Three big commodities that have suffered hits due to varying influences all had their prices rally at the end of last week.
Cotton, a victim of poor weather conditions damaging the plant’s harvest season, could possibly be in limited supply this year, while global demand has surged. After a two day decline, prices have risen to their highest level since the Civil War prevented shipments, according to Spencer Patton of Steel Vine Investments, LLC. Prices for cotton slated to be delivered in December have risen to $1.2526/lb, hitting a high this week of $1.305/lb.
Coffee, while not due to weather, has also experienced supply difficulties. December deliveries rose 3.5% to settle at $2.0345/lb. This is because of backups in Brazil, as exporters are occupied shipping sugar.
Sugar has rallied to its highest price in nearly 29 years, and countries are attempting to lock in orders. Prices of the crop rose to highs over the summer during a period of supply worries, before falling when concerns subsided. Sugar slated for March delivery settled at 29.12 cents/lb, nearly double since May, but nearly the same price hit in late January.
Elsewhere in agriculture, grain and bean prices have been mixed. Wheat slated for December fell a cent to $7.1725 per bushel, while corn rose to settle at $5.8200 per bushel. Soybeans slated for January were stable, and stayed at $12.36 per bushel.
Other commodities have seen fluctuating prices as well: metals are climbing higher, with gold rising $15.10, silver rising 68.9 cents, and copper declining 5.4 cents.
About QualityStocks:
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://Gotstocks.QualityStocks.net
Please see disclaimer on QualityStocks website: http://disclaimer.qualitystocks.net
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment