Commodities Prices Continue to Rise – WSJ.com

Commodities Jan 11, 2011 No Comments

NEW YORK—Commodities prices rose as traders braced for fresh confirmation that poor weather and production outages are cutting into supplies.

Agricultural commodities, including cotton and orange juice, logged a day of gains ahead of a U.S. Department of Agriculture report due Wednesday that is widely seen slashing harvest outlooks for many crops.

Oil prices were lifted above $91 a barrel by the continued shutdown of the Trans Alaska Pipeline, which carries 11% of U.S. oil production. The prices of many commodities have climbed to record highs in recent weeks on a wave of optimism that the world economy would see healthy growth in 2011, spurring new demand for raw materials.

That enthusiasm remained in place Tuesday, with concerns about tightening supplies giving some markets an additional lift.

via Commodities Prices Continue to Rise – 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.