly recent growth has not been strong enough.
Inclement weather prompted coffee futures to skyrocket higher in value on Tuesday as the soft commodity shot up as much as 10 percent during the trading session, according to Bloomberg.
The prospect of strong harvests in North and South America prompted soybean futures to lose value on Wednesday as the legume marked a second consecutive trade session of losses, according to Bloomberg.
In the first week of 2014, the biggest surprises have been a strong upward reaction in precious metals prices, a series of declines in equities and a massive, concentrated slide in crude oil prices.
Daniels Trading Senior Broker & Grain Analyst Contributing Editor Craig Turner was quoted in the December 23rd, 2013 Dow Jones Newswires article titled “Soybeans Fall as Rain in South America Boosts Crops.”
There is not enough soymeal in the United States to meet demand. To help meet demand, crushers were planning on turning beans into meal using cheaper South American imports, as there is a lot of product available and the crush margins would be well in the green to support their efforts. But, because of the Brazilian port situation, the beans are not coming as quickly as the crushers wanted. The cheap product they could turn into expensive meal is apparently not in the cards.
Anticipation about two days of policy meetings of the central bank of the globe’s largest economy pushed up copper futures on Monday, according to Bloomberg.
The Brazilian real on Friday slipped against the world’s reserve currency after the South American nation’s efforts to stop capital outflows were ineffective, Bloomberg reports.
Coffee futures on Monday were dropping in value as the globe’s top generator of the soft commodity saw its harvest continue advancing, according to Bloomberg.