• 254 days Will The ECB Continue To Hike Rates?
  • 254 days Forbes: Aramco Remains Largest Company In The Middle East
  • 256 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 655 days Could Crypto Overtake Traditional Investment?
  • 660 days Americans Still Quitting Jobs At Record Pace
  • 662 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 665 days Is The Dollar Too Strong?
  • 665 days Big Tech Disappoints Investors on Earnings Calls
  • 666 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 668 days China Is Quietly Trying To Distance Itself From Russia
  • 668 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 672 days Crypto Investors Won Big In 2021
  • 672 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 673 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 676 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 676 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 679 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 680 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 680 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 682 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Commodity Market Summary

April 8, 2008


Soybeans fell for the second straight session, with the May contract settling 3 1/2 cents lower at $12.51 1/2 a bushel. Favorable planting conditions in the U.S. Midwest, and consolidation in front of Wednesday's supply and demand report were noted for today's modest decline.

Wheat closed 1.4-percent higher with the May contract gaining 12 3/4 cents to settle at $9.34 a bushel. Wheat rebounded from yesterday's 5.7-percent decline on news that Pakistan will produce less wheat than forecasted due to high fertilizer costs.

Rice futures slid limit-down early in the session, with the May contract settling 52 cents lower at $20.48 per hundredweight. Profit-taking after export bans, and tight global supplies pushed the market to a record high Monday.

May corn settled 1 1/4 cent higher $5.91 1/4 a bushel, May soymeal settled $.20 lower at $329.80 per short ton, and May soyoil settled 13 points lower at 55.84 cents a pound.


Cotton fell over 1-percent with the May contract settling 86 points lower at 71.94 cents a pound. Positioning in front of Wednesday's crop report was noted for today's modest decline.

May coffee settled 40 points lower at $1.3320 a pound, May orange juice lost 10 points to settle at $1.1765 a pound, May sugar settled 24 points lower at 11.88 cents a pound, and May cocoa settled $27 lower at $2,288 a metric ton.


Pork bellies settled higher for the fifth straight session, with the May contract gaining .925 cents higher at 73.975 cents a pound. Stronger cash prices and speculation that the falling U.S. dollar will spark additional overseas demand added to the bullish sentiment.

The USDA's mid-day boxed-beef wire today reported choice cuts gained 1.10 cents a pound and select items gained 1.24 cents.

April lean hogs settled .25 cents higher at 59.15 cents a pound, April live cattle settled unchanged at 87.87 cents a pound, and April feeder cattle settled .57 cents higher at 99.57 cents.


Gold closed lower for the first time in a week, with the June contract settling $8.80 to $918 an ounce. Today's strength in the U.S. dollar and speculation that it may continue reduces the appeal of precious metals as a hedge against inflation.

Copper declined the most in nearly three-weeks with the May contract settling 8.9 cents lower at $3.8905 a pound. Increasing concerns that the U.S. slow down will decrease demand for copper that is used in wires and pipes for construction.

May silver settled 41.2 cents lower at $17.708 per ounce July platinum fell $17.30 to $2,029.60 an ounce and June palladium settled 25 cents lower at $457.40 an ounce.


Crude oil fell from near record levels, with the may contract settling 59 cents lower at $108.50 a barrel. The Energy Department said today that they expect summer gasoline demand to fall for the first time in 17 years; this news sent the market modestly lower on the session.

May RBOB gasoline settled 3.31 cents lower at $2.7504 a gallon, May heating oil settled 2.59 cents higher at $3.1102 a gallon and May natural gas settled 9.4 cents lower at $9.697 a million British thermal units.


Back to homepage

Leave a comment

Leave a comment