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June 25th, 2012
Commodity Investing – At a time when Goldman Sachs Group Inc. (GS) and Credit Suisse Group AG are predicting the bear market in commodities will end, a gauge of prices for raw materials from cow hides to steel is extending the longest slump since it presaged the global recession in 2008.
Credit Suisse said June 21 that an economic recovery will spur a 9.3 percent gain in commodities in 12 months and Goldman forecast a 29 percent return on June 11. A measure of industrial commodities from the Journal of Commerce that includes rubber, plywood and burlap is signaling contraction for an 11th month, the longest stretch since a retreat of the same duration that began in August 2008.
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June 25th, 2012
Corn futures prices advanced, boosted by forecasts for more hot and dry weather in the Midwest.
In electronic trading, Chicago Board of Trade futures for July delivery were up 22 1/4 cents, or 3.8%, at $6.13 1/4 a bushel. December corn is up 28 3/4 cents, or 5.2%, at $5.82 3/4 a bushel, the contract’s highest level since January.
Forecasters predict hot temperatures and low chances of rain across the corn belt this week. Temperatures could reach 100 degrees later this week in areas including parts of Missouri and Illinois, according to the National Weather Service.
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