By Jason Simpkins Associate Editor Oil retreated again yesterday (Tuesday) on mounting recession fears while gold bounced back from a three-week low on as the Federal Reserve slashed interest rates by 75 basis points. After falling as low as $86.11 in early morning trading, light sweet crude for February delivery settled at $89.85 a barrel […]
Category
Commodities
Archer Daniels Midland Oilseed Harvest Reaps Big Rewards
By Jason Simpkins Associate Editor Soaring sales in its oilseeds businesses helped Archer Daniels Midland Co. (ADM) overcome fiscal-first-quarter sluggishness in its traditionally strong ethanol business, enabling the worldwide-food-processing powerhouse to surprise Wall Street. The Decatur, Ill.-based ADM saw its shares soar Tuesday after reporting that profits for the quarter ended Sept. 30 were $441 […]
The One Russian Emerging Market With the Most Profit Promise
By Martin Hutchinson Director of Global Investing Research Readers may well have missed the news that Ukraine is currently putting together a new coalition government led by reformist Julia Tymoshenko. “So what?” you may ask. “I can’t know everything. And besides, how do you ever expect me to make a buck out of Ukrainian politics, […]
Gold, Platinum Hit Highs Against Falling Dollar
From Staff Reports Gold hit a 28-year high yesterday (Monday), on the back of rising energy costs and a falling U.S. dollar. Gold futures for December rose 1.3% (or $9.80) to $763.60 an ounce on the New York Mercantile Exchange. The most closely watched of the precious metals is up 20% this year, and is […]
Jim Rogers Warns of Fallout From Fed Cuts; Says to Seek Profits in Commodities, Asian Currencies
By William Patalon III, MBA Managing Editor Money Morning/The Money Map Report It was definitely a 'Tale of Two Markets' yesterday. And despite that phrase's similarity to the Dickensian classic novel, it wasn't legendary author Charles Dickens who was dominating my thoughts as the market closed yesterday (Monday). It was legendary Contrarian investor Jim Rogers. […]
Wheat's Forecasted Price Drop Highlights Profit Plays in Commodities
By Mike Caggeso Staff Writer The doubling of wheat's price in the past year – combined with recent forecasts for price declines – have turned wheat's wholesome image into a volatile one. And depending on where you live, you'll hear a different story. In Australia, the world's second-largest wheat exporter, droughts have cramped the yearly […]
Gold Climbs to 27 Year High, Oil Eclipses the $83 Level
By William Patalon III And Jason Simpkins Money Morning Gold prices rallied to their highest level in 27 years Friday, fueled by the continued decline of the U.S. dollar. Meanwhile, crude oil surrendered early price gains, but still managed to stay above the $82 level. Friday marked the close of a quarter that saw pricing […]
The New Cold War: How Russia Has Turned Its Energy Exports Into Weapons of Diplomacy
By Jason Simpkins Last week, (July 20) Chevron Corp. said it would challenge a $290 million back tax claim issued against the Caspian Pipeline Consortium by Russia’s Federal Tax Service. This is yet another attempt by President Vladimir Putin to seize control over all aspects of energy production and transportation within Russia. The Caspian Pipeline […]
Analysts Wondering About Alcoa's Next Move
From Staff Reports Just what motivated Alcoa Inc (AA) to dump its stake in China's biggest aluminum company this week is not clear, but the $1.8 billion cash infusion should appease suffering stockholders while giving the aluminum giant maneuvering room. It’s only been a few months since Alcoa's hostile attempt to buy Canadian rival Alcan […]
Alcoa Sells Chalco Stake for $2 Billion
From Staff Reports Alcoa Inc. (AA ), the biggest U.S.-based aluminum producer, has sold its nearly 7% stake in China's largest aluminum maker for $2 billion. The Pittsburgh-based Alcoa sold its interest in Aluminum Corporation of China Ltd., also known as Chalco (ACH ), for the equivalent of $2.23 a share, a 15% discount to […]