Institutional investors in Pakistan have practically been barred from investing in bullion due to lack of standardisation in traditional gold trading. Anyone who has ever bought gold from the Saraf bazaar – the traditional gold market – knows how helplessly uncertain they feel in most cases about its quality and whether it is going to fetch an equivalent amount of money should the need arise to sell the gold. Moreover, while small investors are increasingly reluctant to keep gold in [...]
February 5, 2013 12:55 pm
Sugar may fall another 6 percent in New York this year and prompt millers in Brazil, the world’s largest producer, to make more ethanol from cane at the expense of the sweetener, helping curb the global surplus. Raw sugar futures traded in New York will drop to 17.66 cents a pound this year, according to the mean of 27 analyst and traders estimates compiled by Bloomberg at the Kingsman sugar conference in Dubai this week. Ethanol production in Brazil’s center [...]
February 3, 2013 1:55 pm
Commodities rose, capping the longest run of weekly gains in 17 years, on mounting speculation that the economies in the U.S. and China will rebound, boosting demand for metals, energy and crops. The Standard & Poor’s GSCI Spot Index of 24 raw materials advanced 0.5 percent to settle at 679.05 at 3:45 p.m. New York time, led by industrial metals and energy. The broad gauge climbed for the eighth straight week, the longest rally since January 1996. Sponsored Links Reports [...]
January 29, 2013 10:48 am
Wheat declined for the first time in three days on speculation that rains forecast for the U.S. Great Plains will probably bring relief to crops affected by limited moisture as the worst drought since the 1930s persists. Wheat for March delivery lost as much as 0.4 percent to $7.765 a bushel on the Chicago Board of Trade and was at $7.79 by 3:03 p.m. Singapore time. Futures, which climbed 19 percent last year, are little changed this month. Some rain [...]
January 29, 2013 10:43 am
Flooding and heavy rainfall caused by ex-tropical cyclone Oswald that may damage some cotton crops in Australia, the world’s fourth-biggest shipper, will boost production in other regions, according to a growers’ group. “In overall terms, the area of cotton affected by the most recent downpour is reasonably small,” Cotton Australia Chief Executive Officer Adam Kay said in a statement today. While so- called waterlogging may have a short-term impact on crops in some areas, this will be balanced by higher [...]
January 29, 2013 10:41 am
Sugar production in Australia, the world’s third-biggest exporter, will not be significantly affected even as some areas sustained damage from floods caused by ex-tropical cyclone Oswald, according to a producers’ group. Some crops in the Bundaberg, Maryborough and Childers areas in Queensland state may have been damaged, Canegrowers Chief Executive Officer Steve Greenwood said in an e-mailed statement today. Other regions are reporting the rain provided much-needed moisture for this year’s crop, he said. Australia harvested about 30 million metric [...]
January 16, 2013 6:33 pm
Despite a disappointing 2011, many commodities rebounded in a year that was tough for all asset classes. Among agricultural products, wheat and soybeans yielded the highest gains and coffee the biggest loss while in metals, gold’s rally stretched to a 12th year whereas oil posted its first annual loss since 2008 as commodities ended 2012 focused on the U.S. fiscal crisis after riding through a blistering drought and Europe’s debt debacle. Stocks showed best performance in three years after posting [...]
January 12, 2013 5:58 pm
Wheat traders are getting more bullish, even after prices tumbled into a bear market, as demand for U.S. exports strengthened and a drought in the Great Plains threatens to curb next season’s crop. Twelve analysts surveyed by Bloomberg expect prices to rise next week and eight were bearish. A further six were neutral, making the proportion of bulls the highest since Dec. 7. U.S. exports in the four weeks to Jan. 3 were 77 percent higher than a year earlier, [...]
December 20, 2012 3:40 pm
Wheat fell below $8 a bushel for the first time since July 3 in Chicago amid concerns of a lack of export demand and as snow in the central U.S. and a jump in German plantings boosted the outlook for production next year. Egypt’s state grain buyer bought 120,000 metric tons of U.S. soft red winter wheat yesterday, less than half the 280,000 tons of U.S. wheat purchased in a Dec. 1 tender. “People expected more” from Egypt, said Cedric [...]
November 1, 2012 12:36 pm
Slumping energy and metal prices sent commodities to their biggest monthly loss since May, lagging behind stocks, bonds and the dollar, as the global economy grew at the slowest pace since the 2009 recession. The Standard & Poor’s GSCI Total Return Index of 24 raw materials fell 4.1 percent, erasing gains for the year. The MSCI All-Country World Index of stocks slid 0.6 percent, including dividends, while the U.S. Dollar Index slid 0.02 percent. Bonds of all types gave positive [...]
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