{"id":15136,"date":"2012-10-02T05:24:57","date_gmt":"2012-10-02T03:24:57","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/commodities-weak-dollar-helps-boost-q4-start-natgas-softs-lead\/"},"modified":"2012-10-02T05:24:57","modified_gmt":"2012-10-02T03:24:57","slug":"commodities-weak-dollar-helps-boost-q4-start-natgas-softs-lead","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/commodities-weak-dollar-helps-boost-q4-start-natgas-softs-lead\/","title":{"rendered":"COMMODITIES-Weak dollar helps boost Q4 start; natgas, softs lead"},"content":{"rendered":"<p>\t\t<!--[if IE]&gt; div#resizeableText { overflow-x:auto; overflow-y:hidden; } &lt;![endif]--><\/p>\n<p>\t\t<span><\/span><\/p>\n<pre>* Natgas up 5 pct, leading gains on cooler weather outlook\n    * Arabica coffee and raw sugar up about 3 pct each\n    * Gold hits near one-year high\n    * Optimistic view of commodities tempered by euro zone\n\n    By Barani Krishnan\n    NEW YORK, Oct 1 (Reuters) - Commodities closed up broadly\nfor a third day on Monday as prices adjusted to a weak dollar\nafter fourth quarter trading opened to nagging worries over\nEurope.\n    Natural gas led gains with a 5 percent price jump,\nhitting its highest level for 2012 and extending its winning\nstreak for a fifth day on forecasts of cooler U.S. weather\n. Soft commodities such as arabica coffee and raw\nsugar rose about 3 percent each. \n    Gold hit a near one-year high, with traders and\nanalysts citing both fund buying and possible central bank\ndemand for bullion caused by inflation concerns. \n    Brent crude oil closed down after an early rally set\noff by positive U.S. manufacturing data fizzled on worries about\na looming recession in the euro zone and signs of economic\nweakness in Asia. \n    Soybeans and grains such as corn and wheat \nalso fell on a record-fast harvest and reports of\nlarger-than-expected crop yields. \n    The Thomson Reuters-Jefferies CRB index, a bellwether\nfor commodity markets, settled up 0.6 percent. The 19-commodity\nindex has risen about 2.5 percent in all over the past three\nsessions.\n    \"I think it's more likely the dollar weakness,\" said Stephen\nBriggs, a metal markets strategist in London for BNP Paribas,\noffering a reason for the broadly higher finish. \n    The dollar fell from a three-week high against other major\ncurrencies after data showed U.S. manufacturing expanded\nunexpectedly in September for the first time since May as new\norders and employment picked up.  \n    Since commodities are mostly traded in dollars, a weakening\nof the currency usually triggers upward adjustments in price.\n    Commodities posted their biggest gain in nearly two years\nduring the third quarter as prices hit multi-month highs in\nanticipation of bond-buying and other stimulus - later confirmed\n- by central banks in the United States, Europe and China.\n \n    Prospects for capital flows into commodities look even \nbetter for the current quarter after a U.S. judge knocked back\non Friday tough new rules to clamp down on excessive speculation\nin raw material markets.\n    The decision by District Court Judge Robert Wilkins handed\nan 11th-hour victory to Wall Street's biggest banks and angered\nlawmakers concerned about high prices for gasoline and raw\nmaterials. It is the second legal setback for regulators\nstruggling to implement sweeping reforms enacted after the 2008\nfinancial crisis. \n    Despite such positive factors for the trade, commodity\ndealers and analysts said prices could still fall in the fourth\nquarter if sentiment about Europe worsened, causing the euro and\n dollar to rally.\n    Concerns are running high about when, and not if, Spain will\nrequest a bailout in exchange for the European Central Bank\nlowering its borrowing costs.\n    Global factory data on Monday showed companies across the\nworld have yet to benefit much from the aggressive stimulus\nspending undertaken recently by the world's major central banks.\n  \n    Euro zone factories suffered their worst quarter since early\n2009, suggesting the region may struggle to avoid recession. \n    Factory activity in China also contracted, indicating that\nthe world's No. 2 economy lost momentum for a seventh\nconsecutive quarter.\n    \n Prices at 6:05 p.m. EDT (2204 GMT)      \n                             LAST\/      NET    PCT     YTD\n                             CLOSE      CHG    CHG     CHG\n US crude                    92.46    -0.02   0.0%   -6.4%\n Brent crude                112.13    -0.26  -0.2%    4.4%\n Natural gas                 3.480    0.000   0.0%   16.4%\n \n US gold                   1783.30     9.40   0.5%   13.8%\n Gold                      1775.64    -4.75  -0.3%   13.5%\n US Copper                  378.55     2.75   0.7%   10.2%\n LME Copper                8299.50    94.50   1.2%    9.2%\n Dollar                     79.818   -0.117  -0.1%   -0.4%\n \n \n US corn                    760.00     0.50   0.1%   17.6%\n US soybeans               1563.00   -39.75  -2.5%   30.4%\n US wheat                   896.00   -16.25  -1.8%   37.3%\n \n US Coffee                  178.05     4.55   2.6%  -22.0%\n US Cocoa                  2450.00   -66.00  -2.6%   16.2%\n US Sugar                    21.13     0.71   3.5%   -9.0%\n \n US silver                  34.952    0.375   1.1%   25.2%\n US platinum               1683.80    16.40   1.0%   19.9%\n US palladium               645.60     4.80   0.7%   -1.6%<\/pre>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Natgas up 5 pct, leading gains on cooler weather outlook * Arabica coffee and raw sugar up about 3 pct each * Gold hits near one-year high * Optimistic view of commodities tempered by euro zone By Barani Krishnan NEW YORK, Oct 1 (Reuters) &#8211; Commodities closed up broadly for a third day on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15136","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15136"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15136\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}