Home / Knowledge / News / Textiles / Strong gold & crude oil thrust CRB index high
Strong gold & crude oil thrust CRB index high
01
Mar '08
NY futures continued their ascent this week, with May rallying 437 points to close at 79.33 cents and December gaining 383 points to close at 84.77 cents.

The relentless surge of the commodity complex continued this week, as the CRB index raced to a new record high of 413.45, up 4.2 percent on the week and up around 35 percent year-on-year. The charge was led by gold and crude oil, which advanced to 970 dollars and 102 dollars a barrel, respectively. But one would be hard pressed to find any commodity that was down this week and Ag commodities in particular seem to enjoy a lot of favor among investors and speculators, with December corn closing at a record 5.59 dollars a bushel, while November soybeans rallied to 14.17 dollars a bushel today, just slightly shy of their record of 14.26 dollars a bushel.

The wheat market had its most volatile week ever, as its daily range exceeded 20 percent yesterday with volatility readings of around 50 percent. May wheat in Chicago closed at 11.97 dollars a bushel today after posting a record high close of 12.45 dollars yesterday, while December wheat ended the day at 10.83 dollars a bushel.

The wheat market is particularly interesting because it serves as a case study for the current disconnect that exists between the cash and the futures markets and it highlights the dangers that loom for the cotton market. The influx of speculative money has led to a massive short squeeze of commercial hedgers, which were eventually forced out of their short positions over the last few months and are now either unable or unwilling to take on new shorts.

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search