butter futures

butter futures

August 29th, 2014

Butter futures reached an all-time high in Chicago as Americans’ rising appetite for the fatty dairy spread and rising exports erode U.S. inventories.

Domestic consumption is projected to rise 0.8 percent to 788,000 metric tons in 2014, according to the U.S. Department of Agriculture. That would be the second-highest ever in data going back to 1965. Shipments in the first six months of the year were up 42 percent from 2013. Demand is rising as milk production trailed analyst expectations, while fat content, used to make butter, is also dropping, according to Eric Meyer, the president of Chicago-based HighGround Dairy.

Continue reading »

commodity futures

commodity futures

August 28th, 2014

Commodities revenue at the 10 largest investment banks increased to the highest level in two years in the first half because of the performance of power and gas, according to Coalition Ltd.

Raw materials revenue at Goldman Sachs Group Inc., Morgan Stanley (MS) and a further eight companies expanded 21 percent to $3.3 billion from a year earlier, the analytics company said in a report today. It was the only asset class in the fixed income, currencies and commodities division to show an increase, according to data from the London-based company.

Continue reading »

s&p 500 futures

s&p 500 futures

August 25th, 2014

Volatility in U.S. equity markets is near an all-time low and traders have loaded up on bets it has further to fall.

Short holdings on an exchange-traded note tracking the Chicago Board Options Exchange Volatility Index reached a six-month high in August, essentially a bet that the volatility gauge will keep falling. There are about 19 million shares of the iPath S&P 500 VIX Short-Term Futures ETN (VXX) that have been borrowed and sold to speculation on declines, almost three times the level from early June, data compiled by Markit Ltd. shows.

Continue reading »

 

Corn Rises Amid Ethanol Lift

On August 21, 2014, in Corn Futures News Report, by Infinity Trading
corn futures brokers

corn futures brokers

August 21st, 2014

Corn futures advanced following a report that showed rising production of ethanol, a fuel made from the grain, as wheat and soybeans rose ahead of the U.S. government’s weekly export sales report due later today.

U.S. ethanol output rose 0.6 percent to 937,000 barrels a day last week from 931,000 barrels a day in the prior period, the Energy Information Administration reported yesterday.

“Ethanol outpaces last week,” Paul Georgy, the president of Allendale Inc., wrote in a daily comment. “Cheaper corn prices are supporting excellent profit margins.”

Continue reading »

Tagged with:
 
E-mini S&P futures

E-mini S&P futures

August 18th, 2014

U.S. stocks rose, after the biggest weekly gain since July for the Standard & Poor’s 500 Index, as tensions eased over global conflicts and Dollar General Corp. rallied on merger activity.

Dollar General surged 10 percent after offering $9.7 billion for Family Dollar, which rallied 4.8 percent. Delta Air Lines Inc. and Southwest Airlines Co. led gains among industrial companies as oil prices fell. Monster Beverage Corp. (MNST) declined 3.2 percent, dropping from its highest price in at least 24 years, after Jefferies Group LLC downgraded the shares.

The S&P 500 increased 0.8 percent to 1,970.36 at 10:50 a.m. in New York, climbing to within 0.9 percent of an all-time high. The Dow Jones Industrial Average gained 152.04 points, or 0.9 percent, to 16,814.95. The Nasdaq Composite Index jumped 0.8 percent to the highest level since 2000. Trading in S&P 500 companies was 17 percent below the 30-day average for this time of the day.

Continue reading »

crude oil futures

crude oil futures

August 15th, 2014

Brent and West Texas Intermediate crudes advanced after Ukraine said its forces attacked a convoy entering the country from Russia.

Ukrainian troops destroyed “part” of a military column that came from Russia through the rebel-held border post of Izvaryne, Andriy Lysenko, spokesman for Ukraine’s military, told reporters in Kiev. Brent dropped to the lowest level since June 2013 yesterday while WTI settled at a six-month low amid signs of weaker demand and ample global oil supplies.

“When there’s the prospect of ground war in Europe you don’t want to be short oil,” Bill O’Grady, chief market strategist at Confluence Investment Management in St. Louis, which oversees $2.6 billion, said by phone. “Prices have already fallen a lot and the market was ready for a rebound.”

Continue reading »

Tagged with:
 
brent crude oil futures

Brent crude oil futures

August 13th, 2014

Brent oil rose from a 13-month low on speculation prices decreased more than justified given supply threats and the ability to ship excess barrels. West Texas Intermediate advanced.

Futures climbed 1.2 percent in London after falling below $103 for a second day. Brent has slipped in the past month as Libyan and West African production has rebounded. Kurdish forces fought to retake positions overrun by Islamic State fighters in northern Iraq as Prime Minister Nouri al-Maliki tried to cling to power. The Energy Information Administration reported that U.S. crude supplies rose last week while fuel stockpiles fell.

“The Brent market is oversold,” Harry Tchilinguirian, the head of commodity markets strategy at BNP Paribas in London, said by phone. “The correction was overdone given that the surplus supplies in the Atlantic basin can be moved to Asia given how much prices have fallen. North Sea maintenance is reducing supply, putting a floor under Brent.”

Continue reading »

wheat futures

wheat futures

August 13th, 2014

Wheat futures rose after the U.S. lifted the outlook for its exports of the grain as well as for global consumption, blunting the effect of increased production.

The U.S. is expected to ship 25.5 million metric tons of wheat in 2014-15, the U.S. Department of Agriculture said yesterday, lifting its outlook by 500,000 tons. The estimate for domestic ending stocks was little changed even as the agency raised its harvest forecast.

“In wheat, the situation remains largely unchanged in the U.S.,” Paris-based farm adviser Agritel wrote in an e-mailed comment. “Despite an increase in production, the export market improves with an outlook above 25.1 million tons, thus keeping ending stocks close to last month’s estimates.”

Continue reading »

commodity investing

commodity investing

August 11th, 2014

For more than 70 years, Fred Starrh’s family was among the most prominent cotton growers in California’s San Joaquin Valley. Then shifting global markets and rising water prices told him that wouldn’t work anymore.

So he replaced most of the cotton plants on his farm near Shafter, 120 miles northwest of Los Angeles, and planted almonds, which make more money per acre and are increasingly popular with consumers in Asia.

“You can’t pay $1,000 an acre-foot to grow cotton,” said Starrh, 85, crouching to inspect a drip irrigator gently gurgling under an almond tree.

Continue reading »

Tagged with:
 
gold futures brokers

gold futures brokers

August 11th, 2014

Gold futures was little changed in New York trading below a three-week high as investors weighed signs tension in Ukraine and the Middle East is easing.

Global equities rose for a second day after Russia said warplanes ended drills near Ukraine and Israel and militants in the Gaza Strip agreed to an Egyptian-brokered truce. Geopolitical unrest helped gold gain 9 percent this year, with prices reaching a three-week high of $1,324.30 an ounce on Aug. 8 as U.S. President Barack Obama authorized air strikes in Iraq.

Continue reading »