August 31st, 2011

Corn futures, wheat and soybeans headed for a second monthly gain in Chicago on speculation dry weather will damage crops in the U.S., the world’s largest exporter of the commodities, threatening to curb global supply.

Corn futures for December-delivery fell 0.6 percent to $7.7025 a bushel on the Chicago Board of Trade at 12:30 p.m. Paris time, trimming this month’s gain to 15 percent. Soybeans for November delivery fell 0.3 percent, while headed for a 7 percent gain this month.

Dryness will continue to stress corn and soybean crops in the Midwest, the largest U.S. growing region, with near to below-normal rainfall in the next four days, Telvent DTN Inc. said in a bulletin yesterday. Rainfall in the Southern Plains will be below normal, the forecaster said.

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S&P futures brokers

S&P futures brokers

August 31st, 2011

Stocks rose for a fourth day on speculation the Federal Reserve will stimulate economic growth as U.S. unemployment stays above 9 percent. European government bonds fell and the Swiss franc strengthened.

The MSCI All-Country World Index gained 0.6 percent at 8:13 a.m. in New York, trimming the biggest monthly drop since May 2010. The Stoxx Europe 600 Index advanced 1.4 percent and futures on the Standard & Poor’s 500 Index climbed 0.8 percent. The Swiss franc appreciated against all 16 of its major counterparts tracked by Bloomberg. Copper rose for a sixth day while oil headed for its biggest monthly drop since May.

U.S. companies added fewer jobs in August than July, data showed today, while economists expect factory orders to have climbed. Some Fed officials favored a “more substantial move” beyond an Aug. 9 pledge to hold interest rates at record lows for the next two years, according to the minutes of the latest policy makers’ meeting published yesterday. German unemployment fell in August for a 26th month and retail sales unexpectedly held steady in July, reports showed.

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August 30th, 2011

Crude oil futures rose to the highest level in almost four weeks in New York, advancing with gasoline and heating oil as East Coast refineries worked to restart after Hurricane Irene and on signs the housing market is stabilizing.

Crude oil futures increased as much as 2.2 percent as gasoline jumped after Sunoco Inc. shut a fuel-making unit at its Philadelphia refinery and other terminals operated at reduced rates. ConocoPhillips’s 238,000 barrels a day Linden, New Jersey, plant remains shut after Irene, according to an Energy Department report.

“We’re probably seeing the residual impact of Irene,” said Stephen Schork, president of the Schork Group Inc., an energy advisory company in Villanova, Pennsylvania. “The product markets are leading us higher. It’s the penultimate day for trading the September gasoline contract, which you can deliver summer-grade gasoline against.”

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August 30th, 2011

U.S. stocks rose, amid a 152-point swing in the Dow Jones Industrial Average, after the Federal Reserve said some policy makers wanted to take more action to stimulate the economy during their meeting this month.

The S&P 500 added 0.3 percent to 1,213.56 at 2:30 p.m. in New York, recovering from a 1.2 percent retreat driven by consumer confidence sinking to a 28-month low. The Dow Jones Industrial Average advanced 35.61 points, or 0.3 percent, to 11,574.86 as Boeing Co. (BA), Caterpillar Inc. (CAT) and DuPont Co. rose more than 1.7 percent.

The Fed said those those members, who weren’t identified, “felt that recent economic developments justified a more substantial move” beyond the pledge adopted at the Aug. 9 meeting of the Federal Open Market Committee to hold its key interest rate at a record low until mid-2013.

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August 30th, 2011

Silver futures and gold rose in New York on speculation that the Federal Reserve will ease monetary policy further to stimulate the economy, boosting the appeal of the precious metal as an alternative asset.

“We need to do more,” Chicago Fed President Charles Evans said today in a CNBC interview. The Standard & Poor’s 500 Index fell after a report showed confidence among U.S. consumers plunged in August to the lowest in almost two years. Gold has rallied 12 percent this month, touching a record $1,917.90 an ounce on Aug. 23.

“Classic flight-to-safety instruments are getting a bid today,” Adam Klopfenstein, a senior market strategist at MF Global in Chicago, said today in a telephone interview. “The inverse correlation between equities and gold will persist. Liquidity measures put the inflationary card in the picture. It’s the perfect storm to be long gold.”

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August 30th, 2011

Gold futures rose in New York on speculation that the Federal Reserve will ease monetary policy further to stimulate the economy, boosting the appeal of the precious metal as an alternative asset.

“We need to do more,” Chicago Fed President Charles Evans said today in a CNBC interview. The Standard & Poor’s 500 Index fell after a report showed confidence among U.S. consumers plunged in August to the lowest in almost two years. Gold has rallied 12 percent this month, touching a record $1,917.90 an ounce on Aug. 23.

“Classic flight-to-safety instruments are getting a bid today,” Adam Klopfenstein, a senior market strategist at MF Global in Chicago, said today in a telephone interview. “The inverse correlation between equities and gold will persist. Liquidity measures put the inflationary card in the picture. It’s the perfect storm to be long gold.”

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S&P 500 Falls to Reagan Recession Values

On August 29, 2011, in S&P 500 futures news report, by Infinity Trading

August 29th, 2011

Investors are paying less for equities than they have during every recession since Ronald Reagan was president amid growing concern that the economy is on the edge of another recession.

The Standard & Poor’s 500 Index has lost 13 percent in the past five weeks, sending its price-earnings ratio down to 12.9. That’s 3.5 percent less than the average multiple during the 10 contractions since 1949 and a level last reached in 1982, according to data compiled by Bloomberg.

Bears say valuations show the U.S. remains in the slowdown that began in 2007. Unlike under Reagan, when U.S. Federal Reserve Chairman Paul Volcker raised borrowing costs as high as 20 percent to combat inflation, interest rates are already near zero, leaving policy makers fewer tools to boost the economy, they say. Bulls say the ratios are so low because they reflect indiscriminate selling by investors convinced that any slowdown will turn into a repeat of the 2008 credit crisis.

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August 28th, 2011

Crude oil futures traded near a three-day high in New York as investors speculated that growth will recover in the U.S., spurring demand in the biggest crude consumer. Gasoline slid as Tropical Storm Irene headed toward Canada.

Crude oil futures fluctuated after climbing as much as 0.4 percent. Growth is safe in the long run and the central bank can still aid recovery, Federal Reserve Chairman Ben S. Bernanke said Aug. 26. Refineries along the East Coast were operating plants at or near normal levels after Irene weakened from a hurricane. London’s Brent dropped as Libyan rebels claimed full control of oil fields.

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August 26th, 2011

Silver futures and gold rose in New York for a second straight day after Federal Reserve Chairman Ben S. Bernanke offered no plan to provide further stimulus for the economy.

While Bernanke said the central bank has the tools to spur growth, he refrained from outlining a plan for a third round of so-called quantitative easing. The Fed pledged on Aug. 9 to keep the benchmark interest rate between zero percent and 0.25 percent through at least 2013 to help stimulate the economy. The next policy meeting is Sept. 20. Gold futures slumped as much as 11 percent in the three days through yesterday, after touching a record $1,917.90 an ounce on Aug. 23.

“The gold camp wanted to hear more about easing and more stimulus, but we just got put on hold until September,” Frank Lesh, a trader at FuturePath Trading LLC in Chicago, said in a telephone interview. “All the problems that drove the price of gold up are still out there. All Bernanke did today was move the decision to a proper time.”

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August 26th, 2011

Gold futures rose in New York for a second straight day after Federal Reserve Chairman Ben S. Bernanke offered no plan to provide further stimulus for the economy.

While Bernanke said the central bank has the tools to spur growth, he refrained from outlining a plan for a third round of so-called quantitative easing. The Fed pledged on Aug. 9 to keep the benchmark interest rate between zero percent and 0.25 percent through at least 2013 to help stimulate the economy. The next policy meeting is Sept. 20. Gold futures slumped as much as 11 percent in the three days through yesterday, after touching a record $1,917.90 an ounce on Aug. 23.

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