Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Wheat, Corn Rebound on Global Dry Weather: Commodities at Close

July 27 (Bloomberg) -- The Standard & Poor’s GSCI gauge of 24 commodities rose 1 percent to 641.77 at 4:30 p.m. New York time. The UBS Bloomberg CMCI index of 26 raw materials gained 1 percent to 1,558.245.


Wheat, corn and soybeans rose for the second time in three days as drought in the U.S. and Russia reduced global supplies.

Wheat futures for September delivery jumped 1.6 percent to settle at $8.98 a bushel on the Chicago Board of Trade. The gain pared this week’s decline to 4.8 percent, the first loss since mid-June. The grain is up 39 percent since the end of May.

Corn futures for December delivery rose 2.2 percent to $7.9325 a bushel in Chicago, boosting the advance since mid-June to 57 percent. The price was down 0.3 percent for the week, the first loss after five straight gains.

Soybean futures for November delivery gained 2.2 percent to $16.0175 a bushel on the CBOT. That pared this week’s decline to 5 percent, the first weekly drop in six. The most-active contract is up 22 percent since June 15.

U.S. grain markets: {NI GRMKTS <GO>}


Cocoa futures rose to a three-week high on signs of declining supplies from Ivory Coast, the world’s top producer. Cotton, sugar and orange juice also advanced, while Arabica coffee slid.

Cocoa for September delivery climbed 0.6 percent to settle at $2,330 a metric ton on ICE Futures U.S. in New York after reaching $2,352, the highest level for a most-active contract since July 5. The price gained 4.5 percent this week, the most in a month.

Cotton futures for December delivery advanced 0.1 percent to 71.45 cents a pound in New York. The fiber has tumbled 22 percent this year.

Raw-sugar futures for October delivery rose 0.1 percent to 22.52 cents a pound, paring this week’s drop to 5.9 percent.

Orange-juice futures for September delivery gained 0.1 percent to $1.1005 a pound on ICE.

Also in New York, arabica-coffee futures for September delivery lost 0.2 percent to $1.737 a pound. Prices slumped 7.1 percent this week, the most since early March.

Soft commodities markets: {NI SOMKTS <GO>}


Cattle prices climbed to the highest level since March on signs of declining U.S. beef supplies. Hog futures dropped.

Cattle futures for October delivery advanced 1.7 percent to close at $1.25275 a pound on the Chicago Mercantile Exchange after reaching $1.257, the highest level for a most-active contract since March 8.

Feeder-cattle futures for August settlement rose 1.3 percent to $1.3775 a pound. Earlier, the price rose by the 3-cent exchange limit to $1.39, the highest since July 20.

Hog futures for October settlement fell 0.1 percent to settle at 81.325 cents a pound on the CME after reaching 82.2 cents, the highest since July 11.

Livestock markets: {NI LVMKTS <GO>}


Oil rose for a fourth day on speculation that the European Central Bank and the U.S. Federal Reserve will ease monetary policy to boost economic growth and curb the debt crisis.

Oil for September delivery climbed 74 cents to settle at $90.13 a barrel on the New York Mercantile Exchange. Prices have risen 16 percent since June 28 and fell 1.4 percent this week.

Brent crude for September settlement gained $1.21, or 1.2 percent, to end the session at a one-week high of $106.47 a barrel on the London-based ICE Futures Europe exchange.

Crude markets: {NI CRMKTS <GO>}


Gasoline rose the most in three weeks on speculation that central banks will take economic stimulus measures and as the U.S. economy grew more than forecast in the second quarter.

Gasoline for August delivery rose 7.4 cents, or 2.6 percent, to settle at $2.8878 a gallon on the Nymex, paring the weekly loss to 1.9 percent. The more actively traded September contract gained 5.97 cents, or 2.2 percent, to $2.7967.

Heating oil for August delivery rose 2.1 cents, or 0.7 percent, to $2.8895 a gallon. Prices fell 1.2 percent this week. The September contract advanced 2.11 cents to $2.8905.

U.S. oil products: {NI OPFMKT <GO>}


Natural gas futures in New York capped their first weekly decline in three weeks on forecasts for milder weather that may limit demand for the fuel to produce electricity.

Gas for August delivery fell 9.5 cents to settle at $3.01 per million British thermal units on the Nymex. The futures dropped 2.3 percent this week.

The August contract expires today. The more actively-traded September futures fell 7.5 cents to $3.015 per million Btu.

U.S. natural gas market: {NI NUSMKT <GO>}


Gold futures rose to a five-week high on speculation that central banks will add to stimulus programs in an effort to spur faltering economies.

Futures for December delivery rose 0.2 percent to settle at $1,622.70 an ounce on the Comex in New York. Earlier, the price reached $1,633.30, the highest level for a most-active contract since June 19.

Silver futures for September delivery gained 0.2 percent to $27.498 an ounce.

On the Nymex, platinum futures for October delivery climbed 0.2 percent to $1,408.20 an ounce. Palladium futures for September delivery increased 0.3 percent to $571.85 an ounce.

Precious metal markets: {NI PCMKTS <GO>}


Copper rose, capping the longest rally in five weeks, on prospects for improved demand amid speculation that U.S. and European policy makers will expand stimulus programs.

Copper futures for September delivery climbed 1 percent to settle at $3.426 a pound on the Comex in New York. The metal rose for the third straight day, the longest rally since mid-June. This week, the price dropped 0.6 percent.

On the London Metal Exchange, copper for delivery in three months rose 1.3 percent to $7,565 a metric ton ($3.43 a pound).

Aluminum, nickel, lead, tin and zinc also advanced in London.

Base metal markets: {NI BMMKTS <GO>}

To contact the reporter on this story: Paul Burkhardt in New York at

To contact the editor responsible for this story: Dan Stets at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.