Shortages in major producing nations, export quotas and a shift to more-profitable crops are all pushing up the price of key food commodities – and that's raised the cost of importing food for nations around the world. The consequences, warns the United Nations' Food and Agricultural Organization, could be severe. The global food import bill… 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.
John Deere & Company tractor sales are expected to increase as commodities perform strongly, Bloomberg reports. Since late July, the Thomson Reuters/Jeffries CRB Index of 19 raw materials indicates commodities prices are higher. But, on top of that, agricultural products have been leading the largest rally since 1972 as cotton prices have skyrocketed 76 percent… Read more.
A glance at a commodity futures chart shows a dramatic shift of momentum in the last few months. Every category has seen massive jumps, from cotton to sugar to silver. Crude oil futures appear to be making another bullish run up towards $100 per barrel, while gold futures have decisively broken the $1,400-per-troy-ounce barrier. Grain… Read more.
Most commodity futures brokers and traders appear to be betting that tomorrow's report from the United States Department of Agriculture will show a decline in U.S. corn production and in global wheat inventories. Commodity investors are "not looking for a lot of changes in wheat, but they are looking for big changes in corn, and… Read more.
Supply concerns have hung over the grain futures market this year, repeatedly driving commodity futures brokers and traders to push the prices of key foodstuffs higher. Wheat was first driven by the drought and fires which tore across the Black Sea growing regions of Russia and Ukraine, leading both of those countries to ban or… Read more.
Every commodity futures broker and trader knows that Russia's wheat harvest got singed by soaring temperatures and a relentless drought this year – but it's now come out that the Black Sea region got so little rain that the planting of winter grain has been held back. Elena Skyrnnik, the Russian minister of agriculture, said… 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 price of wheat gained slightly on Friday, boosted by Russian prime minister Vladimir Putin's announcement that the country will extend its ban on the export of all grains until July 2011. Previously, the ban stopped exports until the end of 2010. Chicago Board of Trade wheat futures for December delivery rose 2 cents to… 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.