June 1 (Bloomberg) -- Corn, soybeans and wheat rose to the highest prices in at least seven months as signs of an improving economy in China renewed speculation that the worst of the global recession may be ending, boosting demand for commodities.
Investments in commodities have soared as the value of the dollar fell 11 percent since February against a basket of six major currencies. The Reuters/Jefferies CRB Index of 19 raw materials surged 14 percent in May, the biggest monthly rise since July 1974. The Federal Reserve and the administration of President Barack Obama have committed $12.8 trillion to snap the longest U.S. economic slump since the 1930s.
“Continued indications that world economies are bottoming is triggering the flow of money away from safe havens back to various markets,” said Dale Durchholz, a senior market analyst for AgriVisor LLC in Bloomington, Illinois. “The dollar is weakening with this shift. That in turn bolsters U.S. commodities, grain in particular, on ideas of good export demand.” more...
Tidak ada komentar:
Posting Komentar