News – COMMODITIES-Soybeans at 6-month peak; oil, copper muted – Forex Pros
NEW YORK, April 16 (Reuters) – Soybean prices hit six-month highs on Thursday and lifted corn and wheat prices in a rally fueled by voracious demand from China. But demand for industrial commodities was muted as oil rose less than $1 and copper fell more than 1 percent on mixed economic data out of the United States and China. Grains, oilseeds, crude oil and gold all soared to record highs in the first half of 2008 from strong global demand for food and an unprecedented inflow of fund money from investors seeking a hedge against inflation. Among soft commodities, cocoa for July ended New York trade down nearly 3 percent, or $71, at a five-week low of $2,381 per tonne as investors awaited first-quarter U. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world. Sam Seiden During this session, we will learn the process of identifying low risk, high reward, and high probability trading . read more