Commodities

14 June 2024
Cocoa prices surge as supply crisis in top producing countries worsens 

Key points:  Cocoa prices rise above $10,000 per metric ton, heading toward all-time highs.  Ivory Coast halts cocoa exports for June and forward sales for the next season.  Ghana delays delivery of up to 350,000 tons of cocoa beans due …

12 June 2024
Oil prices rise on falling US inventories and higher global demand forecasts 

Key Points:  Brent crude oil rises to $82.32 per barrel, and WTI rises to $78.42 per barrel.  US commercial crude oil inventory fell by 1.2 million barrels last week.  EIA raises the 2024 global oil consumption growth forecast by 200,000 …

30 May 2024
Wheat prices uncertain following weather prediction in Russia 

Wheat prices drop to $6.84 following forecasted rain in southern Russia and Ukraine. A stronger US dollar also pressures the demand of farm goods.

24 May 2024
Chicago wheat set for biggest weekly gain in a month on global crop concerns 

Key points:  Chicago wheat prices rose 0.4% to $7.01 a bushel, marking a 7.6% weekly gain.  Corn futures increased by 0.3% to $4.65-1/4 a bushel, while soybeans fell 0.1% to $12.38-1/4 a bushel.  Chicago wheat prices gained more ground on …

17 May 2024
Oil poised for weekly gain on rising demand

Key points: Oil prices rise on improving demand signals from China and the US. Brent crude and WTI crude futures are set for weekly gains. Oil prices increased on Friday, with global benchmark Brent set for its first weekly gain …

10 May 2024
Corn and soybean prices on the rise before USDA report

Key points Wheat prices increased by 0.27% to $6.39-2/8 a bushel. Corn and soybeans also showed upward movements, recording gains of 0.22% and 0.02%, respectively. The most-active wheat contract on the Chicago Board of Trade (CBOT) rose to $6.39-2/8 a …

10 May 2024
How the Federal Reserve can influence your next latte 

Interest rates matter more than you think. Learn how the Fed’s policies can affect commodity prices. Imagine starting your day with a warm, inviting latte. As you savor the rich aroma and creamy texture, you’re unwittingly experiencing the end result …

9 May 2024
China sees swings on iron and steel

Key Points: Iron ore and steel prices in China have seen declines due to easing stockpiling post-Labour Day, with mixed trends in global markets. The property sector’s challenges continue to impact steel demand, although regulatory changes offer a potential boost. …

9 May 2024
Increased farmer sales are easing bids for soybeans and corn

Key points Soy and corn basis bids have dropped slightly due to increased farmer sales and recent fluctuations in futures prices. Barge freight costs are rising, and international demand remains robust, as seen in recent large-scale wheat purchases by Egypt. …

6 May 2024
Oil prices climb on Gaza tensions and Saudi price hike

Key points: Saudi Arabia hikes June crude oil prices for most regions US oil rig count falls by 7 to 499, Baker Hughes reports Brent crude futures gained 51 cents, or 0.6%, to $83.47 a barrel at 0636 GMT, while …

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