Commodity Blog

Commodity news, technical and fundamental analysis, market data on precious metals, energies, industrial metals, and soft commodities


Sugar Climbs on Damaged Cane in Florida, Crude Oil Falls

January 12, 2010 at 23:18 by Vladimir Vyun

Sugar jumped on speculation that low temperatures harmed cane crops in Florida. The cold was especially harmful to cane planted between September and December. The exact appraisal of damage done to plant is not yet done. March futures for raw-sugar delivery jumped 2.3 percent to $0.2736 per pound on ICE Futures U.S. in New York today.

Crude oil tumbled to the lowest in two months as China, the biggest consumer in the world, have taken measures to prevent the economy from “overheating” and slow a credit boom. Oil prices also dropped after forecasts that temperature in the U.S. will rise this week, curbing demand for heating oil. February delivery for crude oil slid $1.73 (2.1 percent) to $80.79 per barrel at 14:30 on NYMEX. Futures went up to $83.95 per barrel yesterday.

If you have any questions and comments on the commodities today, use the form below to reply.

Leave a Reply