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BUSINESS
November 13, 1985 | From Associated Press
Treasury bond futures soared to five-year highs Tuesday on the Chicago Board of Trade amid growing conviction that Congress will be able to pare the federal budget deficit. Treasury bond futures for delivery in December finished with a gain of more than 1 percentage point, closing at the highest level for a Treasury bond contract since December, 1980.
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BUSINESS
January 21, 1986 | From Associated Press
Petroleum futures prices plunged in a "selling panic" Monday largely because of an over-abundance of supply. Crude oil slumped the $1-a-barrel limit for daily trading on the New York Mercantile Exchange. The contract for delivery in February, for which there is no limit, settled $2.26 lower. "The market dropped as much in one day as it did all last week, and last week was one of the worst I remember," said Peter Beutel, an analyst in New York with Rudolf Wolff Energy.
BUSINESS
May 11, 1985 | From Associated Press
Cocoa futures prices soared Friday on the Coffee, Sugar and Cocoa Exchange for the second straight day, primarily in response to steps taken by the exchange to force traders out of their contract positions. In the past two sessions, the price has advanced $179 a metric ton, more than 7% of its value.
BUSINESS
July 31, 1986 | From Associated Press
Prospects for a worsening drought in the Mississippi Delta propelled soybean futures ahead strongly Wednesday on the Chicago Board of Trade. In other markets, livestock and meat futures settled sharply lower, coffee plunged the limit 4 cents a pound, cotton advanced strongly and oil moved higher. "Beans started strong and they were supported all day," said Victor Lespinasse, a trader with Dean Witter Reynolds Inc.
BUSINESS
July 2, 1989 | DAVID OLMOS, Times Staff Writer
Early last year, when prices for computer memory chips were climbing as quickly as a squirrel up a tree, Jeff Bittner saw a good chance to make a fast buck. Bittner bought 5,000 of the tiny semiconductors for $3.50 each on a Wednesday, sold them two days later for $5 each, and pocketed a tidy $7,500 profit. Still, he regrets that he didn't hold on until the following Monday, when the price climbed another dollar.
BUSINESS
January 21, 1989 | MELANIE PICKETT
The trading pits in Chicago may seem far away from most consumers, but many of the farm and financial products represented there and elsewhere in the futures markets are part of everyday life. When traders talk about pork bellies futures, they are speculating on the eventual price of bacon. When investors show interest in frozen concentrated orange juice futures, they are betting on whether a cold freeze this winter in Florida will affect the price of juice.
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