Wheat futures gained on Monday, as Egypt – a major wheat importer that heavily subsidizes the grain for its poorer population – looks likely to turn to the United States for a significant portion of its supplies. With Russia's continued grain embargo putting pressure on commodities markets around the world and pushing up grain futures,… Read more.
China reducing the pace of cotton growth and India enhancing the planting of the soft fiber spawned beliefs that global demand for it will slide, Bloomberg reports. Amidst cotton's price sinking to a four week low in New York and its futures slipping in Zhenzhou, China – the world's largest cotton importer – ordered its… Read more.
With each passing week, it seems that China's economic policy takes on a greater role in determining the momentum of the global commodities futures, equity futures and currency futures markets. With the Middle Kingdom focused squarely on reducing the pace of inflation in its rapidly growing economy, recent announcements have had a decidedly bearish impact.… Read more.
With commodity prices markedly higher, farmers around the nation are capitalizing on the prosperity and investing in and upgrading their machinery, according to published accounts. Combine sales in October 2010 were 24 percent than they were in October 2009 while sales of tractors for all of 2010 have increased in excess of 5,000 from last… Read more.
Grain futures dropped sharply today in Chicago, as traders were spooked by Chinese premier Wen Jiabao's announcement that the world's largest country would take unspecified measures to combat speculation in commodities and inflation. Soybean futures, corn futures and wheat futures took a hit after the premier said that the cabinet is in the process of… Read more.
Speculation that China might take action to prevent inflation by again raising interest rates pushed the nation's commodities futures downward on Friday, according to Bloomberg. Cotton, sugar and rubber prices fell amidst additional speculation that additional preventative steps China might take include selling from its reserves. Copper, zinc and soybeans also decreased in value. "The… Read more.
The Federal Reserve giveth, and the People's Bank of China taketh away. For a while, it seemed that commodity futures prices had nowhere to go but up. Then speculation that the Chinese central bank would cut back on loose money by raising its interest rates sent commodity futures brokers and traders fleeing for the exits,… Read more.
A fresh wave of economic uncertainty helped push the dollar higher on Tuesday, which dampened demand amongst commodity futures brokers and traders for grains like wheat and corn. "Prices in Chicago are adjusting as a function of the euro-dollar rate," Sebastien Poncelet, a consultant at Paris-based farm adviser Agritel, told Bloomberg News in an interview. "There are… Read more.
The greenback surged while corn, wheat and soybean futures fell on Tuesday, raising speculation that the risk trade may be unwinding to some degree. All three commodities have posted strong performances this year, largely on the back of supply worries from around the globe. The worst damage was done in the Black Sea region of… Read more.
A broad range of commodity futures gained in value on Thursday, as investors bet that the Federal Reserve would continue working to weaken the dollar and boost inflation expectations. That strategy appears to be working, at least in part – precious metals, grains, base metals and crude all rose on futures markets. Silver led the… Read more.