Commodity Blog |
| Wheat Gains as USA Suffer from Drought Posted: 06 Dec 2012 03:00 PM PST Wheat was up today on fears that drought in the United States will hurt winter crops. Kansas, Oklahoma and Texas received almost no rain in November, according to the data of National Weather Service. Forecasts promise that precipitation will miss the Great Plains. Gains were limited amid the negative market sentiment. News from Europe was not particularly good. Fears of the US fiscal cliff add to pessimism of traders. [...] |
| Europe Overshadows Demand from China, Copper Weakens Posted: 06 Dec 2012 11:32 AM PST Copper prices declined today in New York on bad news from Europe. The revised report confirmed that the economy of the eurozone declined 0.1 percent in the third quarter of this year. The European Central Bank revised its growth forecast for the next year to a recession by 0.3 percent from the previous prediction of 0.5 percent growth. All in all, today’s news hurt the outlook for Europe’s economy that previously has been fairly optimistic [...] |
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