Economic Calendar

Monday, September 8, 2008

Asia Commodities Day Ahead: Raw Materials Fall as Economy Slows

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Sept. 8 (Bloomberg) -- Copper, soybeans and gasoline led a decline in commodities on speculation a slowing economy will erode raw-material demand. Gold, silver and platinum fell. Orange juice rose the most in more than a week on speculation a hurricane may damage Florida citrus groves.

COMMODITIES INVESTMENT

Copper, Grains Lead Drop in Commodities as Economies Slump

Copper, soybeans and gasoline led a decline in commodities on speculation a slowing global economy will erode demand for raw materials. Some prices extended the drop after the U.S. lost more jobs than forecast in August.

Vote Counting Resumes Amid Western Australian Election Deadlock

Vote counting resumes in Western Australia today after the incumbent Labor Party and the pro-uranium mining Liberal Party both failed to claim enough seats to form a majority government.

AGRICULTURAL COMMODITIES

U.S. Corn, Soybean Crops Will Top USDA Estimates, Informa Says

U.S. farmers will produce more corn and soybeans than the government forecast last month after warm, sunny August weather helped revive Midwest crop development slowed by June flooding, according to Informa Economics Inc.


Corn, Soybeans Decline as Investors Reduce Commodity Assets

Corn and soybeans fell the most in more than three weeks amid speculation slowing global economies will reduce demand for commodities as a hedge against inflation. Corn dropped 16 cents to $5.485 a bushel in Chicago. Soybeans declined 58 cents to $11.77 a bushel.

Wheat Falls to 3-Month Low as Record Crop May Outpace Demand

Wheat plunged to a three-month low on speculation that record global production will outpace demand, boosting grain inventories. Wheat fell 25.5 cents, or 3.3 percent, to $7.515 a bushel in Chicago.

CHEMICALS

Dow Says FTC Wants Additional Information on Rohm & Haas Buyout

Dow Chemical Co., the largest U.S. chemical maker, received a request from the U.S. Federal Trade Commission for additional information regarding its proposed $15.4 billion acquisition of Rohm & Haas Co.

INDUSTRIAL METALS, MINING

Copper Falls, Capping Biggest Weekly Decline Since January 2007

Copper tumbled, capping the biggest weekly drop since January 2007, as climbing stockpiles and slowing global growth signaled demand for the metal may decline. Copper sank 16.75 cents, or 5.1 percent, to $3.0985 a pound in New York.

PRECIOUS METALS, GEMS

Gold Falls as Dollar Strengthens; Silver Drops to One-Year Low

Gold fell as the dollar strengthened, eroding the appeal of precious metals as alternative assets. Gold slid 40 cents to $802.80 an ounce in New York. Silver dropped 61.5 cents, or 4.8 percent, to $12.325 an ounce.

Platinum, Palladium Tumble as Energy Costs Drop, Dollar Gains

Platinum and palladium declined as energy costs dropped, reducing demand for the precious metals as hedges against inflation. Platinum slid $34.40, or 2.5 percent, to $1,367.80 an ounce in New York. Palladium fell $16.90, or 5.8 percent, to $272.90 an ounce.

SOFT COMMODITIES

Orange Juice Rallies on Bets Hurricane Ike May Hit Florida Crop

Orange juice rose the most in more than a week on speculation that Hurricane Ike may hit Florida and batter citrus groves still recovering from previous storms. Orange juice climbed 4.4 cents, or 4.1 percent, to $1.1255 a pound in New York.

Cotton Falls as Slowing Economy, Dollar Gain May Curb Demand

Cotton fell the most in a month on speculation that a slowing global economy will cut demand for the fiber as a stronger dollar dulls the appeal of U.S. exports. Cotton dropped 2.62 cents, or 3.8 percent, to 65.84 cents a pound in New York.

Coffee Slips in N.Y., Heading for Weekly Fall, as Dollar Firms

Coffee dropped the most since early August as the dollar strengthened and traders speculated the slowing economy may reduce demand. Arabica coffee lost 4.1 cents, or 2.8 percent, to $1.4265 a pound in New York. Robusta coffee fell $62, or 2.8 percent, to $2,166 a ton in London.

Sugar Falls in New York as Dollar Gains, Commodities Slide

Sugar fell in New York, declining for a second straight week, as the stronger dollar reduced the appeal of commodities as an inflation hedge. Raw-sugar futures fell 0.11 cent, or 0.9 percent, to 12.54 cents a pound in New York.

Cocoa Falls to 3-Week Low as Dollar Strengthens, Demand Slumps

Cocoa dropped to a three-week low in New York as the dollar strengthened and traders speculated that slowing global growth will pinch demand. Cocoa fell $14, or 0.5 percent, to $2,636 a metric ton.

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