Commodity News Roundup

From Prudent Bear. The pertinent part of a much larger article.

"Commodities and Food Watch:

March 10 – Bloomberg (Isis Almeida): “The price of Colombian mild coffee soared to the highest price in almost 34 years as global stockpiles of beans dropped to the lowest levels since records began, according to the International Coffee Organization… Coffee inventories in exporting countries are 13 million bags, according to the London-based group. ‘That’s the lowest stocks in recorded history,’ Jose Sette, head of the organization…”

The CRB index dropped 3.0% (up 5.7% y-t-d). The Goldman Sachs Commodities Index fell 2.6% (up 11.0%). Spot Gold slipped 0.9% to $1,431 (down 0.2%). Silver rallied 1.7% to $35.92 (up 16%). April Crude dropped $3.77 to $100.65 (up 10%). April Gasoline fell 2.0% (up 23%), while April Natural Gas rallied 2.4% (down 12%). May Copper dropped 5.6% (down 4.8%). May Wheat sank 13.6% (down 9.5%), and May Corn fell 8.8% (up 5.6%)."

Scratch coffee off your grocery list if you haven't already.