Equities and commodities rallied after the European Central Bank unexpectedly cut interest rates and the region’s leaders increased pressure on Greece to accept a bailout. The Standard & Poor’s GSCI Index of 24 raw materials headed for a second straight gain, led by wheat, soybeans and gold. The index fell on Nov. 1 to the lowest in more than a week.
“A lot of the bad news has already been factored into prices after the declines we’ve seen recently, and so it takes only a little bit of good news to get people buying again,” Michael Smith, the president of T&K Futures & Options in Port St. Lucie, Florida, said in a telephone interview. “You’re going to see a lot more fund money coming in.”
Arabica coffee for December delivery rose 1 percent to $2.2615 a pound at 10:56 a.m. on ICE Futures U.S. in New York. A close at that price would mark the biggest gain since Oct. 24. The commodity fell 21 percent from the end of August through last month.
Raw-sugar futures for March delivery advanced 1 percent to 25.68 cents a pound in New York, heading for the biggest gain since Oct. 27. Before today, prices fell 1.4 percent this month.
Sugar shipments to China, the world’s second-largest consumer, may be higher than analysts forecast, according to Newedge Group, the largest U.S. sugar-futures broker. While most analysts estimate imports for the 2011-2012 marketing year at about 2.5 million tons, a rate of import growth similar to the past two years would boost the figure to 2.97 million, Michael McDougall, a senior vice president at New York-based Newedge, said in a report. For the latest updates PRESS CTR + D or visit Stock Market news Today
Related Post:
coffee
- Coffee, cocoa prices today july 27 2012
- Coffee, Cocoa, Sugar Futures Prices july 25, 2012
- Coffee futures prices outlook february 27 2012
- GMCR stock sell or buy feb 27 2012
- GMCR stock, earning forecast 2012
- best indonesia kopi luwak
- Green Mountain Coffee stock prices outlook weekly nov 7 2011
- Colombia Coffee stockpiles forecast 2012
- Starbucks Corp fourth-quarter profit 2011
- Cocoa futures prices today nov 3 2011
- Coffee Holding shares prices today september 13 2011
- Coffee Holding (JVA) Stock prices Down July 27 2011
- World coffee exports in April 2010 - March 2011
- coffee prices may 6 2011, Coffee prices heating up
- Vietnam coffee export predictions for 2011
- The prices of arabica coffee, gold and silver in Colombian commodities Market April 27 2011
- coffee prices Trading Forecast for april 26 2011
- Cocoa futures Prices Forecast impact Ivory Coast's political climate
- benefits of women dringking coffee - by American Heart Association's journal
- global cocoa industry increasing concern over the violence in Ivory Coast
- Starbucks Tribute Badge Official Rules
- Starbucks Awarding Foursquare Checkins Today
- Colombia Coffee production forecast 2011
- India Coffee Exports period January-March 2011
No comments:
Post a Comment