Commodity Blog

Soybeans fell on speculations that high prices might damp demand for the grain. Earlier, soybeans touched the four-year high. The prices also fell on the forecast that rains would occur in the regions of the United States that are currently affected by drought. Soybeans fell from $16.5275 to $16.2400 per pound yesterday on CBoT and traded at $16.2425 today.

Crude oil jumped as the United States are going to implement new sanctions against Iran. The USA plans to punish companies that Iran uses to circumvent the embargo. Concerns that such measures would disrupt oil supply brought the prices higher. August futures for delivery of crude oil rose $0.27 to $86.08 per barrel on NYMEX. Brent oil fell, but later rebounded at stayed at $100.60 per barrel on ICE today.

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