gasoline futures

gasoline futures

June 30th, 2014

Commodity Speculators boosted bets that gasoline prices will rise on prospects for the most Independence Day traffic in seven years and fighting in the Middle East.

Money managers increased net-long positions by 7.6 percent in the week ended June 24, U.S. Commodity Futures Trading Commission data show. Long positions advanced 5.5 percent and shorts fell 0.3 percent.

Americans traveling by car over the July 4th weekend will pay the most for fuel since 2008, AAA said last week. Pump prices are at the highest level for the period in six years, data from the motoring organization show. Gasoline advanced with crude this month after insurgents captured the northern Iraqi city of Mosul and advanced toward Baghdad.

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s&p 500 futures

s&p 500 futures

June 27th, 2014

U.S. stocks rose, paring a weekly drop for the Standard & Poor’s 500 Index, as equities reversed losses in the final hour of trading amid Russell Investments’ annual revisions to its benchmark indexes.

Nike Inc. (NKE) added 1.1 percent after the largest sporting-goods maker posted profit that beat analysts’ estimates. GoPro Inc. (GPRO) rallied for a second day after going public. DuPont fell 3.3 percent after the maker of genetically-modified corn trimmed its profit estimate as farmers switched to soybeans. Dollar General Corp. sank 7.3 percent after the company’s chief executive said he would retire.

The S&P 500 increased 0.2 percent to 1,960.96 at 4 p.m. in New York after losing 0.3 percent earlier. The benchmark index has advanced 4.7 percent this quarter, its sixth straight gain for the longest winning streak since 1998. The Dow Jones Industrial Average rose 5.71 points, or less than 0.1 percent, to 16,851.84 today following an earlier drop of as much as 72 points. The Russell 2000 (RTY) Index of smaller stocks increased 0.7 percent on trading volume 161 percent higher than the 30-day average.

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dow jones futures brokers

Dow Jones Investing

June 26th, 2014

U.S. stocks dropped as data showed consumer spending grew less than forecast in May and a Federal Reserve official said interest rates may rise by March. Treasuries climbed with emerging-market equities and oil slid.

The Standard & Poor’s 500 Index slipped 0.1 percent to 1,957.22 at 4 p.m. in New York, paring an earlier drop of as much as 0.8 percent. The yield on 10-year Treasuries fell three basis points to 2.53 percent, the lowest level in three weeks. The Stoxx Europe 600 Index declined less than 0.1 percent, erasing an earlier advance of 0.3 percent. The MSCI Emerging Markets Index jumped 0.6 percent. Oil slid 0.6 percent to a two-week low and gold futures lost 0.4 percent.

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soybean futures

soybean futures

June 26th, 2014

Soybean futures climbed for a second day in Chicago as a jump in U.S. exports added to supply concerns amid declining stockpiles and flooding in parts of the nation’s Midwest region that may curb yields.

U.S. shippers sold 317,200 metric tons of the oilseed for delivery before Aug. 31, the most since the last week of February, the Department of Agriculture said today. Total sales since Sept. 1 are up 24 percent from a year earlier, above the 20 percent increase forecast by USDA this year, agency data show.

“Exports sales were better than expected and that means tighter supplies before the harvest,” Mark Schultz, the chief analyst for Northstar Commodity Investment Co. in Minneapolis, said in a telephone interview. “People are speculating that too much rain may cut planted acreage and take the top end of U.S. soybean yields.”

Soybean futures for November delivery rose 1 percent to $12.4125 a bushel at 11:39 a.m. on the Chicago Board of Trade. Prices climbed 0.4 percent yesterday.

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corn options

corn options

June 26th, 2014

Iowa farmer Julius Schaaf isn’t waiting for his corn to grow kernels before he sells this year. As last season’s record harvest spurs bulging inventories, he’s playing it safe, even as most growers hold onto their grain.

“We had perfect planting conditions, and everything is in place to produce a big crop,” said Schaaf, 61, who has already sold 70 percent of the grain he plans to produce on 3,800 acres of corn and soybeans near Randolph, Iowa. That compares with the 25 percent he would normally have sold by this time of year. “I feel pretty good with my hedge positions, because it is evident that prices will take a downturn. With above-average yields, it will be close to break-even.”

A bumper harvest in 2013 means stockpiles in the U.S., the world’s biggest grower, are rising at the fastest pace in nine years, according to traders and analysts surveyed by Bloomberg. Ample rains and warm weather boosted early crop development for this season and allowed farmers to plant more than the government estimated in March, a separate survey showed. Prices will fall about 9.5 percent in six months, Goldman Sachs Group Inc. forecasts.

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sugar futures brokers

sugar futures brokers

June 25th, 2014

Dry weather is hurting sugar-cane crops in Brazil’s Center South, the main growing region, compounding damage from a drought in the first quarter, an industry researcher said.

Yields this season will drop to 71 metric tons of cane per hectare, compared with about 79 tons last year, Julio Maria Borges, the head of Sao Paulo-based Job Economia & Planejamento, said in a telephone interview.

In the past month, areas near Ribeirao Preto, Sao Paulo, in the heart of the cane belt, received as little as 25 percent of average rainfall, according to MDA Weather Services. Western Minas Gerais and southeast Goias state, have also been “very dry,” and the pattern is expected to extend in the next six to 10 days, said Donald Keeney, a meteorologist with the Gaithersburg, Maryland-based forecaster.

“There is no good news for the crop,” Borges said. “The cane condition is very poor, and the agricultural yield, or total cane, will probably be lower in the second half of the harvest” that started April 1, he said.

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Orange Juice Fresh-Squeezed Gains

On June 25, 2014, in orange juice futures news report, by Infinity Trading
orange juice futures

orange juice futures

June 24th, 2014

Even the most obscure commodities can be profitable if an investor strikes at the right time.

And, as Wall Street Daily Founder, Robert Williams, recently pointed out, there’s a juicy opportunity in oranges [1] right now.

That’s because orange juice exports to overseas markets are exploding, even as supplies shrink to a 29-year low.
Putting the Squeeze on Crop Yields

Florida is the world’s second-largest orange producer, and right now its orange crop is dwindling. In fact, the Department of Agriculture announced not long ago that the Florida orange crop will be the smallest since 1985!

So it’s not surprising that the price of orange juice has jumped 18% in 2014.

The poor crop collection is being partly attributed to an infestation of Asian citrus psyllids, gnat-sized insects that carry a bacterial disease that causes oranges to shrink and drop off the tree early.

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gold futures

gold futures

June 24th, 2014

Gold rose to a two-month high as U.S. home prices rose at a slower pace than forecast and business confidence in Germany eroded, boosting the appeal of the metal as a haven. Silver climbed to the highest since March.

The S&P/Case-Shiller index of property values in 20 U.S. cities increased 10.8 percent in the 12 months that ended April 30, the smallest in more than a year, data showed today. In Germany, Europe’s largest economy, business confidence fell to the weakest this year amid signs of slower economic growth.

Gold futures have climbed 6 percent this month, partly on concerns that gains in the global economy will be muted. On June 11, the World Bank cut its growth forecast. Federal Reserve policy makers led by Chair Janet Yellen said last week that U.S. interest rates will remain low for a considerable time.

“The weaker home prices in the U.S. and negative news out of Europe are giving gold a bump,” Fain Shaffer, the president of Infinity Trading Corp. in Indianapolis, said in a telephone interview. “We’re also still moving higher from Yellen’s statements last week.”

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crude oil brokers

crude oil brokers

June 24th, 2014

West Texas Intermediate and Brent crude rose, approaching nine-month highs, as an al-Qaeda offshoot consolidates its control over areas of Iraq, OPEC’s second-largest producer.

Iraqi forces have been battling the Sunni Islamic State in Iraq and the Levant for control of the Baiji refinery north of Baghdad for almost two weeks. Russian President Vladimir Putin asked lawmakers in the upper house of parliament to rescind approval they granted to use force in Ukraine. A government report tomorrow is projected to show that U.S. crude supplies fell a fourth week.

“The situations in Iraq and Ukraine continue to support the market,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. “Things were a little overdone so prices retreated yesterday, but that move’s run its course. We are going to continue to trade near nine-month highs as long as fears about Iraqi supply remain.”

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unleaded gasoline futures

gasoline futures

June 23rd, 2014

Gasoline in the U.S. climbed this week, boosted by a surge in oil, and is expected to reach the highest level for this time of year since 2008.

The pump price averaged $3.686 a gallon yesterday, up 1.2 cents from a week earlier, data posted on the Energy Information Administration’s website late yesterday show. Oil, which accounts for two-thirds of the retail price of gasoline, gained $2.49 a barrel on the New York Mercantile Exchange in the same period and $4.88 in the month ended yesterday.

The jump in crude, driven by concern that the crisis in Iraq will disrupt supplies, may boost pump prices by 10 cents a gallon at a time when they normally drop, according to forecasts including one from the EIA.

“If things deteriorate even more, the spike could be even bigger than that,” Phil Flynn, a senior market analyst at Price Futures Group in Chicago, said by telephone. “If it weren’t for the situation in Iraq, gasoline would be coming down by now. This will probably keep it elevated all summer. It’s really disappointing.”

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