This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Coffee Slumps On Worries Over Large Supplies

By The Associated Press

Coffee prices slid again Wednesday as investors worry about large supplies coming from South America.

Coffee for March delivery fell 1.95 cent to settle at $1.421 a pound Wednesday. The contract is down 4 percent so far this week.

Sterling Smith, commodities futures specialist at Citigroup in Chicago, said the coffee market may be close to finding a bottom. If the contract can finish the week above $1.40 a pound, he said, buyers are likely to return.

In other trading, metals and agricultural contracts were mixed.

Gold for April delivery rose $5.30 to $1,678.80 per ounce.

Silver for March delivery edged up 0.2 cent to $31.877 per ounce. March copper slipped 2.95 cents to $3.7405 per pound.

March palladium fell 65 cents to settle at $764.80 per ounce. April platinum gained $29.30 to $1,736.50 per ounce.

In March contracts, wheat rose 4 cents to $7.615 per bushel. Corn slipped 6.5 cents to $7.225 per bushel. Soybeans edged down 8 cents to $14.875 per bushel.

Benchmark crude for March delivery fell 2 cents to end at $96.62 a barrel on the New York Mercantile Exchange. It dropped as low as $95.04 in the morning.

â¿¿ Wholesale gasoline rose 0.23 cent to end at $3.0397 a gallon.

â¿¿ Natural gas added 1.9 cents to finish at $3.418 per 1,000 cubic feet.

â¿¿ Heating oil lost half a penny to end at $3.1858 a gallon.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs