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

UNIDO, eWTP discuss strengthening ties to back e-commmerce

Textiles | On 25th Apr 2018

UNIDO, eWTP discuss strengthening ties to back e-commmerce

United Nations Industrial Development Organisation director general...

Courtesy: HueTrap

Apparel/Garments | On 25th Apr 2018

Making sustainability affordable is a big challenge

In a lot of instances, being sustainable comes with an additional...

Courtesy: Formosa Petrochemical Corporation

Textiles | On 25th Apr 2018

Formosa to set up petrochemical plant in Louisiana

Formosa Petrochemical Corporation has selected St. James Parish in...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

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

Kevin Nelson
TissueGen

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

Leave your Comments


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search