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

Indian investors interested in denim production in Vietnam

Textiles | On 16th Aug 2018

Indian investors interested in denim production in Vietnam

Indian fabric firms are shifting attention from China to Vietnam,...

Pak ministry invests in training textile sector workers

Textiles | On 16th Aug 2018

Pak ministry invests in training textile sector workers

Pakistan’s ministry of commerce and textile industry is offering...

India's textiles, apparel exports fall by ₹8000 cr: Govt

Apparel/Garments | On 16th Aug 2018

India's textiles, apparel exports fall by ₹8000 cr: Govt

India’s textiles and apparel exports dropped by nearly ₹8,000 crore...

Interviews View All

Angelina Francesca Cheang
MY ANJE

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

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kevin Nelson
TissueGen

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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


August 2018

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

news category


Related Categories:

Advanced Search