Corn futures traded in a narrow range

Corn futures for July delivery traded at 6.5663 USD a bushel, down 0.6% on the day. The July contract traded in a narrow range between 6.5663 USD a bushel, the daily low and a session high of 6.6063 USD a bushel. Corn traders keep monitoring weather conditions across major grain-growing regions in the US due to concerns over US crop prospects. The USDA reported this Monday that 91% of the US corn crop was planted as of June 2, below the five-year average of 95% for this time of year. US grain futures traded lower on Thursday, with the front-month soybean contract drawing back from the...

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Crude oil futures hit one week high

Crude oil futures traded high today and hit a one week high on Wednesday, as US government report displayed oil supplies lost gains significantly more than analysts expected last week. On the New York Mercantile Exchange, light sweet crude futures for June delivery traded at 94.40 USD a barrel, up 1.2% on the day. New York oil prices grew by 1.5% earlier today and hit a session high of 94.47 USD a barrel, the highest level since May 29. The US is the world’s biggest oil consuming country, responsible for almost 22% of global oil demand. Before the release of the supply data report, prices...

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Natural gas futures dropped 2% after US energy report

Natural gas futures dropped to a five week low this Thursday, due to a report from the US Energy Information Administration which showed natural gas supplies increased more than expected last week. During US morning trade on the New York Mercantile Exchange, natural gas futures for June delivery traded at 3.909 USD per million British thermal units which is down 1.7% on the day. NYMEX natural gas prices dropped by 2.1% earlier in the trading session and hit a session low of 3.890 USD per million British thermal units. NYMEX gas prices have increased aggressively in recent weeks, adding about...

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Gold futures increased amid expectations for stimulus policies

Gold futures traded higher this Monday, as expectations for the Federal Reserve and the European Central Bank to continue their easy monetary stimulus policies continued to support sentiment. Gold futures may rise on such easy money environments because of expectations that large liquidity put a damper on the value of paper currencies. On the New York Mercantile Exchange Comex division, gold futures for June delivery traded at 1,470.95 USD a troy ounce, up 0.45% on the day. Comex gold prices traded in a rage between a daily high of 1,478.15 USD a troy ounce and a session low of 1,467.85 USD...

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Grain futures recover, Soybeans rise due to US export demand

US grain futures recovered strength this Thursday, with front month soybean prices rising amid improvement in demand for US supplies. On the Chicago Mercantile Exchange, soybeans futures for May delivery increased 1% and traded at 14.1813 a bushel. The May contract increased 1.15% earlier in the session and hit a session high of 14.1938 USD a bushel. Soybean prices recovered after the US Department of Agriculture announced that US farmers sold 116,000 tons to unknown buyers for delivery in the year starting September 1st. Market analysts typically interpret sales listings to unknown...

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Gold futures continue to add gains

US Gold prices stabilized this Wednesday after soft German business confidence data initiated a growing number of market traders to take up gold positions amid endorsing speculation that of a European Central Bank rate cut, which typically weaken paper currencies and make gold an attractive hedge. After official US data showed that durable goods orders dropped unexpectedly this March, while core orders dropped, enforcing concerns over the US economic outlook, gold futures continued to rise sharply, adding to high gains. Physical demand for the precious metal pushed prices further as well....

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