Tue, May 24, 5:04 AM
- The strongest El Nino in nearly 20 years has ended, according to the Australian Bureau of Meteorology, as sea surface temperatures across the Pacific Ocean cool to their neutral levels.
- The dreaded El Nino led to damaged crop production (such as wheat, palm oil and rice) due to scorching weather across Asia and east Africa, and heavy rains and floods in South America.
- ETFs: DBA, CORN, JO, JJG, WEAT, RJA, SOYB, SGG, COW, NIB, CAFE, BAL, CHOC, DAG, CANE, JJA, GRU, AGA, SGAR, USAG, AGF, WEET, FUD, TAGS, CTNN, UAG, DIRT, UBC, ADZ, JJS, LSTK, GRWN
Apr. 29, 2014, 7:15 PM
- U.S. government forecasters predict a more than 65% chance for an El Niño weather phenomenon by the end of the year, a development that threatens to drive up prices for food and other staples.
- El Niño has a reputation for triggering sharp run-ups for prices in markets as diverse as nickel, coffee and soybeans, and commodities investors, traders and analysts are bracing for impact at a time when global supplies of many raw materials already are stretched.
- Global food prices - which at the start of 2014 were expected to be largely flat this year - could easily climb 15% to record highs in as a little as three months after an El Niño occurs, says World Bank economist James Baffes.
- But Société Générale analysts say it is miners, not farmers, who have the most to worry about; since 1991, nickel prices rose the most (13.9%) during El Niño years among commodities the bank tracks.
- ETFs: DBA, CORN, DBC, JO, JJC, RJA, JJG, WEAT, SOYB, DJP, SGG, DBB, COW, NIB, GSG, RJI, CAFE, BAL, GCC, DAG, USCI, JJA, GRU, CHOC, CANE, JJN, RGRA, AGA, JJT, RGRC, CPER, AGF, GSP, BOM, RJZ, JJU, GSC, LSC, FUD, DJCI, USAG, BOS, SGAR, JJM, DEE, BDD, UCI, LD, WEET, UAG, DYY, DIRT, BCM, CMD, DDP, NINI, JJS, CTNN, TAGS, UBC, CUPM, FOIL, UCD, ADZ, RGRI, LEDD, UBM, CMDT, BDG, SBV, USMI, DPU, LSTK, CSCB, GRWN, HEVY, CSCR
Jun. 15, 2012, 5:43 AMChina, the world's largest cotton user, is reportedly looking to buy 1M metric tons of cotton from the U.S. to boost government stockpiles. Sources say 160K tons have been bought since last week. "The Chinese government has become the most important factor in global demand and supply," says analyst Dong Shuangwei, even as "the fundamentals still paint a rather gloomy picture." Cotton futures +2.43%. | Jun. 15, 2012, 5:43 AM | 2 Comments
Mar. 11, 2012, 8:50 AM
India decides to kill a one-week old cotton export ban following protests from farmers and traders. The move will allow growers to get a market price for their product instead of being corralled into selling domestically for less. The ban had led to a spike in cotton prices, which has since reversed.| Mar. 11, 2012, 8:50 AM | 3 Comments
Mar. 6, 2012, 11:04 AM
Mar. 5, 2012, 11:32 AM
India banned cotton exports to ensure supplies for local mills, having already exported 9.4M bales and passed its quota. U.S. producers could benefit, although VIP Commodities says the country is "almost out of cotton." Opinion is split over whether the ban will force prices higher still or whether weak demand at mills will cap them.| Mar. 5, 2012, 11:32 AM
Mar. 5, 2012, 6:49 AM
India, the world's No. 2 producer of cotton, bans all cotton exports, effective immediately. No explanation of the embargo has been offered. Cotton futures jump 4.5% to $0.92.| Mar. 5, 2012, 6:49 AM | 5 Comments
See more details on sponsor's website