Monday, October 22, 2018
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raw sugar and natural gas lead advance: commodities at close

the standard & poor’s gsci gauge of 24 commodities climbed 0.3 percent to 652.11 at 4:49 p.m. in london. the ubs bloomberg cmci index of 26 raw materials was up 0.5 percent at 1,601.383.

natural gas

natural gas futures advanced in new york for the first time in four days as forecasts showed cooler weather that may boost heating-fuel demand.

crop prices are higher monday; hog prices expected higher

corn prices are trading 5 to 10 cents higher monday morning. corn futures prices are getting off to a strong start this week. the rally is fueled in part by more rain in argentina, which continues to delay corn planting. weather problems in argentina should be positive for u.s. corn exports, but so far the export sales pace is disappointing. a weaker u.s. dollar in early monday trade is also providing support to the corn market.

commodities climb to 4-week high on u.s. budget optimism

commodities rose to a four-week high on optimism that a deal will be reached to avoid automatic u.s. spending cuts and tax increases, boosting the outlook for economic growth and demand for metals, energy and grains.

the standard & poor’s gsci spot index of 24 raw materials rose as much 2.3 percent to 651.75, the highest since oct. 22. gains were led by sugar, which jumped the most since june. oil reached the highest in four weeks amid concern that unrest in the middle east will disrupt supplies. copper climbed the most in nine weeks.

commodities rise on budget talks, economic news

most commodity prices rose thursday as back-and-forth negotiations continued over the u.s. budget.

gold, industrial metals, oil and soybeans ended higher on the day. natural gas, wheat and corn fell.

investors hope the obama administration and congress can agree on a new budget by the end of the year, preventing automatic cuts to government spending and steep tax increases from going into effect.

euro gains amid greek-aid report; aussie climbs on imf

the euro gained against the dollar after a report said greece will receive its next aid payment on dec. 5 as european finance officials met in paris to forge a common position on the bailout.

the ministers move to brussels tomorrow where they will give a tentative go-ahead for the disbursement of 44 billion euros ($56 billion), reported reuters, citing officials familiar with the meeting. the dollar fell earlier against all 16 of its most-traded counterparts as speculation u.s lawmakers will reach agreement on the nation’s budget and avert the so-called fiscal cliff damped demand for safety.

stocks gain, commodities trim loss on budget optimism

u.s. stocks rose, erasing early losses, and commodities pared declines as lawmakers said they are optimistic a budget agreement can be reached to avoid automatic spending cuts and tax increases

the standard & poor’s 500 index was up 0.4 percent at 1,404.62 as of 1:48 p.m. in new york after earlier slumping as much as 1 percent. the s&p gsci gauge of 24 raw materials was down 0.8 percent, trimming an earlier decline almost in half as oil pared losses following a report that showed an unexpected decline in u.s. supplies. ten-year treasury rates slipped two basis points to 1.62 percent and the dollar index reversed an earlier advance to fall 0.1 percent.

oil gains a second day; copper advances: commodities at close

the standard & poor’s gsci gauge of 24 commodities gained than 0.8 percent to 642.15 at 6:05 p.m. singapore time. the ubs bloomberg cmci index of 26 raw materials advanced 0.8 percent to 1,560.81.

crude oil

oil gained for a second day in new york amid concern that middle east unrest will disrupt supply and speculation the u.s. will avert automatic spending cuts and tax rises that threaten to throw the nation into a recession.

speculators raise wagers first time in seven weeks: commodities

speculators raised bullish commodity wagers for the first time since early october as signs of improving economic growth in the u.s. and china pushed prices higher for three straight weeks.

hedge funds and other money managers increased combined net-long positions across 18 u.s. futures and options by 9.6 percent to 846,321 contracts in the week ended nov. 20, commodity futures trading commission data show. that was the biggest gain since mid-august. corn holdings rose the most since july, and those on silver reached a five-week high.

cotton, cocoa rise and natural gas falls: commodities at close

the standard & poor’s gsci gauge of 24 commodities fell 0.5 percent to 634.1. the ubs bloomberg cmci index of 26 raw materials declined 0.6 percent to 1,546.819.

soft commodities

cotton futures gained the most in four weeks on speculation that demand will increase for supplies from the u.s., the world’s biggest exporter. coffee, cocoa and orange juice climbed, while sugar dropped.

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