Euro Approaching 3-Month High… Oil & Gold Rising With It
Jon OggThe Euro is not just back above $1.25 in mid-day trading after the European stock markets have closed for the day… It is approaching $1.26 and the implied market chatter (which we call…
Commodities & Metals
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Newest first · Page 81China Boosts Rare Earths Exports (MCP, AVL, REE, REMX)
China’s ministry of commerce raised its rare earth minerals export quotas for 2012 to nearly 31,000 tons yesterday, up from just over the previous limit of just over 30,000 tons. The increase comes despite…
U.S. Drought to Send Beef Prices Soaring (RRGB, WEN, MCD, RUTH, TSN, PPC, SFD)
The first official warning of food price increases due to the U.S. drought came last month, when the U.S. Department of Agriculture forecast an increase of 2.5% to 3.5% for food consumed at home…
Soybeans Soar on Fears of Small Crop
The drought that has put a severe dent in the US corn crop is now threatening to do the same kind of damage to the soybean crop. Corn, which is planted and harvested earlier…
Corn Harvest Picks Up Steam
Farmers are bringing in corn harvests as fast as possible. The trend will not help overall supply, except in the early part of the season. The shift in harvest time, therefore, will not undercut…
Silver Wheaton’s Founders List Gold Royalty Company on NYSE (SAND, SLW)
Listing shares on the NYSE may sound a bit like an initial public offering. Today’s news is only half way there for a small gold mining capital financing player which has been public in…
African Platinum Miners Killed by Police (SWC)
South African authorities said that 34 “protesters” at a platinum mine were killed after police opened fire on the striking workers. The mine is owned by London-listed Lonmin PLC, the world’s third-largest producer of…
Drought Expansion Slowed in August
The US Drought Monitor has noted a significant expansion of the drought in the lower 48 states has finally stopped. The agency said that about a quarter of the country continues to experience drought…
Molycorp Raising Cash
Molycorp Inc. (NYSE: MCP) has announced that it intends to offer and sell $300 million aggregate principal amount of convertible senior notes due in 2017 and $150 million of its common stock. The offerings…
Gold Demand Drops in Q2 (GLD, IAU, GDX, GDXJ)
Compared with the second quarter of 2011, demand for gold fell 7% by a total of nearly 76 metric tons, to 990 metric tons, in the second quarter of 2012, according to the World…
Drought-tolerant Corn Being Tested in US (MON, DD)
The most severe US drought in more than 50 years is shining a light on new developments in corn seeds that are sure to stir more debate both domestically and overseas about the use…
Molycorp Draws S&P Downgrade
Molycorp Inc. (NYSE: MCP) was supposed to be fully funded and almost fully booked for its capacity. You would never know it if you just looked at the tape. Now we have some additional…
El Niño Weather Pattern Continues Developing (CORN, SOYB, DBA)
The US Climate Prediction Center continues to forecast the formation of an El Niño weather pattern in the eastern Pacific Ocean in August and September, and now Japanese forecasters have added their voice to…
Crop Forecasts Slashed Again (CORN, SOYB)
The U.S. Department of Agriculture now estimates that the U.S. corn crop will fall 2.2 billion bushels lower than the estimate provided just a month ago, to 10.8 billion bushels, the lowest since the…
The Food Shortage — One More Thing America Cannot Do
The deep recession and the lack of any meaningful recovery has sliced into the American attitude that citizens and the government can do anything they set their minds to, if only they work hard…