Summary:
- Changes in investor sentiment is driving the price of Platinum down.
- Random Length Lumber Futures prices fall as supply increases amidst supply chain backlogs clearing.
- Corn prices increase as supply tightens and planting slows.
Platinum Futures showing bearish signals.
Over the past week Platinum futures have seen a steady decline in price. This decline in price comes with the concerns over China’s COVID lockdowns, and its possibility of causing a decrease in the demand for Platinum. Since the market opened this morning, the price of Platinum futures has increased by 0.14%. Earlier this year the price of metals spiked due to the Russia-Ukraine conflict but as time has gone on, the bullish signals that have come from the war have slowed, causing the price of some commodities to fall as a result of this change in market and investor sentiment.
Platinum Jul 22 Futures Price Chart
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Corn futures are recovering after dipping earlier this week.
The price of corn futures have not seen any clear trend over the past week, the price increase on monday comes as a result of prospects of higher demand against lower production as well as the current supply chain issues. In addition, the dryness in Brazil, decreasing planting space in the U.S., the delay in China's planting due to lockdowns and two of the world's major corn exporters (Russia and the Ukraine) are in a war - these are all aspects that drive the price of corn up. However, since the market opened this morning we have seen the price of Corn Futures fall by almost 0.45%.
Corn Futures Jul 22 Price Chart
Random Length Lumber Futures
The price of Random Length Lumber Futures has been showing a steady decline over the past days, this comes as demand decreases and supply increases. Supply chain issues regarding lumber have eased causing a temporary flood to the market, as well as favorable spring weather. In addition, the rising inflation caused a pause on the rising U.S housing market, again driving down the price of Lumber.
Random Length Lumber Futures Price Chart
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Sources: Finance.yahoo.com, tradingeconomics.com, reuters.com
