Loading…
Natural gas futures for October delivery surged as much as 10% and rose above $6 per million British thermal units for the first time in seven years before paring gains. The rally coincided with the expiration of the October futures contract, as traders closed out positions amid U.S. supply concerns.
Tight U.S. gas supply pushing prices to seven-year highs raises feed costs for energy-intensive processing and encourages substitution in feed-grain drying and fertilizer markets. Higher natural gas costs tend to lift DDGS and nitrogen fertilizer prices, which feeds into corn cost structures.
bloomberg.comGerson Freitas Jr.Sep 28, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
