Soybean Prices Reached Almost Record Prices, Platinum Investors Turning To New Suppliers, Copper Prices Struggling To Recover.

COP27: Russia’s Invasion Of Ukraine Has Led Countries To Ensure Short-Term Energy Security

Summary:

  • Soybean prices continue to show volatility as concerns around supply continue.
  • Platinum prices are still trying to find a pattern.
  • Copper demand drops with China in lockdown.

 

Read next: Cotton Prices Reach Highest Prices In Almost 11 Years, Copper Prices Facing Negative Outlook and EU Announces 6 Month Plan To Phase Out Russian Crude Oil Imports. 


 

Soybean prices have been soaring the past month.

Over the past month we have seen the price of soybean futures rise to almost record highs. The Soybean commodity is under price pressure as a secondary backlash from the war between Russia and the Ukraine along with adverse weather conditions in Latin America and supply chain issues around the world. Since the start of the pandemic, the price of Soybean futures have doubled. There is a strong demand for soybean in the form of oil and feed for cattle all over the world, with Latin America being one of the worlds largest suppliers and is experiencing a poor harvest due to the poor weather conditions, the concerns around supply are growing, causing the prices to rise.

Soybean Prices Reached Almost Record Prices, Platinum Investors Turning To New Suppliers, Copper Prices Struggling To recover - 1

Soybean Jul ‘22 Price Chart

Platinum prices affected by lockdowns in China.

Platinum prices dipped in the previous trading week as a result of concerns around demand with the lockdowns in China. Since then the prices have been on the rise again as the market seems to be somewhat stabilising. As economic sanctions on Russia continue, importers are turning to new sources of Platinum such as South Africa, concerns around supply remain the main factor driving the price of platinum.

Soybean Prices Reached Almost Record Prices, Platinum Investors Turning To New Suppliers, Copper Prices Struggling To recover - 2

Platinum Jul ‘22 Price Chart

Copper price dip amidst lockdown in China.

Since China imposed further lockdowns in the country, the concerns around demand and supply faded for the metals futures. This created a fall in the price as the decreasing demand could take some pressure off some of the supply chain issues. China is responsible for almost half of the world's copper consumption, therefore the lockdowns had a big impact on the price of this precious metal.

Soybean Prices Reached Almost Record Prices, Platinum Investors Turning To New Suppliers, Copper Prices Struggling To recover - 3

Copper Jul ‘22 Futures


 

Read next: Brent Crude Oil Price Continues To Dive, Silver Struggling To Hold Its Price Position & Corn Prices Soaring.


 

Sources: finance.yahoo.com, capital.com, wsj.com

COP27: Russia’s Invasion Of Ukraine Has Led Countries To Ensure Short-Term Energy Security

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.