emini s&p 500 futures

S&P Futures Rise

April 29th, 2013

S&P 500 Futures – U.S. stocks climbed, with the Standard & Poor’s 500 Index heading for its sixth straight month of gains, as investors awaited a report on pending home sales amid optimism central banks will maintain stimulus plans.

The S&P 500 rose 0.4 percent to 1,588 at 9:31 a.m. in New York. The gauge has climbed 1.1 percent in April, extending its longest streak of monthly gains since September 2009.

“There’s just a positive tone to the market in part because recent lackluster economic trends have reinforced investors belief that the Federal Reserve will continue to press on the gas pedal,” Chad Morganlander, a Florham Park, New Jersey-based fund manager at Stifel Nicolaus & Co., which oversees about $130 billion, said by telephone.

An index of pending home sales increased 0.9 percent in March, after decreasing 0.4 percent the previous month, economists forecast before the National Association of Realtors releases the figures at 10 a.m. in Washington.

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corn futures and options news

corn futures reach higher

April 29th, 2013

Corn futures reached a one-week high in Chicago on speculation a government report will show planting slowed in the U.S., while forecasts for cooler weather may further curb sowing. Wheat rose.

Four percent of corn crops in the major U.S. producing states were planted as of April 21, behind the five-year average pace of 16 percent, the Department of Agriculture said April 22. The agency is scheduled to update its weekly crop progress report today. Much of the Midwest, from Missouri to Michigan, had double the normal rainfall in the past two weeks, National Weather Service data show.

The USDA report may “show only minimal seeding activity took place last week, meaning crop concerns will remain heightened,” Luke Mathews, a commodity strategist at Commonwealth Bank of Australia (CBA), wrote in a report today. “The outlook for later this week shows cool, wet weather plaguing the U.S. Midwest once again, meaning spring crop development will slip even further behind schedule.”

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silver futures and options news

silver futures move higher

April 29th, 2013

Silver Futures – The slump in silver this month has spurred demand for products from Silver Bullion Pte, one of Singapore’s largest suppliers of coins and bars to retail investors, depleting inventories and doubling delivery times.

Holdings of bars fell to just 54 ounces from 60,000 ounces two and a half weeks ago, according to founder Gregor Gregersen. It now takes at least six weeks for new supplies to arrive in the country up from two to three weeks previously, he said. The company, set up in 2009, counts the Perth Mint in Australia and the Royal Canadian Mint among its suppliers.

Gregersen’s comments add to signs from across Asia that the plunge in silver, as well as gold, has triggered higher demand from physical buyers who see an opportunity to expand holdings. While silver has led declines in commodities this year, losing 20 percent in New York, the amount held in exchange-traded products worldwide remains 2.3 percent higher in 2013. The metal is used both as an investment as well as by industry.

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gold futures and options news

Gold futures move higher

April 24th, 2013

Gold futures rose for the fourth time in five sessions as investor demand for coins surged amid a slump in exchange-traded products backed by the metal.

Britain’s Royal Mint sold more than three times the amount of coins this month than a year earlier after prices dropped the most in three decades, while the U.S. Mint ran out of its smallest American Eagle coin. Last week, futures plunged 7 percent, the most since September 2011, and ETP holdings headed for a record monthly plunge.

“Support for gold prices is coming from the cash market,” Jeffrey Friedman, a senior commodity broker at RJO Futures in Chicago, said in a telephone interview. “There’s still a bearish tone to things, but a lot of the weak longs have been flushed out. People who take physical delivery of gold tend to hold onto it for a while.”

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lean hog futures news

Hog futures rise

April 24th, 2013

Hog futures prices advanced the most in a week on signs of increasing demand for U.S. pork as temperatures rise and consumers buy more meat for grilling. Cattle also gained.

Wholesale pork prices increased 1.1 percent to 86.41 cents a pound yesterday, the highest since Feb. 1, government data show. The northwestern half of the Midwest has been at least 5 degrees below normal this month, and temperatures should rise to closer to normal for the next 6 to 15 days, according to Commodity Weather Group LLC in Bethesda, Maryland. More consumers tend to grill outdoors in warmer weather, boosting meat demand.

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crude oil futures brokers

Crude oil futures rises

April 24th, 2013

Crude Oil Futures – West Texas Intermediate crude rose to a one-week high amid speculation that the European Central Bank will cut its key interest rate to a record low. Futures maintained gains after a report showed that U.S. supplies rose less than analyst estimated.

Prices climbed as much as 1.9 percent as banks including UBS AG and Royal Bank of Scotland Group Plc (RBS) forecast that the ECB will cut borrowing costs to 0.5 percent. The Energy Information Administration said supplies rose 947,000 barrels to 388.6 million. Inventories were projected to increase 2 million barrels, according the median of 11 analyst responses in a Bloomberg survey.

“The world’s central banks are in the driver’s seat right now,” said David McAlvany, chief executive officer of McAlvany Financial Group in Durango, Colorado, which manages $520 million. “The market is well supplied and demand is weak. The fundamentals indicate that prices should be $5-to-$10 lower.”

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silver options trading

silver futures rise

April 24th, 2013

Silver Futures – Silver demand climbed 0.9 percent in 2012 as investors bought exchange-traded products backed by the metal, Thomson Reuters GFMS Ltd. said.

Demand rose to 1.048 billion ounces from 1.039 billion a year earlier, GFMS said in a report published today by the Washington-based Silver Institute. Investors bought 160 million ounces as the value of holdings in ETPs rose to a record $18.9 billion at yearend, up 16 percent from a year earlier, the report said.

Silver prices gained 8.3 percent in New York last year as the U.S., China and Japan announced stimulus measures to shore up their economies, boosting the appeal of precious metals as a store of value. The metal has plunged 24 percent in 2013 as subdued inflation and a rally in equities cut demand. Slowing growth in China, the world’s second-biggest buyer, may crimp silver’s use in industrial applications.

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mini dow jones futures news

Dow Jones futures little changed

April 24th, 2013

Dow Jones Futures – U.S. stock futures were little changed, after the Standard & Poor’s 500 Index gained for a third day, as durable goods orders fell and investors watched earnings at companies from Procter & Gamble Co. to Apple Inc.

Ford Motor Co. and Boeing Co. advanced after reporting first-quarter earnings that topped estimates. Apple Inc. dropped 2.8 percent after reporting its first profit decline in a decade. P&G fell 3.3 percent after its full-year earnings forecast missed analyst projections.

Futures on the Standard & Poor’s 500 Index expiring in June fell 0.1 percent to 1,572.70 at 8:36 a.m. in New York. The S&P 500 rose for a third day yesterday, after a false report of explosions at the White House had briefly erased gains. Contracts on the Dow Jones Industrial Average added 8 points, or 0.1 percent, to 14,652 today.

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cocoa futures trading news

cocoa futures rebound

April 23rd, 2013

Cocoa futures rebounded in London on speculation producing nations in West Africa, the main growing region, have sold a lot of their crops, removing some hedging pressure from futures markets. Coffee and sugar slid.

Producing countries may have sold up to 250,000 metric tons of cocoa in the past 10 to 15 days, according to London-based futures and options brokerage Marex Spectron Group. Prices fell as much as 1.3 percent in London yesterday as money managers boosted bets on higher prices to this year’s high in the week ended April 16, leaving the market vulnerable to liquidation.

“Cocoa collapsed yesterday because speculators bought more -mostly covering shorts- than initially thought,” Eric Sivry, head of agriculture options brokerage at Marex Spectron, said by e-mail today. “With origins having sold a lot recently, selling pressure has been slightly removed.”

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currency futures trading

yen futures gain

April 22nd, 2013

Japanese Yen Futures – The yen gained for the first time in five days after traders failed to push the currency through 100 per dollar, a level it last weakened to four years ago.

The euro fluctuated versus the dollar amid signals from European Central Bank policy makers that interest-rates may be cut to boost economic growth. The yen slid earlier versus the greenback after the Group of 20 offered no opposition last week to the Bank of Japan’s monetary-stimulus policies. Sterling rose amid bets data this week will show the U.K. avoided falling back into a recession last quarter.

“A lot of the time, people wait to see the move before they then get involved,” Douglas Borthwick, a managing director and head of foreign exchange at Chapdelaine FX, a unit of Tullett Prebon Plc, in New York, said in a telephone interview. “Certainly 100 would be a level whereby if you see that move through 100, then you’d see a lot more interest to get involved in the trade.”

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