Monday April 22 Commodities Review

 

BASE METALS:

Copper dropped and could see its biggest loss in more than a week on concerns of slowing manufacture out of China.

July copper dropped 2.2% to $3.624 a pound.

 

CRUDE OIL

Crude oil has seen the biggest drop in two weeks on concerns from China and the Euro Zone.

June crude oil lost $1.67 to 102.221 a barrel on the Mercantile Exchange.  June Brent oil also slide on the data headlines to settle $094 lower to $117.82 a barrel on the London-based ICE exchange.

 

NATURAL GAS

Natural gas futures moved higher off near decade lows on continued forecast of snow and colder weather in the Northeast.  May natural gas ticked higher by $0.03 to $1.957 per million British thermal units on the Mercantile Exchange.

 

OIL PRODUCTS

Gasoline decline on a global economic concerns in the Euro Zone and U.S. economies.
May gasoline drop lower by $0.078 to $3.858 a gallon on the Mercantile Exchange.
May heating oil for delivery slid by $0.026 cents to $3.1116 a gallon.

 

LIVESTOCK

Supply caught up to cattle demand send U.S. beef lower while hogs climb.  June cattle contracts moved lower by 0.6% to $1.1475 per pound on the Chicago Mercantile Exchange.  June Hog contract climbed 0.4% to 87.725 cents a pound on the Mercantile.

August Feeder-cattle dropped by 0.8% to $1.54025 a pound on Chicago Mercantile Exchange.

 

PRECIOUS METALS

Gold hit a two week low as traders seek out alternatives to gold such as the dollar.  June gold contracts dropped  0.8% to $1,629.60 a troy ounce. Gold settled since April 5.

May Silver slide lower by 3.1% to $30.63 a troy ounce.

 

GRAINS and OILSEEDS

Corn futures climbed on speculation that China will be import more corn to in order to feed the increase in hog production.

For the second day in a row soybean rose on signs of smaller harvests in S. America that can leads to increased demand for supplies from the U.S., the world’s biggest exporter as corn declined.
July wheat contracts jumped 1.2% to $6.3075 a bushel.
Corn moved higher by 1.0% to $6.0875 a bushel.