Prices for the grain are soaring in China—with front-month futures up 27% this year, to levels not seen since the summer of 2015—which could be good news for U.S. farmers.
Commodities & Futures
The metal zoomed to a record for the first time in nine years as a weakening dollar injected new momentum into a rally driven by uncertainty about the world economy.
U.S. crude prices hit a fresh 4½-month high with investors hoping for faster-than-expected coronavirus vaccine development and weighing a sizable drop in domestic crude stockpiles.
Global investors are piling into bullish wagers on copper prices, sparking the quickest rally in the industrial metal in years and signaling that many money managers remain hopeful about the economic outlook despite rising coronavirus cases in much of the U.S.
Silver prices climbed to their highest level in nearly three years, lifted by factory reopenings and soaring investor demand for precious metals.