Materials Shares Rose Despite Fall in Precious Metals

Dow Jones
10/03

Producers of metals, grains and other raw materials rose despite a decline in gold and silver futures and amid expectations of increased U.S. grains production.

Next week's monthly WASDE report from the USDA may show higher yields for U.S. soybeans, StoneX said. The firm projects soybean yields at 54.1 bushels an acre, with production at 4.65 billion bushels. Both of these estimates would be above last month's USDA projections, and record-highs for U.S. soybeans. StoneX projects corn production at 16.12 billion bushels, which would be the second-largest crop in U.S. history.

Norges Bank Investment Management, the arm of Norway's central bank that manages the country's $2.3 trillion sovereign-wealth fund, agreed to invest 1.2 billion euros ($1.35 billion) in a new fund that will invest in renewable energy infrastructure. NBIM said Friday that it has committed the investment to Copenhagen Infrastructure Partners' sixth flagship renewable energy fund, CI VI.

 

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