{"id":121902,"date":"2024-07-02T18:11:18","date_gmt":"2024-07-02T18:11:18","guid":{"rendered":"https:\/\/fdcng.com\/?p=121902"},"modified":"2024-07-02T18:11:18","modified_gmt":"2024-07-02T18:11:18","slug":"fdc-commodity-update-july-02-2024","status":"publish","type":"post","link":"https:\/\/fdcng.com\/fdc-commodity-update-july-02-2024\/","title":{"rendered":"FDC COMMODITY UPDATE – July 02, 2024"},"content":{"rendered":"

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DOWNLOAD PDF<\/a><\/div> [\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber,<\/p>\n

Brent exceeds $87pb on expectations of increased summer demand<\/em><\/strong><\/p>\n

Oil prices rose by 0.87% to $87.35pb today, driven by the expectations of higher demand during the summer. The American Automobile Association forecasts a 5.2% increase in holiday travel to 60.6 million in 2024, up from 57.8 million in 2023. Additionally, escalating Middle East tension, highlighted by a drone attack in Northern Israel, also supported oil prices.<\/p>\n

Cocoa recovered after plunging to a one year low<\/em><\/strong><\/p>\n

The price of cocoa surged by 6.06% to $7,735\/mt today, due to reduced cocoa inventories. This is after a stockpile of cocoa inventories held in the U.S. ports fell to a 3-1\/2 year low.\u00a0Considering forecasts of pod disease outbreaks and extreme weather conditions by the Economist Intelligence Unit, we expect cocoa prices to remain bullish in the near term.<\/p>\n

FDC’s senior associate, Dumebi Oduwole, and analyst, Oluwaseun Lawal, discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated programmes, respectively.<\/p>\n

Click the link to watch the video.<\/p>\n

Enjoy your read![\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber, Brent exceeds $87pb on expectations of increased summer demand Oil prices rose by 0.87% to $87.35pb today, driven…<\/p>\n","protected":false},"author":7,"featured_media":121900,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,110],"tags":[],"_links":{"self":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121902"}],"collection":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/comments?post=121902"}],"version-history":[{"count":1,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121902\/revisions"}],"predecessor-version":[{"id":121903,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121902\/revisions\/121903"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media\/121900"}],"wp:attachment":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media?parent=121902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/categories?post=121902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/tags?post=121902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}