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Commodities Briefing - Archive | February, 2011

OECD sees real demand driving commodity prices

Posted on 28 February 2011 by VRS  |  Email |Print

From WSJ: A report being prepared for the world’s Group of 20 leading economies indicates the main factor behind rising prices for wheat, sugar, cotton, metals, oil and other commodities isn’t speculators, as some have suggested, but that the global demand to consume these goods is growing faster than the supply.
The Organization for Economic Cooperation and Development’s study, which is being put together ahead of the next G-20 meeting of top finance officials in April in Washington, may lead to increased efforts to boost commodities output around the world……………………………………….Full Article: Source

Middle East turmoil is wake-up call on exposure to commodities

Posted on 28 February 2011 by VRS  |  Email |Print

From Efinancialnews.com: With rising agricultural and food prices contributing to political unrest across the Middle East and oil prices spiking in response, now is as good a time as any for investors to consider their exposures to commodities.
Institutions, including many pension funds, have been investing in commodities for some time now, and they remain attractive given the broad outlook for the markets. But the way most investors have bought into energy, metals and agriculture is not very efficient. Most have invested in line with the main commodity indices, such as the S&P GSCI……………………………………….Full Article: Source

Global commodity prices add to inflation pressures-NBS

Posted on 28 February 2011 by VRS  |  Email |Print

From Reuters: Rising global commodity prices are posing challenges to China’s fight against inflation, Xie Hongguang, a deputy head at China’s statistics agency, said in China’s 2010 statistics report which was published on Monday.
Fluctuations in the values of major currencies also pose threats to the growth in China’s exports, Xie said……………………………………….Full Article: Source

China: Govt invest in commodities unwise: SAFE

Posted on 28 February 2011 by VRS  |  Email |Print

From Globaltimes.cn: China cannot invest much of its foreign currency riches in the global commodities market, because doing so would only push up the prices of the raw materials that the economy depends on, the country’s top money manager said Saturday.
Yi Gang, head of the State Administration of Foreign Exchange (SAFE), also said that monetary easing in wealthy countries was driving down China’s returns on its $2.85 trillion in official currency reserves, the world’s biggest such stockpile……………………………………….Full Article: Source

Bid to cool expansion is expected to take a toll on surging commodities

Posted on 28 February 2011 by VRS  |  Email |Print

From WSJ: China’s message to slow down its economic growth is likely to damp some investor enthusiasm for commodities, a sector that has been rising on the back of the country’s strong growth.
“It may cause some initial reaction that tempers some speculative demand for some commodities,” said Mark Kristoff, chief executive of Traxys Group, a New York-based commodities trading company……………………………………….Full Article: Source

James K. Glassman on the pros and cons of buying commodities

Posted on 28 February 2011 by VRS  |  Email |Print

From Washingtonpost.com: Commodity investing is suddenly all the rage. And no wonder. Demand for energy, metals, food and all sorts of other staples is booming as half the world - China, India and other developing nations - enters the ranks of the prosperous. In 2010, the price of oil rose 15 percent; gold was up 30 percent; corn, 52 percent; cotton, 89 percent.
Meanwhile, the United States, like other developed countries, has assumed huge amounts of debt since the 2008-09 financial crisis……………………………………….Full Article: Source

Invest in commodities to hedge against inflation

Posted on 28 February 2011 by VRS  |  Email |Print

From Financialexpress.com: With inflation and commodity prices on the rise, there’s a pressing need for investors to tweak their investment strategies. Investing in commodities can be one solution for hedging against rising commodity prices. Investing in commodities has been on the rise since the economic meltdown of 2007.
As the markets have grown, new breed of investors that includes high net worth individuals (HNIs) and even retail investors have made commodities as a part of their portfolio……………………………………….Full Article: Source

RBA member warns of commodity bubble

Posted on 28 February 2011 by VRS  |  Email |Print

From Abc.net.au: Reserve Bank board member Professor Warwick McKibbin has warned of a potentially devastating bubble in global commodity prices and property prices in Asia.
Professor McKibbin, who is also director of the research school of economics at the Australian National University, says if there is a big downturn in Asia Australia could be hit harder because of Australia’s reliance on resource revenue……………………………………….Full Article: Source

Iran sees oil market ‘volatile’

Posted on 28 February 2011 by VRS  |  Email |Print

From Tehrantimes.com: The oil market is changing rapidly, Iran’s OPEC governor Mohammad-Ali Khatibi stated. The Organization of Petroleum Exporting Countries is unable to act for now in the absence of clarity about Libya’s evolving situation.
Mohammad-Ali Khatibi, Iran’s OPEC governor, told Shana news agency on Sunday that “unrest in the Middle East and North Africa and the global increase in crude prices have created instability for OPEC countries and at the same, the organization cannot do anything about it.”………………………………………Full Article: Source

Iran says OPEC needs clarity before able to act

Posted on 28 February 2011 by VRS  |  Email |Print

From Poten.com: OPEC cannot take effective steps to calm volatile markets without more clarity on the implications of regional instability for supply, Iran’s OPEC governor said Sunday, adding the market had enough oil.
Fellow OPEC member Qatar also said Sunday that there was plenty of crude available from both OPEC and non-OPEC producers and that there was no justification for nervousness in the oil market……………………………………….Full Article: Source

How to use the gold-crude oil ratio

Posted on 28 February 2011 by VRS  |  Email |Print

From Resourceinvestor.com: The geopolitical upheaval in the Middle East has levied crude oil prices back up to nearly $100 a barrel, and gold prices above $1,412 an ounce.
We know the psychological reasons for this: Unrest has split Libya in two – and Libya is a major crude oil-producing country… and a member of OPEC. Economic questions of stability in the Middle East have also sent investors back to the relative safety of gold……………………………………….Full Article: Source

Gold output climbs in 2010

Posted on 28 February 2011 by VRS  |  Email |Print

From Reuters: Australia maintained its number two ranking in gold output behind China in 2010 with production of 266 tonnes, as miners dug deeper to cash in on high bullion prices, a survey by sector researcher Surbiton Associates showed.
The increase marked a 17-per cent, or 38-tonne, rise on Australia’s 2009 total and is the highest annual output since 2003, according to Melbourne-based Surbiton……………………………………….Full Article: Source

Gold on track to top all-time high

Posted on 28 February 2011 by VRS  |  Email |Print

From Seekingalpha.com: Gold priced in a basket of commodity currencies is on track to set a new all-time inflation-adjusted monthly average high for February 2011. Commodity currency gold will top the previous all-time high set 31 years ago in January 1980.
MineFund’s Commodity Gold Price Index (CGX) prices gold in the most liquid “commodity currencies”……………………………………….Full Article: Source

Gold asserts haven status, may rise further

Posted on 28 February 2011 by VRS  |  Email |Print

From Thehindubusinessline.com: Uncertainty following the ongoing political turmoil in the MENA (Middle East North Africa) region has resulted in volatile and choppy conditions across global commodity markets in recent days. Developments in Libya are being closely monitored.
To be sure, oil prices have moved up sharply over the week. Similarly, gold and silver have extended their gains because of their safe haven status. However, base metals and agricultural markets have come under pressure from the prevailing environment of risk aversion……………………………………….Full Article: Source

Gold price loves a crisis

Posted on 28 February 2011 by VRS  |  Email |Print

From Telegraph: If there is one thing that gold loves, it’s a crisis - and once again the commodity has started to outperform. “Gold is likely to move to record highs if trouble continues,” said Adrian Ash, head of research at Bullion Vault, which holds more than $1bn (£621m) of gold for clients.
At $1,405, the price is already closing in on its all-time high of $1,423.75, hit on December 6 last year……………………………………….Full Article: Source

Silver is the new gold: Prices double in a year

Posted on 28 February 2011 by VRS  |  Email |Print

From Emirates247.com: An international buying spree, or flight to safety by global investors, saw silver prices breach 30-year highs on Sunday at $33.30 an ounce. Emerging economies of China and India are both heavy consumers of the metal, which is used in jewellery but also has its use as a raw material for industrial use.
Silver is now up 22.28 per cent in the past 30 days and according to traders, has more than doubled in the last one year, trading as it was at $16.24/oz on February 27, 2010……………………………………….Full Article: Source

Global copper usage in 2010 till Nov grew 7.2pct: ICSG

Posted on 28 February 2011 by VRS  |  Email |Print

From Commodity Online: During the first 11 months of 2010, world apparent usage of copper grew by 7.2% (approximately 1.2 million metric tonnes) compared with that in the same period of 2009, principally owing to recovery from weak 2009 usage levels in the European Union (EU), Japan, and the United States, where usage grew by 10%, 22%, and 7%, respectively.
Although these year-on-year growth rates are strong, usage in the EU, Japan and the United States remained well below pre-crisis levels……………………………………….Full Article: Source

Look before leaping into commodity ETFs

Posted on 28 February 2011 by VRS  |  Email |Print

From Investmentnews.com: As much of the world frantically adjusts to rising commodities prices, this might seem like a good time to jump into one of the many commodity-based exchange-traded funds introduced over the past several years. Not so fast.
Not all commodity-based ETFs are created equal. Some older and single-commodity ETFs, for example, are constructed in ways that prevent them from performing in tandem with their underlying commodities or even with other seemingly comparable funds……………………………………….Full Article: Source

Exchange-traded market set for bigger future

Posted on 28 February 2011 by VRS  |  Email |Print

From Efinancialnews.com: The exchange-traded derivatives market was for a long time the very poor relation of the over-the-counter market: predictable and dull, its margins were poor and the people who did it were usually the type of guys proper bankers would cross the street to avoid.
Som of these qualities have, perhaps, not changed much over the past few years but, in the wake of the crisis and subsequent regulatory initiatives, exchange trading of derivatives is set to become very big business indeed……………………………………….Full Article: Source

Currency wars lose to inflation making emerging markets winners

Posted on 28 February 2011 by VRS  |  Email |Print

From Bloomberg: As recently as last month, governments of emerging economies from South Africa to Brazil warned that competitive devaluations might be needed to keep their strengthening currencies from stifling economic growth.
Now, talk of currency controls is being abandoned and interest rates are rising as record food prices and oil at $100 a barrel make inflation the bigger threat……………………………………….Full Article: Source

Euro aims for $1.40

Posted on 28 February 2011 by VRS  |  Email |Print

From WSJ: A hawkish tone from European Central Bank President Jean-Claude Trichet at the central bank’s policy meeting this coming week could push the euro toward $1.40, analysts expect, but the impact of Middle East upheaval on currencies remains a wild card.
The dollar will likely remain under pressure as market participants mull whether the U.S. Federal Reserve could extend its quantitative-easing measures, after some weaker-than-expected U.S. growth data……………………………………….Full Article: Source

Seoul relents to industry on carbon trading timeline

Posted on 28 February 2011 by VRS  |  Email |Print

From Joongang Daily: Seoul is delaying carbon emission trading to 2015 after opposition from the industry to implement it in two years.
The revised bill, which reflects feedback from businesses, will be submitted to parliament in March, Kim Sang-hyup, the presidential secretary for green growth, said………………………………………Full Article: Source

Will ‘Chindia’ rule the world in 2050, or America after all?

Posted on 28 February 2011 by VRS  |  Email |Print

From Telegraph: With a small tweak in assumptions and the inexorable force of compound arithmetic, Citigroup and HSBC have come up with radically different pictures of what the world will look like in 2050.
Which of the two is closer to the mark will determine whether the West hangs on, or disappears as a relevant voice in global affairs……………………………………….Full Article: Source

Business and commodity prices: Everyday higher prices

Posted on 25 February 2011 by VRS  |  Email |Print

Jeff FettigFrom Economist.com: Well before the recession, retailers and manufacturers already fretted that they were losing their “pricing power”. That did not matter much in good times, when margins rose even when prices fell, thanks to the rapid increase of manufacturing in low-cost countries such as China.
But now the surge in commodity prices—The Economist’s commodity-price index has risen by 49% in the past year—is forcing desperate manufacturers to find out whether they have any pricing power left………………………………………..Full Article: Source

New image for global commodities

Posted on 25 February 2011 by VRS  |  Email |Print

From Seekingalpha.com: Global commodity markets have absorbed a period of trade that has sent gold and silver prices to yearly highs, and West Texas intermediate oil to over $100 a barrel.
Hard commodities, including rare earth sectors, are finding bids a lot more easily than many thought possible, as a consequence of the manipulation in the U.S. bond market, which may have led to, but definitely aided, social unrest that is spreading across the globe………………………………………..Full Article: Source

Which commodities are speculators buying?

Posted on 25 February 2011 by VRS  |  Email |Print

From Ibtimes.com: It’s no secret that speculators are buying up long contracts of commodities futures. Speculators, in this case, refer to market participants who are not commercial producers or buyers of the commodities.
There are two major reasons that explain this increase. One, institutional funds, which used to only invest in stocks and bonds, are increasingly warming up to the idea of commodities. Two, traders and hedge funds are attracted by the upside potential of commodities………………………………………..Full Article: Source

Institutional investors dominate commodity investments

Posted on 25 February 2011 by VRS  |  Email |Print

From Ai-cio.com: According to a recent report by Barclays Capital, net inflows to commodity-related investment are expected to remain strong in 2011, driven largely by institutional investor demand.
“The return of the institutional investor, massive inflows into precious metals led by the desire to hedge against financial market risk, and the gradual shift towards active management of commodity strategies were among the key stories of the year,” the Barclays report said………………………………………..Full Article: Source

Commodity regulation uncertainty key risk for markets – Barclays

Posted on 25 February 2011 by VRS  |  Email |Print

From Kitco News: Uncertainty regarding the outcome of regulations for financial markets is one the main risks for commodities markets in 2011, Barclays Capital said in a research note Thursday.
Ever since the food and oil spikes of 2008, regulation of the commodities market has been a focus but greater oversight has become an objective for all financial markets in order to increase transparency and reduce systemic risks to the global financial system, the bank said………………………………………..Full Article: Source

What are commodity price ratios telling us?

Posted on 25 February 2011 by VRS  |  Email |Print

From Seekingalpha.com: Commodities are notoriously difficult to value, which is why commercial traders have a huge demand to hedge and also why many commodity traders prefer to use technical analysis. Commodity price ratios use technical analysis to provide a glimpse into the historical perspective on prices.
This gives the trader a 30,000 foot view of the relative value of commodity price changes over long periods of time………………………………………..Full Article: Source

Hamish McRae: Oil’s power to shock the world economy has not gone away

Posted on 25 February 2011 by VRS  |  Email |Print

From Independent: Economic Life: Opec has promised to increase production to offset any reduction in output from Libya. Yet the oil price has risen by more than $20 a barrel. It gets worse. At some stage – and let us all hope soon – Libya will be back to some sort of calm and a new regime installed.
Meanwhile the world has to cope with the reality that a civil war in a middling-sized oil producer – it pumps a little more than the UK – has had an immediate and potentially devastating impact on the oil price and potentially on the world economy. What is happening is primarily a human story and a deeply distressing one. But it is also an economic story, so some words about that………………………………………..Full Article: Source

Rising oil prices pose new threat to U.S. economy

Posted on 25 February 2011 by VRS  |  Email |Print

From Nytimes.com: The American economy just can’t catch a break. Last year, as things started looking up, the European debt crisis flustered the fragile recovery. Now, under similar economic circumstances, comes the turmoil in the Middle East.
Energy prices have surged in recent days, as a result of the political violence in Libya that has disrupted oil production there. Prices are also climbing because of fears the unrest may continue to spread to other oil-producing countries………………………………………..Full Article: Source

Fears for UK recovery as oil nears crucial $120 mark

Posted on 25 February 2011 by VRS  |  Email |Print

From Telegraph: The turmoil in the Middle East pushed the oil price close to the crucial $120 mark at which it may threaten global growth, putting the UK at a growing risk of a dangerous inflationary shock.
Brent crude, London’s benchmark oil, jumped $8.59 to hit a 30-month high of $119.79 a barrel early on Thursday, as refiners exposed to Libya stocked up and markets weighed up the risk of the violence engulfing the country spreading to other oil producers………………………………………..Full Article: Source

The true cost of high oil

Posted on 25 February 2011 by VRS  |  Email |Print

From Resourceinvestor.com: Economists are furiously downsizing their economic growth forecasts for 2011 in the wake of the oil price spike, both for the US and for the world at large. Since last week, West Texas crude prices have soared $12 from $86 to $98.
Each $1 increase in the price of oil jumps gasoline prices by 2.5 cents. Each one cent rise in the cost of gasoline takes $1 billion out of the pockets of consumers………………………………………..Full Article: Source

Investec: Oil at $150/barrel feasible

Posted on 25 February 2011 by VRS  |  Email |Print

From Iol.co.za: Specialist investment manager Investec Asset Management believes that with political contagion risks spreading across north Africa and the Middle East, the “guarantee of crude supply” could be further affected, leading to a possible spike in the oil price to more than US$150 per barrel.
Mark Lacey, Investec Global Energy Fund co-portfolio manager, questioned whether the current prices of $111 per barrel reflected a crisis? “In our view, current prices do not reflect a crisis. Our price forecasts based on the long-term cost dynamics of the industry remain unchanged - we continue to assume prices of $100 per barrel in our company models………………………………………..Full Article: Source

IEA says OPEC has ample spare oil capacity

Posted on 25 February 2011 by VRS  |  Email |Print

From Reuters: The International Energy Agency called again on OPEC to draw on excess oil production capacity if required amid worries among oil consuming nations that unrest in oil-rich Libya could disrupt global energy supply.
“The (IEA) governing board takes note of the reports regarding their (OPEC’s) willingness to draw on their excess capacity to ensure additional supplies if required,” the IEA said in a statement on Thursday………………………………………..Full Article: Source

Mining deals to ramp up in 2011, transactions bigger, bolder-E&Y

Posted on 25 February 2011 by VRS  |  Email |Print

From Mineweb.co.za: A new Ernest & Young report says mining is poised for strong growth this year, thanks to soaring commodity prices backed by buoyant demand from emerging markets. In the report “Ungeared for growth, Mergers, acquisitions and capital raising in mining and metals”, Ernst & Young predicts this year will see strong growth in mining M&A “with competition becoming fierce.”
In the global report made public Wednesday, E&Y advises the same factors that drove the growth in deals last year will continue to drive the market in 2011 including: resource security; higher commodity prices; improved cash flow and availability of capital; ongoing industry rationalization and the desire for greater vertical integration……………………………………….Full Article: Source

Russia may cash in as China cuts rare earth metal exports

Posted on 25 February 2011 by VRS  |  Email |Print

From Telegraph: China’s decision to reduce exports of rare earth metals shocked the world, but the crisis could be an opportunity for Russia. In a dramatic move that rattled its trading partners, China announced last year that it would further reduce exports of rare earth metals (REM) by 10pc in 2011.
The decision sent shock waves across the industrialised world as manufacturers are heavily dependent on China for the metals, which are used in a range of sophisticated electronic goods, such as TVs and computer monitors………………………………………..Full Article: Source

Dylan Lobo: Why gold could revisit 1980 and burst $2,000

Posted on 25 February 2011 by VRS  |  Email |Print

From Citywire.co.uk: It is possible to draw parallels between today’s unrest in the Middle East and that of the 1980s which saw gold hit record highs.
The price surged to above $1,400 per oz this week as the crisis in Libya intensified. With the nation’s ruler Colonel Gaddafi vowing not to relinquish power, and growing fears of contagion across North Africa, it would seem the only way is up for the gold price in the foreseeable future………………………………………..Full Article: Source

How’s YOUR gold miner doing?

Posted on 25 February 2011 by VRS  |  Email |Print

From Hardassetsinvestor.com: The recent rebound in gold prices, coupled with a buoyant (well, until this week, anyway) equity market, prompted many investors to wonder if their fortunes would be better hitched to mining stocks than bullion. Based on the performance of large gold producers over the past three months, the answer’s an unqualified “maybe.”
A little explanation’s in order………………………………………..Full Article: Source

Is gold in a bubble?

Posted on 25 February 2011 by VRS  |  Email |Print

From Seekingalpha.com: As a commodities investor, I own gold. I know from history that gold goes up during a commodities bull market, but I have often had difficulty understanding its value. I can empathize with gold bears on this one point: Gold is not a necessity, like food or energy; hence, the intrinsic value gold seems difficult to determine. Oil has always been my focus.
It is easy to understand the functionality and utility of oil and this gives you a better sense of its value. So perhaps it is best to explore the function of gold………………………………………..Full Article: Source

Are gold and silver too high? Or is the rally just starting?

Posted on 25 February 2011 by VRS  |  Email |Print

From Minyanville.com: In its latest Gold Demand Trends 2010 report, the World Gold Council said gold demand hit a decade high as jewelry buyers returned to the market after the previous year’s near-absence and central banks became net buyers. Early indications this year suggest buying interest in main consumers India and China will stay firm.
Gold is all aglitter for Chinese investors as rising inflation and currency appreciation risks make the metal an attractive alternative, placing the country in a position to challenge India as the world’s top gold consumer, according to the report………………………………………..Full Article: Source

Long-term decline in gold/silver ratio to favor silver

Posted on 25 February 2011 by VRS  |  Email |Print

From Kitco News: The gold/silver ratio hit its lowest levels in 13 years this week, and as the bull market continues in precious metals, analysts look for it to fall further as silver outperforms due to the combination of investment and industrial demand.
Nevertheless, some look for the ratio to correct higher in the short to intermediate term. This is largely because of technically oriented factors and since safe-haven demand from large entities might favor gold as geopolitical turmoil continues in North Africa and the Middle East………………………………………..Full Article: Source

Silver ETFs zoom as investors bet on white metal

Posted on 25 February 2011 by VRS  |  Email |Print

From Commodity Online: Exchange traded funds (ETFs) in silver are booming thanks to the strong investment that is pouring in the white metal funds on global crisis. The world’s largest silver backed exchange traded fund iShares Silver Trust SLV, said that its holdings rose to 10519.05 tons against the previous stock of 10411.23 tons seen on Feb 17.
The world’s largest gold backed exchange traded fund, SPDR gold trust said its holding fell to 1,218.243 tons against the previous stock of 1,223.098 tons seen on Feb 21………………………………………..Full Article: Source

Zoom in: Hedge fund ETFs

Posted on 25 February 2011 by VRS  |  Email |Print

From Hemscott.com: While they are still seen as an obscure asset class by many, hedge funds can play a useful role in a diversified portfolio as they aim to deliver returns with low correlations to the broader market.
Providing liquid access to hedge fund performance through an ETF wrapper is an appealing idea, especially in an environment of high correlation between asset classes………………………………………..Full Article: Source

New Asian hedge funds raise $3.8 bln in 2010

Posted on 25 February 2011 by VRS  |  Email |Print

From Reuters: Assets raised by new hedge funds in Asia surged nearly 50 percent to $3.84 billion in 2010 from a year earlier, yet another sign that investor interest in regional funds has been on the mend since a tough 2008.
The number of fund launches increased to 95 last year from 78 in 2009 while the average launch size rose to $40 million from $33 million, according to a survey by AsiaHedge………………………………………..Full Article: Source

Futures markets have turned into ‘alternative casinos’

Posted on 25 February 2011 by VRS  |  Email |Print

From Indiatimes.com: The plot of the commodity futures market reads like that of Prometheus in Greek mythology. Prometheus was entrusted with the task of moulding mankind out of clay. He then stole fire from heaven and delivered it to the mortal kind.
The commodity futures market in India was envisaged as a cornerstone for agricultural market reforms. However, the objectives have been lost out………………………………………..Full Article: Source

CISA: China should use forex reserves to buy commodities

Posted on 25 February 2011 by VRS  |  Email |Print

From Dow Jones: A senior steel industry official Thursday called for China to use its foreign-exchange reserves to build strategic commodity stockpiles, including iron ore, as a means to combat “unfair and monopolistic” global mining companies.
China’s attempts to restrict its $80 billion iron ore import market has been a long-running theme in its struggle to gain a stronger hand in the pricing of the raw material for steel production, a campaign complicated by Beijing’s willingness since June to allow for the yuan’s gradual appreciation, which is conducive for imports of dollar-denominated commodities………………………………………..Full Article: Source

India will not be part of currency wars

Posted on 25 February 2011 by VRS  |  Email |Print

From Indiatimes.com: The Reserve Bank of India has taken a stance that India will not be part of currency wars and will let exchange rate be determined by market fundamentals.
“We believe that it is in our collective interest as global citizens if exchange rates are allowed to be determined by market fundamentals,” said RBI governor D Subbarao at the Convocation of Sambalpur University on Thursday………………………………………..Full Article: Source

Yen, Swiss Franc gain as concern on Libya fuels safety demand

Posted on 25 February 2011 by VRS  |  Email |Print

From Bloomberg: The Swiss franc climbed to a record against the dollar and the yen gained to the strongest level in almost three weeks as the uprising in Libya drove oil to a 29- month high, spurring demand for the safest assets.
The dollar reached the lowest level in three weeks versus the euro amid speculation the European Central Bank will raise interest rates before the Federal Reserve………………………………………..Full Article: Source

Farm commodities rise on biofuels, EU policy, German Group says

Posted on 25 February 2011 by VRS  |  Email |Print

From Bloomberg: Agricultural commodities are rising on a combination of increasing speculation, promotion of biofuels and the European Union’s sugar policy, according to the Association of the German Confectionery Industry.
Margins are under pressure at most medium-sized confectioners in the country because of “huge” price gains for commodities and competition in retail, the industry group said in a statement on its website today………………………………………..Full Article: Source

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