Here’s that missing post from yesterday.
I found it ironic that the market was rallying on supposedly benign inflation news, while these were the headlines. It just goes to show you, that when Mr. Market wants to go higher, he’s going higher. Period.
Wheat prices hit 11-year high (06.14.2007)
U.S. wheat futures roared higher Thursday, rising to fresh 11-year peaks on continued concerns about tightening world wheat supplies amid drought in Eastern Europe and rains in the U.S.
Oil Rises to Nine-Month on Speculation Gasoline Output to Trail Demand Crude oil rose to $68 a barrel in New
York, the highest close since September, on concern that U.S.
refiners will be unable to keep up with growing gasoline demand.
Copper Gains; Concerns Ease That Interest Rates Will Rise Copper rose for a third day in New
York, capping a weekly gain, as a tame inflation report eased
the risk of higher U.S. interest rates that threatened to curb
investment in manufacturing and the construction industry.
Gold, Silver Rise in New York as Dollar Weakens Gold and silver rose in New York
after a decline in the value of the dollar against the euro
increased the appeal of precious metals as alternative
Corn, Soybeans Rise as Lack of Rain in Midwest Threatens Corn rose to a three-month high in
Chicago and soybeans gained on forecasts for dry, warm weather
that will reduce soil moisture and increase plant stress for the
two biggest U.S. crops.
Cotton Extends Rally to Three-Year High Cotton in New York rose, extending a
rally to a three-year high, after supplies dwindled in China,
spurring speculation shipments from the U.S. may increase.
Food, energy costs’ exclusion debated When it comes to measuring inflation, consumers and economists often don’t speak the same language. When consumers think of inflation, they often focus on prices of things they buy regularly, such as food and gasoline, which have been going up significantly in price this year.
Cost of Gas and Food Rose Sharply Last Month Americans felt the pinch of higher gas prices and eroding wages last month, even as an important gauge of inflation drifted lower, government figures showed yesterday. Over all, the Consumer Price Index rose 0.7 percent in May, the Labor Department reported. The core rate, which excludes food and energy, was up just 0.1 percent, a welcome development that encourages the Federal Reserve to keep interest rates steady.
Like mentioned previously, what you see in temrs of inflation just depends upon where you look . . .