Financial News Hub

Investing, trading, stocks and Forex news & updates

> Home / Commodities
abs_728z90_red

Wheat Tops One-Week High of $5 Despite Global Supply Glut

by

Wheat futures are trading at their best levels in a week as the agricultural commodity topped $5. Despite the industry facing a global supply glut, wheat prices are rising higher on an increase in net-long positions and a boost in buying across international markets. But the consensus is that this rally will be short-lived due to immense stockpiles. July wheat futures picked up $0.05, or 1.00%, to $5.0375 per bushel at 15:22 GMT on Wednesday on the Chicago Board of Trade (CBoT). Wheat has risen to a one-week high, but it remains down 10% year-to-date. Japan’s Ministry of Agriculture announced on Wednesday that it is purchasing 110,573 tons of food-quality wheat from the US, Canada, and Australia as the world’s sixth-largest importer … [Read More...]

Soybeans Retreat From One-Week High Despite Bullish Developments

by

Soybean futures are retreating from their best levels in a week after the US government reported that domestic crop plantings fell below expectations. With China renewing its demand for the agricultural commodity, could soybean prices rally in the coming weeks? It depends on Brazil and how it responds to the coronavirus pandemic after becoming a hotspot. July soybean futures tumbled $0.045, or 0.53%, to $8.405 per bushel at 16:57 GMT on Tuesday on the Chicago Board of Trade (CBoT). Soybean prices recently touched one-week highs on supply developments, but they are still down more than 12% year-to-date. According to the US Department of Agriculture (USDA), American farmers planted 53% of their intended soybean acreage, falling short of the median estimate of 56%. Corn witnessed similar … [Read More...]

Bullish This Week for Banks and Silver, Bearish for Crude

by

Apologies for missing my usual weekly post early this week. Easter festivities got in the way.I did, however, update my latest signals table with last week’s data from the Commitments of Traders report.Signals that took effect this week: bullish for the BKX U.S. Bank Index and silver, bearish for crude oil. Other signals remained the same.Tune back in after Friday’s COT report for an updated signals table and a (more timely!) post here. [Read More...]

Gold Plunges 1% on Stock Market Rally, COVID-19 Vaccine Candidate

by

Gold futures are slumping more than 1% on Monday as the US stock market rallies to kick off the trading week. The yellow metal had been trading at its best level in one month on bearish sentiment and inflation concerns, but after the US central bank suggested a vaccine will be the only way to initiate a recovery, investors hit the buy button. June gold futures tumbled $22.30, or 1.27%, to $1,734.00 per ounce at 16:59 GMT on Monday on the Comex division of the New York Mercantile Exchange. Gold prices just came off a 3% weekly increase, bringing their year-to-date gains to around 15%. Silver, the sister commodity to gold, is maintaining the momentum it had at the start of the trading session. July silver … [Read More...]

Cash for Crude, Natural Gas and Copper

by

Three setups go to cash on Monday’s open of trading based on the latest Commitments of Traders data.They are natural gas, crude oil and copper.See my latest signals table for details on trader positioning for these and the other seven markets I trade using the free weekly COT data from the U.S. Commodity Futures Trading Commission.Good luck this week. [Read More...]

Trends

all posts analysis automobile bitcoin btcusd btcusdt business commodities contributions coronavirus currencies equities ethereum finance fixed income forex g10 gbp general gold healthcare indices insights insurance investing investments links market - general market pulse Markets money music oil opinion orange others performance Politics psychology r/bitcoin reviews roundup saxostrats sectors special report stocks and bonds trading systems video wealth adviser xbtusd