The U.S. Commodities Futures Trading Commission is suing Kraft Foods Group Inc. and Mondelez Global LLC, which was spun off from Kraft in 2012, claiming the two food Goliaths manipulated wheat prices in 2011, earning profits of $5.4 million as a result. [More]
It’s been 30 years since Eddie Murphy and Dan Aykroyd starred in Trading Places, a hit comedy whose big climax involves trading a bunch of frozen concentrated orange juice futures, and you’d be hard-pressed to think of any films about high finance that treated the topic with a sense of humor (though there are certainly some laughable moments in the Wall Street sequel). This baffles the writer of the 1983 film. [More]
Just in time for 4th of July picnics, sucking down the sweet elixirs spewed out by Coca-Cola is about to get a little pricier. Citing the rising cost of commodities, the bottling giant announced it’s going to raise prices 2-3% in July. [More]
Gold prices may be setting new highs almost daily, but to commodity traders, the shiny metal is just another line on a graph. And it’s a line that’s starting to look very familiar to some traders, who see a pattern similar to one that played out recently with hogs. Prices for pigs flew to new highs, and then started drifting back into the mud. [More]
Yeah, you’re freezing your butt off and getting tired of digging your car out — and it’s only early January. But the real crisis is coming later this year, when this cold winter will cause prices of orange juice, bacon and cereal to skyrocket. That’s right: when it comes to commodity futures, it’s all about breakfast. [More]
The prices of commodities has dropped from their peaks of last year, yet food makers are not reducing consumer prices, reports Marketplace. Now this is rather funny, and familiar.
It’s so expensive to produce milk right now — due to low demand and high feed costs — that farmers are being paid to slaughter dairy cows in order to “shift the pain to consumers,” says Bloomberg.
With the the cost of ingredients, gas prices, and interest rates dropping, why are food manufacturers continuing to hike prices and shrink products? According to the L.A. Times, supermarkets don’t know, but they’re as pissed as we are.
Oil is now nearing a 4-year low as the world’s economic crisis keeps on truckin’, says the Wall Street Journal. Light, sweet crude (don’t you just love that term?) is now trading at 44.56 a barrel on the New York Mercantile Exchange. “The price was the lowest since January 2005 and more than $100 below oil’s record close July 3,” says the WSJ. So, what does that mean for travelers?
This 1960’s ad for rice teaches us once again that you can sell anything if you pair it with a hot chick. These days, probably the only thing unexpected thing about rice is its price. Full-size inside.
Where did those two ounces of yogurt go? The dreaded grocery shrink ray has blasted them to oblivion, my friends. Not even store brands are safe.
Is a commodity bubble the new housing bubble? [NPR]
Following Costco’s lead, Walmart announced it is now rationing rice. Shoppers at Sam’s Club discount wholesale clubs will be limited to four bags of rice per customer. Wal-Mart “working with our suppliers to address this matter to ensure we are in stock, and we are asking for our members’ cooperation and patience.” It’s not as bad as it sounds, the bags are still 500 lbs each.
The bustling store in the heart of Silicon Valley usually sells four or five varieties of rice to a clientele largely of Asian immigrants, but only about half a pallet of Indian-grown Basmati rice was left in stock. A 20-pound bag was selling for $15.99.
Think you’re paying too much for food now? You’re going to pay more in 2008 according to Reuters.
Oh no! NPR is reporting that bad weather in Europe has lead to decreased production of hops, a crucial ingredient of beer. The shortage is causing the price of fancy microbrewery beers to rise.
We were discussing expanding our mutual fund portfolio (not hard, as it only contains ONE fund right now) with our step-father and mentioned adding in some international and European funds.