corn futures

corn futures brokers

April 28th, 2014

Corn futures advanced for a third day, poised for the longest run of monthly gains since 2010, after the U.S. Department of Agriculture said planting in the world’s largest producer and exporter trailed a five-year average.

The contract for July delivery climbed as much as 0.7 percent to $5.1725 a bushel on the Chicago Board of Trade and was at $5.1675 by 11:45 a.m. in Singapore. Prices are set to advance a fourth month, the longest rally since October 2010.

About 19 percent of the corn crop was planted as of April 27, the USDA said yesterday. While that compares with 6 percent a week earlier, it is behind the 28 percent completed on average in the prior five years, it said. Slow planting progress has seen the large risk premium that built through March remain in the market, Macquarie Group Ltd. said in a report yesterday.

“We’re still lagging the 5-year average,” Luke Mathews, a commodity strategist at Commonwealth Bank of Australia, said by phone from Sydney today. While “U.S. corn farmers can plant at a very rapid rate when conditions improve, there might be some underlying support being provided by the slow pace that we’ve observed to date.”

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wheat options

wheat futures

April 24th, 2014

Wheat futures climbed for a fourth day on speculation that escalating tension between Russia and Ukraine may disrupt supplies from the Black Sea region and boost demand for the U.S. grain.

The contract for July delivery rose as much as 0.7 percent to $7.01 a bushel on the Chicago Board of Trade, and was at $6.9825 by 10:23 a.m. in Singapore. Futures jumped 2 percent yesterday for the biggest increase since April 15. A fourth day of gains would be the longest such streak since Feb. 19.

U.S. Secretary of State John Kerry accused Russia of not keeping its word on an accord forged in Geneva last week after Ukraine’s killing of five rebels spurred Russia’s military to begin new drills on the nations’ shared border. The U.S. is the top wheat shipper, while Russia ranks fifth followed by Ukraine.

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e-mini s&p futures

S&P 500 Futures

April 28, 2014

S&P 500 stock-index futures rose, following the Standard & Poor’s 500 Index’s decline last week, amid an increase in mergers-and-acquisitions activity.

Pfizer Inc. advanced in early New York trading after proposing to buy AstraZeneca Plc for about 58.8 billion pounds ($98.7 billion). General Electric Co. gained 0.6 percent after Siemens AG made a competing offer to take over Alstom SA. Technology companies including Google Inc. and Facebook (FB) Inc. rebounded in early New York trading after last week’s selloff.

Futures on the S&P 500 expiring in June climbed 0.4 percent to 1,866.6 at 7:23 a.m. in New York. The equity gauge declined last week, erasing gains in the final session, as disappointing results from Amazon.com Inc. triggered a selloff in technology shares and tensions over Ukraine intensified. Dow Jones Industrial Average contracts increased 57 points, or 0.4 percent, to 16,381 today.

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crude oil options

crude oil futures

April 25th, 2014

Crude oil futures fell to the lowest level in two weeks, widening the discount to Brent, as U.S. equities slipped and oil stockpiles expanded.

Prices dropped as much as 1.4 percent, following the Standard & Poor’s 500 Index (SPX) amid disappointing corporate earnings. WTI headed for a weekly decline as inventories reached the highest level since government weekly data started in 1982. Brent fell less than WTI on concern the Ukraine crisis may disrupt global supplies.

“I don’t see anything physical or fundamental that’s bullish for oil,” Kyle Cooper, director of commodities research at IAF Advisors in Houston, said today in a telephone interview. “Equities are falling. The petroleum market is driven by short-term money flows. We probably will test $100.”

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coffee futures prices

coffee futures investing

April 24th, 2014

Brazil’s drought made arabica coffee this year’s best-performing commodity. Now, farmers are facing a downpour that is once more threatening crops.

An unprecedented three months with almost no moisture eroded crop prospects for the world’s largest grower, signaling the first global shortages in five years, according to Marex Spectron, a brokerage. As farmers harvest the bulk of the crop from May through July, forecaster Somar Meteorologia predicts an El Nino weather pattern will drop enough moisture in the South American country to cause more damage.

Hugo Villas-Boas estimates trees on 400 acres he owns near Guaxupe, in the state of Minas Gerais, will yield as much as 30 percent less because of the dry spell. The 64-year-old farmer said mid-year rains will mean “worse losses.” Prices that almost doubled this year to a 26-month high may surge 20 percent further by the end of December to $2.54 a pound, a Bloomberg survey of 19 analysts showed, boosting costs for buyers including Nestle SA.

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orange juice brokers

orange juice futures

Orange-juice prices rose to the highest level in two years on expectations of a limited crop from Florida, the source of most of the oranges used in U.S. juice.

Frozen concentrated orange juice for May delivery rose 1.15 cents, or 0.7%, to end at $1.65 a pound, the highest since March 29, 2012, on the ICE Futures U.S. exchange.

The rally followed a report by the U.S. Department of Agriculture earlier this past week that lowered the estimate for Florida’s current crop to 110 million 90-pound boxes of oranges, down 12% from its initial estimate. That would be the smallest orange harvest in nearly three decades.

It was the fourth time since November that the USDA had cut its forecast for Florida oranges, highlighting the severity of an outbreak of citrus greening in the state. The bacterial disease has spread to every orange-growing county in Florida, stunting fruit growth and causing it to fall from trees prematurely.

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sugar options

Sugar Futures

April 23rd, 2014

Sugar output in Brazil’s Center South, the world’s largest producing region, will decline 5.2 percent this season after crops were hurt by drought.

Mills will produce 32.5 million metric tons of the sweetener in the current 2014-15 harvest, down from 34.3 million in the previous season, Brazilian sugar industry group Unica said in a statement distributed in Sao Paulo today.

Crops in the Center South, where most of Brazil’s sugar and ethanol are produced, faced the driest and hottest summer in 70 years, according to Somar Meteorologia.

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soybean brokers

soybean futures

April 23rd, 2014

Soybeans fell to a one-week low to head for the longest slump since July amid concern that demand will decrease in China, the world’s biggest importer.

Futures for July delivery lost as much as 0.4 percent to $14.65 a bushel on the Chicago Board of Trade, the lowest level for a most-active contract since April 15. Prices were at $14.655 by 12:55 p.m. in Singapore, declining for a fourth straight session.

The pace of soybean exports from the U.S. and South America will probably slow through the end of the season as Chinese demand declines because of ample stockpiles, according to Oil World. There are reports that China will soon auction 3 million metric tons of state reserves, which equates to roughly one-third of total inventories, Commonwealth Bank of Australia said in a note today.

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coffee options

coffee futures brokers

April 22nd, 2014

Coffee futures – arabica, the benchmark for high-quality beans, have nearly doubled this year on the ICE Futures U.S. exchange, amid the worst drought in decades for top-grower Brazil.

Prices for arabica beans, typically used in gourmet blends and prized for their mild flavor, have surged 95% through Tuesday morning’s intraday high of $2.1570 a pound, a 26-month high for the most-actively traded contract.

But that rally in prices has been slow to drip down to consumers. During the four weeks ended March 23, the average price per unit of ground coffee in the U.S. was actually down 30 cents from a year ago at $6.26, according to IRI, a Chicago-based market research firm. Whole coffee beans dropped 47 cents per unit during the same time period to $8.65, IRI data shows.

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April 17th, 2014

Wheat futures rebounded in Chicago on speculation that turmoil in Ukraine and drought in the U.S. will disrupt supplies.

Top diplomats from Ukraine and Russia will meet today for the first time since clashes erupted in Ukraine’s restive east, accompanied by U.S. and European Union counterparts poised to impose new sanctions if talks fail. Ukraine is the sixth-largest shipper of wheat.

“There’s been some underlying bullish factors with Ukraine and Russia and that has escalated so that’s got interest back on that area,” Nathan Cattle, senior commodity analyst at Profarmer Australia, a unit of NZX Ltd., said by phone from Melbourne. “The other one is U.S. winter wheat conditions. Everyone’s looking at the forecast.”

Wheat futures for July delivery climbed 0.5 percent to $6.99 a bushel by 6:49 a.m. on the Chicago Board of Trade, after falling 2 percent yesterday. Milling wheat futures in Paris dropped 0.7 percent.

While rains in the southwest Plains on April 19 and the east-central Plains on April 20 will improve moisture for wheat, significant reductions in drought and crop stress are not anticipated, MDA Information Systems LLC said in a report yesterday.

Soybeans in Chicago extended gains to a 10-month high, rising as much 0.8 percent to $15.21 a bushel and corn climbed 0.2 percent to $5.045 a bushel.

- Phoebe Sedgman in Melbourne at Bloomberg.