Tuesday April 24 Commodities Review

 

BASE METALS:

Copper ticked up for the second day out of three as housing reports shows the sector is mending albeit slowly.

July copper climbed 1.1% to $3.6755 a pound.

 

CRUDE OIL

Crude oil climbed on the same housing reports showed a glimmer of optimism.

June crude oil moved up $0.71 to 103.82 a barrel on the Mercantile Exchange. June Brent oil, however, slide on continued concerns in the Euro Zone and settle down $0.16 lower to $118.55 a barrel on the London-based ICE exchange.

 

NATURAL GAS

Natural gas futures slide by $0.032 to $1.975 per million British thermal units on the Mercantile Exchange.

 

OIL PRODUCTS

Gasoline decline on a easing surrounding the Northeastern supplies during the driving season.
May gasoline drop lower by $0.038 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

Cattle contracts recovered from a 7 month low on signs of increasing demand for U.S. beef. Hog prices were little changed. . June cattle contracts ticked higher by 0.1% to $1.147 per pound on the Chicago Mercantile Exchange. June Hog contract climbed 0.2% to 87.95 cents a pound on the Mercantile.

August Feeder-cattle dropped by 0.2% to $1.5395 a pound on Chicago Mercantile Exchange.

 

PRECIOUS METALS

Gold climb higher for the 4th straight session as the dollar moved lower and ahead of the FOMC conclusion tomorrow.  June gold contracts climbed 0.9% to $1,647.80 a troy ounce.

May Silver climbed along for the ride higher by 1.7% to $31.12 a troy ounce.

 

GRAINS and OILSEEDS

Corn futures climbed for second day now on speculation that China will be import more corn to in order to feed the increase in hog production. Corn moved higher by 0.7% to $6.1675 a bushel.

Soybeans continue to climb by 0.9%  to $14.5375 a bushel 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 1.7% to $6.435 a bushel.