Brazil, the biggest sugar and coffee grower, had the driest January in six decades, scorching crops. Arctic-like cold is projected for the eastern two-thirds of the U.S. at the end of the month, boosting demand for natural gas.
As temperatures dipped to a record minus 25 degrees Fahrenheit (minus 32 Celsius), the crew at Dean Wang’s ranch in Baker, Montana, increased alfalfa-hay rations to give his cattle more energy during the arctic blast.
Cattle futures extended a rally to an all-time high as prices are poised to cap the longest string of annual gains in five decades on signs that animal supplies are shrinking.
The commodity slump that spurred bear markets in everything from gold to corn to sugar this year will deepen by the end of December as prices head for their first annual loss since 2008, if history is any guide.
The commodity slump that spurred bear markets in everything from gold to corn to sugar this year will deepen by the end of December as prices head for their first annual loss since 2008, if history is any guide.
Hedge funds got less bullish on gold, cutting their net-long position to a four-month low, before prices capped the biggest weekly retreat since September.
Hedge funds got less bullish on gold, cutting their net-long position to a four-month low, before prices capped the biggest weekly retreat since September.
