Sugar prices rise to highest level in eight monthsJune 19, 2014 - 13:37 AMT PanARMENIAN.Net - Sugar prices rose to their highest level in eight months Wednesday, June 19, on supply worries out of Brazil and India, the world's two largest sugar producers, the Associated Press reports. Sugar rose 0.4 of a cent, or 2.5 percent, to 18.4 cents a pound. That's the highest level for sugar since October. Brazil is considering increasing the amount of ethanol it uses in fuel for autos. Brazil uses sugarcane to make ethanol, unlike the U.S. where corn is primarily used. If Brazil were to use more sugarcane as fuel, it would tighten sugar supplies. Other agricultural commodity prices also rose. Wheat rose 5 cents, or 1 percent, to $5.87 a bushel, corn rose 3 cents, or 0.6 percent, to $4.41 a bushel and soybeans rose 11 cents, or 1 percent, to $14.09 a bushel. In metals trading, the price of gold rose 70 cents, or 0.1 percent, to $1,272.70 an ounce. Silver rose 5 cents, or 0.2 percent, to $19.78 an ounce and copper was unchanged at $3.06 a pound. Platinum rose $7.70, or 0.5 percent, to $1,450.80 an ounce and palladium added $5.95, or 0.7 percent, to $822.60 an ounce. Energy futures were mixed. Crude oil fell 39 cents, or 0.4 percent, to $105.97 a barrel and natural gas fell 5 cents, or 1.1 percent, to $4.66 per thousand cubic feet. Wholesale gasoline futures rose less than a cent to $3.10 a gallon. Heating oil rose 2 cents, or 0.7 percent, to $3.04 a gallon. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |