Commodity Blog

Posts Tagged ‘CME’

Sugar futures gained after Pakistan increased purchases. Other importers may follow Pakistan, increasing demand for the sweetener. May futures for raw-sugar delivery gained $0.0072 (3 percent) to $0.244 per pound on ICE Futures U.S. in New York.

Wheat futures went up as the dollar’s decline boosted appeal of the U.S. commodities. The greenback fell 0.6 percent versus a basket of six major currencies today, supporting commodities. May futures for wheat delivery went up $0.08 (1.6 percent) to $5.1375 per bushel on CBoT.

Hog futures advanced as U.S. pork prices continued to rally, signaling that meat inventories are declining. Increasing U.S. exports may further lower pork supplies, spurring hogs price. April futures for hog settlement rose $0.009 (1.3 percent) to $0.7035 per pound on CME.

Wheat futures slid on speculation that the stronger dollar and growing global stockpiles will cut demand for the U.S. grain. U.S. government forecast that world wheat inventories will rise 19 percent to 195.9 million metric tons in the year ending May 31st, the record level since 2002. May futures for wheat delivery slid $0.075 (1.4 percent) to $5.12 per bushel by 10:25 on the Chicago Board of Trade.

Crude oil fluctuated as the dollar rebounded versus the euro, equities rose more than predicted and on speculation about the global economic recovery. U.S. Energy Department reported that U.S. supplies of crude oil rose 1.73 million barrels last week. March delivery for crude oil dropped $0.18 to $76.83 per barrel as of 10:53 on NYMEX.

Cattle futures tumbled from a 15-month record as U.S. wholesale prices for the meat reached a highest in four-weeks, signaling that retailers may slow purchases of beef. Wholesale choice beef rose 0.6 percent to $1.4486 per pound, the highest price since January 20th, as cold weather in the U.S. reduced cattle-weight gains and diminished beef supplies. April delivery for cattle futures subtracted $0.002 to $0.91975 per pound at 11:23 on CME.

Cattle futures slid today on signs that the stronger dollar will cut appeal of  the U.S. beef. The dollar rose 0.9 percent against a basket of six major currencies to a record level since July. The rising dollar makes purchases of beef from the U.S. unprofitable for overseas traders. April futures for cattle delivery slid $0.003 (0.3 percent) to $0.9125 per pound by 12:06 on the Chicago Mercantile Exchange.

Cocoa prices dropped after the dollar rebounded versus the euro and equities declined, decreasing appeal of some commodities for investors as safe haven. The dollar jumped on speculation that a European Union plan to aid Greece avoid default will fall. Analysts say that downward trend for cocoa can be short-term. May futures for cocoa delivery fell $17 (0.5 percent) to $3,099 per ton at 12:11 on ICE.

Cattle futures slid for the second time this week on speculation that demand for a beef has declined as wholesale prices rose in January to a highest level in seven months. Beef price touched the record level since May 27th at January 19th, causing retailers and importers to cut buying. Since January 19th beef has fallen 4.5 percent. April futures for cattle delivery slid $0.00625 (0.7 percent) to $0.8925 per pound by 9:39 on the Chicago Mercantile Exchange.

Wheat futures tumbled in Chicago on forecast that dollar will advance, curbing the demand for U.S. grain as an alternative investment. The dollar rose 0.5 percent versus a basket of six major currencies today, the first gain this week. Some speculators may begin selling commodities which they purchased when dollar was weak. March futures for wheat delivery subtracted $0.0875 (1.8 percent) to $4.785 per bushel as of 9:59 on CBoT.

Sugar dropped after the dollar gained, cutting appeal of some riskier assets. The greenback gained 0.7 percent versus a basket of six major currencies. The rising dollar puts some commodities under pressure. March futures for raw-sugar delivery slid $0.0014 (0.5 percent) to $0.2762 per pound as of 9:48 on ICE.

Hog futures reached the nine-months high as rising demand for the meat pushed the U.S. wholesale-pork prices to the record in 15 months. Wholesale pork climbed 8.4 percent to $0.7305 per pound yesterday, the highest level since October 2008. Analysts say that historical price patterns show the possibility for wholesale pork to reach $0.75 per pound before going down. April futures for hog settlement added $0.0065 (0.9 percent) to $0.734 per pound by 11:00 on the Chicago Mercantile Exchange.

Cattle futures went up and hogs advanced after the dollar slid, spurring the demand for commodities as an alternative investment. The U.S. currency declined versus a basket of six major currencies. February futures for cattle delivery added $0.00475 (0.6 percent) to $0.85225 per pound as of 10:06 on CME. February futures for hog’s settlement gained $0.004 (0.6 percent) to $0.0642 per pound.

Gold futures may decline as some investors sell after the precious metal reached a record high this year. Analysts think that gold rally is curbed until demand outpaces supply. February delivery for gold futures dropped $0.30 to $1,104.50 per ounce by 10:52 on the New York Mercantile Exchange’s Comex unit.

Hog futures gained for the first time in a week on speculation that a winter storm in the U.S. may prevent delivery of animals to slaughterhouses. A storm may cut shipments of hogs from producers, boosting prices on higher demand for supplies. February futures for hog settlement gained $0.00925 (1.4 percent) to $0.6605 per pound by 9:53 on the Chicago Mercantile Exchange.

Sugar futures advanced as the dollar declined, spurring demand for some commodities as an alternative investment. Sugar also rose on forecast that harvest in Brazil, the largest producer, will be lower because of excess rain. March futures for raw-sugar delivery added $0.0016 (0.7 percent) to $0.2238 per pound at 10:26 on ICE.

Coffee futures rose for a second time in a week as the weakening dollar cut appeal of riskier assets such as commodities. The U.S. currency fell as much as 0.6 percent against the basket of six major currencies. March futures for Arabica-coffee delivery rose $0.019 (1.3 percent) to $1.458 per pound as of 11:11 on ICE.

Cattle rose on forecast that adverse winter weather in the northern U.S. Great Plains may slow animal-weight increases. Animals tend to gain less weight in winter, as they expend more energy to stay warm. As a result colder winter means slower weight increase. February futures for cattle delivery rose $0.00275 (0.3 percent) to $0.83475 per pound as of 12:36 on CME.

Corn dropped to the lowest in three weeks on prediction that the U.S. inventories will grow. Analysts consider export demand to be slow. March futures for corn delivery dropped $0.01 (0.3 percent) to $3.875 per bushel by 12:43 on the Chicago Board of Trade.

Copper tumbled on speculation that the global economic recovery may become slower. Imports of the metal in China, the largest consumer of copper in the world, slid in October for the third time in four months. March delivery for copper slid $0.0065 to $3.252 per pound by 11:39 on the New York Mercantile Exchange’s Comex unit.

Soybeans gained for the first time in three sessions on speculation that global demand for the U.S. oilseed and animal feed increased. Sales grew 58 percent to 27.8 million metric tons since September 1st. January futures for soybean delivery gained $0.0675 (0.7 percent) to $10.4075 per bushel as of 11:52 on CBT.

Hog futures climbed to the weekly high on speculation that a rising prices for U.S. wholesale-pork signaled increasing export demand. Exports are rising as the dollar falls and as countries lift bans on U.S. pork that were put after the swine flu outbreak. February futures for hog settlement climbed $0.003 (0.5 percent) to $0.6695 per pound at 12:21 on CME.

Hog futures reached the record level in six months as increasing wholesale pork prices caused speculation about rising demand for the meat. Coming Thanksgiving causes increase in demand for turkey and ham, which is positive for hogs prices. February futures for hog settlement added $0.0165 (2.5 percent) to $0.6765 per pound by 9:57 on the Chicago Mercantile Exchange.

Corn advanced on expectation that a declining dollar will boost demand for commodities as a hedge against inflation. Traders tend to invest in commodities when greenback falls to preserve their purchasing power. March futures for corn delivery advanced $0.1475 (3.8 percent) to $4.0675 per bushel as of 11:51 on CBT.