Nasdaq Commodities

Every spring, China observes the Qingming tomb-sweeping festival, where families visit and clean the graves of their ancestors, making ritual offerings and paying respects.

Malaysian palm oil futures rose on Friday to log a third straight weekly gain amid higher Dalian softs and crude oil prices, although a stronger ringgit capped further gains.

The United Nations food agency's world price index fell in February for a seventh consecutive month as lower prices for all major cereals more than offset the rising price of sugar and meat.

Ivory Coast will not change the fixed farmgate price it pays to cocoa farmers for the upcoming April-to-September mid crop, Coffee and Cocoa Council sources said.

Almost half of Ukraine's regions have started 2024 spring sowing, seeding the first 68,000 hectares of spring wheat, peas, barley and oats, the agriculture ministry said on Friday.

The United Nations food agency's world price index fell in February for a seventh consecutive month as lower prices for all major cereals more than offset the rising price of sugar and meat.

Britain's antitrust regulator said on Friday that T&L Sugars's purchase of Tereos UK & Ireland's assets could result in higher sugar prices for UK shoppers.

The war in the Middle East has pushed the gold price up, but it's not the only factor that's causing the yellow metal to rise. Brien Lundin, editor of Gold Newsletter, said it's also responding to turmoil in the Treasuries space. "All the old relationships are breaking right now, which kind of signals a turning point in the market," he explained. "The one common characteristic is that gold is finding excuses to rise. Even when Treasury yields go up, even when they go down; even when the dollar index goes up, even when it goes down. So the correlations are different, they're breaking."Lundin also discussed his positive outlook on uranium and shared where he sees the most opportunity right now. "The place to be right now is those companies that are on the verge of production or being acquired by those companies that suddenly get stronger because they get appreciation of their market value," he said. Watch the interview above for more from Lundin on gold and uranium. You can also click here for the Investing News Network's full New Orleans Investment Conference playlist on YouTube. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Japan will reduce the rate at which it sells imported wheat to domestic flour mills from April by an average 0.6% to reflect softer import prices, the farm ministry said on Thursday.

Most nonferrous metals were set for a weekly gain on Friday, aided by a weaker dollar amid the U.S. Federal Reserve's interest rate cut hopes, better-than-expected China trade data, and supply worry in some metals.

Chicago wheat inched higher on Friday, with short-covering supporting prices after recent declines, although the market is on track for a second week of losses on lack of demand and plentiful global supplies.

Malaysian palm oil futures rose on Friday amid higher edible and crude oil prices, and are headed for a more than 3% weekly gain.

India consumer price inflation is forecast to have edged down to a four-month low just above 5% in February on moderating food price rises, according to a Reuters poll of economists.

Chicago wheat inched higher on Friday, with short-covering supporting prices after recent declines, although the market is on track for a second week of losses on lack of demand and plentiful global supplies.

Boeing said on Thursday it is overhauling how it pays employee bonuses to emphasize quality and safety, with this year's operational goals exclusively focused on these two components.

Chicago Mercantile Exchange live cattle futures ended higher on Thursday as firming wholesale beef prices fueled optimism that cash cattle prices would rise, traders said.

Chicago Board of Trade (CBOT) wheat futures ended mostly lower on Thursday with the benchmark contract tumbling to a fresh 3-1/2-year low late in the session after China cancelled a purchase of U.S. wheat and Egypt scrapped an international purchase tender, traders said.

Last week’s U.S. soybean export sales exceeded all trade expectations for the first time since November, but that is not at all representative of how little interest international buyers have expressed of late.

Speaking to the Investing News Network, David Erfle, editor and founder of Junior Miner Junky, explained why he believes a gold stock mean reversion is about to happen and what he's done to get positioned. Erfle was speaking this past Monday (March 4) at the Prospectors & Developers Association of Canada (PDAC) convention, just as the gold price was heading toward the US$2,100 per ounce mark and into record territory. While he's seen disconnects between the gold price and gold stocks in the past, the circumstances were different."I've never seen this much of a disconnect before while the gold price is breaking out," Erfle said. "I've seen ... this much of a severe deficit twice before, when the gold price was threatening to break down to a much lower level." He mentioned the period in late 2015 and early 2016 when gold was on the verge of falling below US$1,000. "Now it's threatening to break out above US$2,100," Erfle went on to say. "There's something I follow called the HUI-to-gold ratio, and that's basically the gold stocks in relation to the price of gold. A mean reversion happened in 2016 and at the March 2020 low as well, right around PDAC. So basically what it was is you had the HUI-to-gold ratio hit 0.09 in 2016, the first couple of weeks of 2016, and then 0.093 in March of 2020. And then it hit 0.094 last Wednesday (March 28). Meaning a gold stock mean reversion is about to happen. The last two times that happened, the mean reversion started and you had huge moves in many juniors and many miners within six months." Erfle also briefly discussed the opportunity in silver stocks, saying they are currently hated. "Silver's a fantastic opportunity right now as far as the stocks are concerned, but you have to get into the right ones," he said. Watch the interview for more from Erfle on gold and silver. You can also click here for our PDAC playlist.Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Brien Lundin, editor of Gold Newsletter, shared his outlook for gold and gold stocks in 2024. In his view, the US Federal Reserve will have to start lowering interest rates this year due to vast federal debt. "Rates will have to fall, the Fed will have to pivot and other central banks will follow suit. When that happens, gold should do very well," Lundin said, adding that it's key for investors to be ready for this move ahead of time. When asked about his strategy, Lundin said he's taking some profits on uranium stocks and repositioning in gold and silver juniors. "The key is that you want to be involved in this sector, you want to be positioned in it for when it turns. And you can just have confidence that it's probably going to turn sometime this year," he explained.Lundin also reminded market participants that gold stocks are likely to move quickly when they break out. "People ask me when the last time was that I saw the junior mining share market this depressed. And I tell them in the 2000 timeframe it was as well," he told the Investing News Network. "But back then, gold was selling at US$252 an ounce; now it's near an all-time high. Back then, gold had to almost double before the mining stocks started to reawaken. Now it won't take that long, it won't take a couple years. It will take weeks or even days, and you'll get whiplash seeing how quickly FOMO kicks in and these stocks will take off." Watch the interview for more from Lundin on gold and gold stocks. You can also click here for our full playlist from this year's Prospectors & Developers Association of Canada convention.Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.