Mixed start for commodities: natural gas, palladium and soybeans
Mixed start for commodities: natural gas, palladium and soybeans. Bloomberg's index of major commodities is flat amid a mixed start to the week for commodities, as gains in energy, industrial metals and softs have been offset by losses in grains and precious metals. According to Ole Hansen, Saxo Bank Head of Commodity Strategy, natural gas has jumped higher following poor US weather forecasts, and colder-than-normal weather forecasts could trigger a sizeable amount of speculative buying. Buyers are returning to coffee after it slumped to a one-month low last week, following reports more moisture is needed in Brazil's key coffee growing areas. Palladium 's relative price to its sister metal platinum has reached its most expensive level since May 2002, and soybeans are trading lower after a hectic harvest weekend in the US. (VIEW LINK)
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