By Barani Krishnan
NEW YORK, June 24 (Reuters) - Copper and gold prices fell on
Monday on fears of a liquidity crunch in China, while oil
rebounded to finish higher after record flooding in Canada's
main oil-producing province threatened exports to the United
In agricultural markets, the price of new-crop corn fell for
a third straight session in Chicago as favorable growing weather
across the Midwestern United States reinforced the prospect of a
Among other crops, cocoa dropped to multi-month lows
in New York and London as funds kept liquidating long positions
after prices fell below key technical levels.
The 19-commodity Thomson Reuters-Jefferies CRB index fell 0.2 percent. The index lost 2.8 percent last week
for its sharpest weekly decline since October after a selloff
triggered by bleak Chinese data and plans by the U.S. Federal
Reserve to cut stimulus efforts.
'For the time being, it seems that the path of least
resistance in most markets is lower still,' Edward Meir, metals
analyst at INTL FC Stone wrote in a commentary.
'The reverberations from last week's Fed policy statement
and concerns about credit conditions in China are too large to
ignore at this stage, and we need to see the aftershocks settle
a bit before the buyers feel it is safe enough to return.'
Copper's key three-month contract on the London Metal
Exchange touched a session low of $6,613 a tonne, its
lowest since July 2010. It closed down more than 2 percent at
The spot price of gold fell around 1 percent to below
$1,282 an ounce, extending last week's 7 percent slide.
Oil's benchmark Brent crude out of Europe's North Sea settled up 25 cents, or 0.25 percent, at $101.16 a
barrel. Last week, Brent fell 4.7 percent.
Prices at 5:09 p.m. EDT (2108 GMT)
LAST/ NET PCT YTD
CLOSE CHG CHG CHG
US crude 94.90 1.21 1.3% 3.4%
Brent crude 101.09 0.18 0.2% -9.0%
Natural gas 3.739 -0.032 -0.8% 11.6%
US gold 1277.10 -14.90 -1.2% -23.8%
Gold 1282.30 -14.45 -1.1% -23.4%
US Copper 3.02 -0.07 -2.3% -17.2%
LME Copper 6670.00 -148.00 -2.2% -15.9%
Dollar 82.440 0.122 0.2% 7.4%
CRB 277.478 -0.603 -0.2% -5.9%
US corn 653.25 -8.50 -1.3% -6.4%
US soybeans 1512.00 18.75 1.3% 6.6%
US wheat 679.00 -19.00 -2.7% -12.7%
US Coffee 119.45 0.75 0.6% -16.9%
US Cocoa 2169.00 -2.00 -0.1% -3.0%
US Sugar 17.01 0.27 1.6% -12.8%
US silver 19.493 19.293 1.5% -35.5%
US platinum 1329.10 -40.40 0.0% -13.6%
US palladium 656.10 -17.15 -2.5% -6.7%
(Editing by Andre Grenon and David Gregorio)
Keywords: MARKETS COMMODITIES/
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