November 30th, 2012

Euro Futures – The euro rose to a more than one- month high against the dollar as German lawmakers approved Greece’s latest rescue package amid optimism U.S. politicians will agree on a new budget.

The yen slid to the weakest in seven months versus the shared currency after data showed Japan’s consumer prices stagnated in October, adding to speculation the central bank will increase stimulus to spur inflation. The euro held gains even as a Bloomberg Global Poll showed that Germany, Europe’s largest economy, will be tipped into recession as the region’s sovereign-debt crisis extends into the new year. Norway’s krone rose the most on speculation of a boost in interest rates.

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November 29th, 2012

Cotton futures rose to a five-week high on optimism that U.S. lawmakers will reach a budget accord, avoiding a fiscal cliff that would hurt the economy and cut commodity use. Cocoa, sugar, coffee and orange juice gained.

The world economy is in its best shape in 18 months as China’s prospects improve and the U.S. seeks to avoid the tax increases and spending cuts known as the fiscal cliff, according to the Bloomberg Global Poll of investors. The Standard & Poor’s GSCI Spot Index of 24 raw materials rose for the first time in four days.

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November 29th, 2012

Natural gas futures tumbled in New York, heading for the biggest weekly decline since June, after a government report showed an unexpected gain in U.S. stockpiles as mild weather reduced demand.

Gas dropped 4 percent after an Energy Department report showed supplies rose by 4 billion cubic feet last week to 3.877 trillion cubic feet, the latest seasonal gain since 2009. Analyst estimates compiled by Bloomberg showed a decline of 9 billion cubic feet. Gas has slid 7.2 percent on moderating temperatures after reaching a one-year high on Nov. 23.

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November 29th, 2012

Heating oil and gasoline climbed on optimism U.S. lawmakers will reach consensus on a budget deal and as two economic reports showed some gains for the economy.

Heating oil futures rose as Treasury Secretary Timothy F. Geithner arrives at the Capitol today to meet with with Congressional leaders as part of an effort to avoid automatic spending cuts and tax increases scheduled to take effect in January. U.S. jobless claims fell last week and the economy expanded more than previously estimated in the third quarter.

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gold futures and options

Gold futures move higher

November 29th, 2012

Gold futures rose for the first time in four days on speculation that the Federal Reserve will buy more debt to boost the U.S. economy. Silver climbed to a seven-week high.

“I will be assessing the employment and inflation outlook in order to determine whether we should continue Treasury purchases into 2013,” Federal Reserve Bank of New York President William C. Dudley said in a speech in New York. Treasury Secretary Timothy F. Geithner began talks with congressional leaders on a budget accord.

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November 29th, 2012

Copper Futures – Copper supply shortages will extend into the first half of next year as an accelerating Chinese economy more than doubles the pace of growth in global consumption even as mines extract a record amount of metal.

Demand will outpace supply by 316,000 metric tons in the first six months, more than all copper in London Metal Exchange warehouses, before a surplus emerges in the second half, Barclays Plc estimates. Production has lagged behind consumption since 2010, according to the International Copper Study Group. The metal may average $8,300 a ton in the second quarter, 5.1 percent more than now and the most in a year, according to the median of 21 analyst and trader estimates compiled by Bloomberg.

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November 29th, 2012

Soybean futures rose in Chicago on concern planting delays in Argentina and Brazil will push back the arrival of new-crop supplies from South America, keeping consumers dependent on shrinking U.S. stocks for longer.

Argentina is expected to get moderate to heavy storms in the next two days, delaying soybean and corn planting, Telvent DTN forecast yesterday. U.S. exporters sold 290,000 metric tons of soybeans to China for delivery in the 2012-13 marketing year, the U.S. Department of Agriculture reported yesterday.

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November 29th, 2012

Wheat futures fell for the first time in five sessions on signs of declining demand for supplies from the U.S., the world’s biggest exporter.

U.S. export sales in the week through Nov. 22 totaled 279,337 metric tons, down 56 percent from a week earlier, the Department of Agriculture said today. Since June 1, overseas buyers have agreed to purchase 16.2 million tons, down 10 percent from the same period a year earlier, USDA data show.

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November 26th, 2012

Ethanol futures in Chicago climbed against gasoline for a second day as Brazil’s sugarcane harvest neared its end.

The biofuel, made from corn in the U.S. and from sugarcane in Brazil, gained as industry association Unica said sugar mills in Brazil’s sugarcane belt will begin to shut down in the coming weeks. The mills crushed 42 percent more cane in the first half of November than they did a year earlier.

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November 29th 2012

Sugar Futures – U.S. soft futures were higher during U.S. morning hours on Thursday, with sugar and coffee prices firming as top producer Brazil’s harvest of both commodities begins to wind down.

On the ICE Futures U.S. Exchange, sugar futures for March delivery traded at USD0.1925 a pound, up 0.7% on the day. The March contract rose by as much as 1.4% earlier in the session to hit a daily high of USD0.1939 a pound.

Brazil’s top sugar industry group Unica said on November 26 that sugar output in Brazil’s Center South-region jumped 37% in the first two weeks of November compared to the same period a year earlier.

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