Producers of metals, grains and other raw materials rallied as the U.S. dollar fell sharply due to a cease-fire deal between the U.S. and Iran.
Gold futures rose for the seventh time in eight sessions as the U.S. dollar tumbled due to reduced inflation fears.
Fertilizer makers such as CF Industries and Mosaic initially tumbled after the deal emerged, due to anticipation that the commodity would become more widely available. Iran appears to be dragging its heels on a reopening of the Strait of Hormuz, however. Significant shortages of fertilizer look set to remain, warned Jake Hanley, of Teucrium Trading, as reported earlier.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-08-26 1739ET
