Part Three: The Big 3 When trading the corn, soybean, or wheat market, it is important to know the fundamental factors that determine their prices. Knowing how much is planted, when it is planted, how much is produced, the many uses of each market, and who buys the specific market are factors that have a… Read more.
Increased pressure on euro zone officials to solve the sovereign debt crisis prompted the Japanese yen and the U.S. dollar to drop in value as global stocks rallied following officials' efforts to address the crisis and prevent the contagion from further spreading, according to Bloomberg. Three currencies that advanced against the world's reserve currency are… Read more.
Gold futures were edging higher on Tuesday, propelled by news about the central bank of South Korea purchasing 25 tons of the yellowish metal, Reuters reports. The nation's holdings now stand at 39.4 tons as augmented by the most recent acquisition, which occurred during June and July. This purchase is South Korea's first purchase of… Read more.
The central bank of the world's largest consumer of copper again raised interest rates, pushing down copper futures for the third straight day, Bloomberg reports. The People's Bank of China rose rates by one-quarter point on Tuesday in anticipation of a report, set to be distributed next week, that economists believe will indicate inflation accelerated… Read more.
Increasing consumer prices helped push up values for precious metals Tuesday afternoon, which saw gold futures touch their two-week high and silver futures surpass $30 per troy ounce, Bloomberg reports. After 4 p.m. on Tuesday, gold futures were up 1.17 percent, a $15.80 increase to $1,364 per troy ounce. Silver futures were up 3.26 percent,… Read more.
Heavy snowstorms in the Midwestern U.S. pushed up hog futures since animal shipments were delayed, Bloomberg reports. Iowa, the U.S. state that produces the most hogs, took on as much as 16 inches of snow last week, according to the National Weather Service. During that week, meatpackers processed 5.6 less hogs than the week prior. "We're… Read more.
Asian nations are struggling in their confrontation with the worst case of foot-and-mouth disease in more than five decades, Bloomberg reports. The scourge has torn through the livestock industry in South Korea and is poised to spread internationally as the Lunar New Year typically signals increased travel, Bloomberg reports. Juan Lubroth, the United Nations' top… Read more.
Hog futures touched their highest prices in 14 years amidst heightening Asian demand for pork exported from the U.S., Bloomberg reports. As part of an effort to stabilize local prices, the strategy and finance minister of South Korea said the tariff on imports would be suspended. South Korea presently is working on gathering animals in… Read more.
Precious metals' prices shot up as the dollar strengthened and three European nations announced they will sell bonds, Bloomberg reports. The price of gold increased 0.5 percent to $1,376.20 per troy ounce just before 6 p.m. in South Korea. Achieving its largest advance in one week, silver for immediate delivery increased 1.3 percent to $29.0462… Read more.
South Korea, a country that holds keen interest in gold but has no organized equities and future markets operator for the precious metal, confirmed it will open one in 2012, Bloomberg reports. Kim In Soo, an administrator at the Korea Exchange, said demand is high and will only intensify, necessitating the opening of a spot market… Read more.