Saturday , November 27 2021
Home / Commodity Blog

Commodity Blog

Commodities Corner: Lean Hogs Rally to Record High, Coffee Slips on Suez Canal Relief

Spilling a Cup of Cocoa   Cocoa futures ended the trading week below $2,400 per metric ton as demand concerns weighed on the agricultural commodity. Contracts are settling near their lowest levels since the beginning of November.   Cocoa’s direction is being mostly driven by the resurgence of coronavirus infections across Europe, a major market for the crop. As COVID-19 cases skyrocket, many jurisdictions are...

Read More »

Bitcoin Edging Toward $60K: Why Is the Coin Teasing?

At 11:10 GMT on Saturday, BItcoin traded at $59,785, a loss of 0.2% in the last 24 hours. As the price of the king cryptocurrency corrects, the coin continues to trade extremely close to $60k. In the past few days, Bitcoin has been able to fully recover from a fall to $52,000 toward the end of March. As this goes on, data from Santiment indicates that recent transactions from Bitcoin...

Read More »

Commodities Week in Review: March 29 to April 2

Commodities Week in Review: March 29 to April 2 Agriculture  The biggest story this week in the agricultural commodities market was the US Department of Agriculture’s (USDA) 2021 Prospective Plantings report that sent prices soaring. The USDA stated the domestic farmers will plant lower soybean and corn acreage than what market analysts had initially anticipated. This triggered a massive rally on Wednesday, hitting a daily...

Read More »

JPMorgan Sees Institutional Opportunity Due to Falling Bitcoin Volatility

A drop in volatility in Bitcoin (BTC) can have a good effect on attracting large players. At least analysts of the American bank JPMorgan think so, writes Bloomberg. According to experts, the recent decrease in cryptocurrency volatility creates conditions for the arrival of institutional investors. JPMorgan said: We believe that a potential normalization of bitcoin volatility is likely to help revive...

Read More »

Bitcoin Hits $60K, Edges Closer to Breakout

On Friday, Bitcoin briefly hit $60,000 and surged above the psychological hurdle. This is the fourth time the coin is retesting $60k in a slow grind back to its all-time high of $61,000. TradingView showed bullish tendencies remaining overnight for the BTC/USD pair. A correction below $60k pushed the king cryptocurrency back to $59,000. At 11:19 GMT on Friday, the coin was exchanging hands at $59,810, only about $200 away from $60,000...

Read More »

As the Second Quarter Begins, Bitcoin Is in Its Best Year Yet

As the second quarter begins, Bitcoin price is looking at its strongest three-month gain than any quarter since 2013. With a 103% gain in the first 3 months of 2021, the coin looks primed for more. Typically, March has been a bad month historically for Bitcoin. However, the king cryptocurrency saw a  massive increase of nearly 30% over the month is strong evidence that this year is different. Moreover, it was during this year that Bitcoin tested an all-time high of $61,000, a record high...

Read More »

Crude Holds onto 3% Rally As OPEC to Raise Oil Production in May

Crude oil futures maintained their gains on Thursday, despite the Organization of the Petroleum Exporting Countries (OPEC) announcing that it would gradually raise production in May. But while most industry observers expected the cartel to maintain an output freeze, prices continued rallying with expectations that the sector would remain tight. May West Texas Intermediate (WTI) crude futures surged $1.77, or 2.99%, to $60.93 per barrel...

Read More »

Natural Gas Rallies 1% on Lower-than-Expected Supply Build

Natural gas futures picked up some gains to kick off April, buoyed by a bullish US government weekly supply report. Natural gas investors will take anything they can get as demand is projected to be limited this month amid warmer temperatures and industrial spring maintenance. While the bears seem to be in control of the market, bulls have been attempting to take over. May natural gas futures surged $0.046, or 1.76%,...

Read More »

Bitcoin Price Crash Paused by Goldman Sachs Entry into the Market

Bitcoin fell over $2,000 on Wednesday. The price fell from $59,400 to nearly $57,000 in just five minutes of trading. At 17:39 on Wednesday, the coin was exchanging hands at $59,122, a gain of 0.63% over the last 24 hours. Market analysts have blamed the quick fall on overleveraged long positions. The plunge liquidated about $600 million worth of extended bullish contracts across major futures exchanges. After the fall, Bitcoin maintained a short-term price floor...

Read More »

US Crude Tops $61 on Surprise Oil Supply Build, Investors Brace for OPEC Meeting

Crude oil futures climbed above $61 in the middle of the trading week as the energy commodity found support on a bullish US government supply report. US crude prices have been struggling this month, poised to record a minuscule monthly loss. With crude contracts experiencing a correction in recent weeks, can April act as a catalyst for a renewed rally? May West Texas Intermediate (WTI) crude futures surged $0.56,...

Read More »