20110425 0954 Global Commodities Related News.

Soy Oil chart reading : side way range bound.

Immediate-Delivery Gold Advances to Record $1,520 Per Ounce; Silver Climbs (Source: Bloomberg)
Gold for immediate delivery climbed to a record, advancing as much as 0.9 percent to $1,520 per ounce before trading at $1,513.57 per ounce at 7:46 a.m. in Singapore. Silver gained as much as 1 percent to $47.7400 per ounce.

Oil in New York Rises to Two-Week High as Middle East Violence Escalates (Source: Bloomberg)
Crude oil rose to the highest in two weeks in New York as renewed violence in the Middle East and Africa threatens to prolong supply disruptions. Futures gained as much as 0.4 percent after Syrian security forces detained at least 200 people following the killing of anti-government protesters and U.S. Senator John McCain said rebels in Libya need more assistance in the fight against Muammar Qaddafi’s forces. Saudi Arabia, holder of the world’s largest crude reserves, has no plans to raise production capacity, an oil official said.

Saudi Arabia to Keep Oil Production Capacity at 12.5 Million Barrels a Day (Source: Bloomberg)
Saudi Arabia, holder of the world’s largest crude oil reserves, has no plans to raise production capacity beyond 12.5 million barrels a day, a Saudi Arabian oil official said. Reports that the country may boost its output capacity to 15 million barrels a day aren’t true, the official said by telephone today, declining to be identified by name because he isn’t authorized to speak publicly.

Corn, Soybeans May Rise as Cold, Weather Slows U.S. Seeding, Survey Shows (Source: Bloomberg)
Corn and soybeans may rise this week as wet, cold weather in the U.S. Midwest threatens to delay planting of the nation’s two biggest crops, eroding yield prospects. Twenty-four of 31 traders and analysts surveyed from Tokyo to Chicago on April 21 said corn will rise, and 25 respondents forecast a gain for soybeans. Last week on the Chicago Board of Trade, corn futures for July delivery dropped 0.7 percent to $7.445 a bushel, and soybean futures for July delivery rose 3.5 percent to $13.8975 a bushel.