Commodity Blog

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Soybeans Rally on Signs of Steady Demand Posted: 14 Nov 2012 08:05 PM PST Soybeans rose on rising demand from US crushers. The National Oilseed Processors Association reported that crushers processed the biggest amount of the grain since January 2010. Demand was supported by exports to China. The government data showed that US exporters sold 120,000 metric tons to the Asian country. Gains of the agricultural commodity were limited by the poor data from Europe. Eurozone industrial production fell 2.5 percent in October and today’s reports are expected to show that economic growth in France and Germany stalled. On the positive note, the US Federal Reserve hinted that additional stimulating measures may be appropriate, boosting investors’ willingness to risk and buy raw materials. Soybeans rose $0.0425 (0.3 percent) to $14.2325 per bushel as of 4:00 GMT on CBoT today. (...) Read the rest of Soybeans Rally on Signs of Steady Demand (12 words) Posted on Commodity blog.

Crude Oil Jumps After Israel Attacks Gaza Strip Posted: 14 Nov 2012 05:31 PM PST Crude oil advanced after Israel performed air strike at Gaza Strip. According to Ashraf al-Qedra, a spokesman for the Ministry of Health in Gaza, Ahmed al-Jabari, the second-in-command of the military wing of Hamas, was killed during the attack. Israel’s Prime Minister Benjamin Netanyahu hinted that the country may continue strikes: The world needs to understand that Israel will not sit idly by in the face of attempts to attack us. We are prepared to intensify the response. At the same time, we are closely monitoring what is happening on our border with Syria and there we are also ready for any development. As usual, tension in Middle East increased risk premium. The prices did not fall even after the American Petroleum Institute reported that US crude oil inventories rose 1.35 million barrels to 373 million last week. Crude oil (light sweet) rallied from $85.43 to $86.24 on NYMEX as of 1:20 GMT today. (...) Read the rest of Crude Oil Jumps After Israel Attacks Gaza Strip (12 words) Posted on Commodity blog.

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