Thursday, January 08th, 2009

Hot Topics : Hard Assets to Soar in 2009 | Bailouts to Boost Asian Markets | Treasury Bond Short Too Obvious? | Resource Scarcity Ahead

Wheat and Soy Prices Plunge

Mar 31st, 2008 | By Contrarian Profits | Category: Featured, Financial News, Gold Market

The commodities boom took a serious knock today following a report from the US Agricultural Department.

The report revealed that farmers expect to plant 18% more soybeans and 5.5% more wheat this year.

According to BusinessWeek, “soybeans for May delivery dropped 70 cents to $11.9725 a bushel on the Chicago Board of Trade, its lowest level in three months. Wheat fell to a two-month low, losing 60 cents to $9.29 a bushel on the CBOT.”

 

Corn prices rose, however, adding 9.25 cents to $5.6975 a bushel on the CBOT after the report revealed that farmers intend to to plant 8% less corn.

 

Another commodity set to rise is copper, at least according to top commodities fund manager Frank Holmes.

 

Frank expects copper – which has gained 400% in the past five years and now sells for $3.75 per pound – to hit $8 to $10 in the coming years.

 

To find out more, click here.

 

 


AdvertisementSarb-Ox Panic Hands Investors 7 Times Their Money

Why would a CEO voluntarily sell valuable assets at bargain basement prices? Why would a CEO do anything to "cause" investors to dump his company's stock ...artificially? Answer: to avoid jail time and huge fines. Fortunately, Horacio Marquez has found a way to use one CEO's fear of Sarb-Ox penalties to increase your money 7 times this year.
Read Report



More on this topic (What's this?)
Crop Production Will Shift in 2008
Soybeans Lock Limit Down on March 31 USDA crop report
Inflation Deflation Chaotic Mix
Read more on Soybean Prices, Wheat Prices at Wikinvest
Tags: , , ,

By Contrarian Profits

Related Articles