Commodities Gain As Japan Fears Ease – WSJ.com

Commodities Mar 17, 2011 No Comments

Commodities markets pushed higher, with oil back above $100 a barrel and grain prices surging, on rising confidence in Japan's ability to mount a recovery.

Corn futures hit trading limits after the latest batch of U.S. export sales indicated strong global demand and settled 4.9% higher at $6.4650 a bushel on the Chicago Board of Trade. Fears that consumption in Japan, the world’s top corn importer, would cool following last week’s earthquake and tsunami had driven a dramatic selloff.

The gains in corn lifted wheat, which surged 7.3%, and soybeans. The U.S. Department of Agriculture said Thursday that deals to export more than a million tons of corn from the U.S. were struck in the week ended March 10, beating analysts’ expectations. Japan was the top buyer.

via Commodities Gain As Japan Fears Ease – WSJ.com.

Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.