On Friday, soybean prices plummeted and are poised for a weekly decline amid slowing demand from the top importer, China. Besides, the latest US weekly reports weighed on the bearish cost. At the time of writing, the price of CBOT soybean futures for May was trading lower by 0.41% to $1,490.88 per metric ton. An …
The price of crude oil plummeted to its lowest level in around three weeks on Thursday due to a firmer USD and Fed rate hike expectations. At the time of writing, the US West Texas Intermediate plunged by 1.96% to $77.69 per barrel. Likewise, the Brent contract declined by 1.82% to $81.61 a barrel. Both …
Crude Oil Price Hit a Three-Week Low Amid Robust Greenback Read More »
On August 26, the prices of gold were trading in the red ahead of Federal Reserve Chairman Jerome Powell’s speech at the annual Jackson Hole symposium. At the time of writing, the US futures for the yellow metal were down by 0.60% to $1,760.20 per troy ounce and spot prices also declined by 0.60% to …
Gold weakens as traders eye Powell’s Jackson Hole talk Read More »
Copper prices stepped higher on Tuesday’s trading session as top consumer China sought to ease concerns over financial distress facing its property sector. Futures tied to the red metal surged 3.13% to $3.46 per pound. Accordingly, China’s Banking and Insurance Regulatory Commission urged banks to extend loans to qualified real estate projects. The move came …
On Monday, wheat futures recovered as Russian missiles hit Ukraine’s southern port of Odesa last Saturday. US futures tied to the commodity edged up 3.54% or 26.90 points to $786.80 per metric ton. The attack threatened a deal signed just a day earlier to unblock grain exports from Black Sea ports. Two Russian Kalibr missiles …
Wheat recovers as Russian missiles hit Ukraine’s port Read More »
On Friday, copper prices traded to a two-year low on heightened fears of a global recession. The commodity may still have room to fall before its role in renewable energy provides long-term support. Accordingly, the US futures of the red metal skidded by 2.73% to $3.47 per pound. Similarly, London contracts edged down 1.49% to …
On Wednesday, oil prices remained high as traders anticipated a report of low US crude inventories. The West Texas Intermediate futures gained 1.02% or 1.21 points to $120.70 per barrel. This jump came after reaching its highest settlement since March 8 in the previous session. Similarly, Brent crude contracts rose 0.95% or 1.13 points to …
On Tuesday, coffee prices edged up on concerns that dry conditions in top producer Brazil may lead to smaller bean production. Arabica contracts advanced 1.50% or 3.48 points to $235.88 per pound, hitting a three-month high. Weather reports stated that Minas Gerais received only 9.50 mm of rain last week, or 44.00% of the historical …
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