Commodity Blog

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Macroeconomic Data Points at Lower Demand for Crude Oil Posted: 04 Mar 2013 12:06 PM PST Crude oil fell today as unfavorable macroeconomic report from China spurred concerns that growth of the second-biggest world economy is slowing. China’s non-manufacturing Purchasing Managers’ Index fell from 56.2 in January to 54.5 in February. The index still indicates at expansion, standing above the neutral 50.0 level. Yet the slowdown of expansion is still worrying. The International Energy Agency cut its forecast for oil demand in 2013. Signs of slower [...]

Cocoa Falls as Rains Boost Supply from Ivory Coast Posted: 04 Mar 2013 08:56 AM PST Cocoa fell today on expectations of growing supply from the African continent. Ivory Coast, the biggest producer of the agricultural commodity in the world, is expected to make especially large contribution to global stockpiles. The US National Oceanic and Atmospheric Administration predicted that Ivory Coast and Ghana (the second biggest grower) will receive about 40 to 50 millimeters of precipitation by the next week. Rains should help crops. World inventories had a surplus of the beans [...]

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