Desert locust infestations are set to worsen along the Red Sea as a second generation of the pest insects breeds in Yemen and Sudan through January, the United Nations’ Food & Agriculture Organization said.
Lead tops picks among metals, Tiberius Group says in e-mailed report. * Palladium also seen providing “above-average performance” on auto-demand growth and South Africa labour disruptions * Platinum also seen managing “above-average performance” * Zinc likely “outperformer” on flattening mine output * Precious metals prices seen “drifting lower” until recovering by yr-end * Corn, sugar only likely candidates for “positive, albeit limited performance” * Soybeans, cotton regarded as “strong sells” * Crude oil market seen well supplied on higher output by Libya, Iran, North America
KKR & Co., the private-equity firm run by Henry Kravis and George Roberts, together with Castleton Commodities International LLC bid for JPMorgan Chase & Co.’s physical commodities unit, SparkSpread reported today without saying where it got the information.
Buyers of raw sugar from Brazil, the world’s top producer, are getting a bigger discount for their sweetener as harvesting advances and competition with India’s exports increases, according to Swiss Sugar Brokers.
Gold, shown by a technical indicator to be in a bearish trend the past month, fell below a Fibonacci level that suggests prices may decline to this year’s low of $1,180.50 an ounce, according to analysis by Commerzbank AG.
Gold analysts are bearish for a second week as prices head for the biggest monthly drop since June and approach this year’s low on speculation the Federal Reserve will curb stimulus as the economy strengthens.
Soybean prices, which outperformed other crops including corn and wheat this year, may fall in the next six months as global production rises to a record, said Thomas Mielke, the executive director of researcher Oil World.
Robusta coffee rebounded in London, reaching the highest level in more than six weeks, as investors sought to close out bets on falling prices amid declining exchange-monitored stockpiles. Cocoa advanced and sugar slid.