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Commodity bulls’ dash for the exit sends prices tumbling

Financial Times LogoFinancial Times11h ago

Commodity bulls’ dash for the exit sends prices tumbling - Financial Times

Quick Summary:

A firm US dollar — in which most commodities are priced — market gyrations in response to US presidential election uncertainty and weak economic growth in other parts of the world have all weighed on commodity prices, analysts said.

The widespread sell-off marks a sharp reversal from just over two months ago when some commodities, including copper, reached record highs as investors poured in money and bearish traders were forced out of their bets.

For agricultural commodities, slow economic growth and bumper domestic harvests in China are sparking fears that demand for imports of crops such as wheat and corn from the world’s biggest buyer will wane — just as global supplies of the grains surge.


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Article Details

Author / Journalist: Susannah Savage

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 13:11:35 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 947 words

Reading Time: 6 minutes read

Sentences: 26 lines

Sentence Length: 37 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 21886473

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 14 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 12 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #3

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