soybean futures brokers

soybean futures brokers

May 31st, 2016

Can soybean futures regain $11 a bushel, for the first time since September 2014?

They weren’t quite knocking on the door in early deals in Chicago, but were well up the garden path, hitting $10.96 a bushel, for the July contract, before easing back to $10.89 ¼ a bushel as of 08:35 UK time (03:00 Chicago time), a gain of 0.3% on the day.

It may have helped that risk assets were broadly putting on a firm performance as May headed for a close, with Shanghai shares adding 3.0% and Tokyo stocks closing up 3.0%, while oil futures made some headway too, particularly WTI crude, which gained 0.7% to $49.68 a barrel.

But the key reason cited for strength in soybeans was, as ever, worries over the rain-ravaged crop in Argentina, the third biggest exporter of the oilseed, and the top shipper of the processing products, soymeal and soyoil.

Continue reading »

crude oil futures quotes

crude oil futures quotes

May 27th, 2016

The strong rally in oil prices that sent Brent and U.S. crude above $50 a barrel for awhile on Thursday faces technical barriers in the next three to five weeks.

Unexpected oil supply outages, along with technical buy signals, have helped lift Brent and U.S. crude prices nearly 90 percent above 12-year lows hit earlier this year.

Analysts believe the market has now factored in most supply cuts. Two technical analysts on Thursday said oil’s advance will be limited to a few more dollars at most. One was more bullish.

Brent futures (LCOc1) hit $50.51 on Thursday, after sinking to $27.10 on Jan. 20, which was the lowest since July 2003.

U.S. West Texas Intermediate (WTI) futures (CLc1) touched $50.21 on Thursday, up from $26.05 on Feb. 11, which was the lowest since May 2003. [O/R]

Both benchmarks retreated from session highs and settled below $50 a barrel.

Continue reading »

Indianapolis

Indianapolis

May 22, 2016

Dinner prices at St. Elmo Steak House may get cheaper. The number of cattle placed into U.S. feedlots in April jumped 7.0 percent from a year earlier, according to a government report on Friday, far exceeding most analysts’ forecasts.

Feedlots were still operating at a loss, analysts said. But lower prices for young calves allowed feedlots to buy more of them for fattening, which helped shore up sagging bottom lines.

USDA’s data showed the number of heavier cattle placed in April rose almost 12 percent from the year-ago month. Analysts said this could pressure prices for slaughter-ready animals in the fourth quarter.

Continue reading »

St Elmo Steak House

St Elmo Steak House

May 23rd, 2016

Commodity hedge funds raised bets on rising agricultural commodity prices to the highest in nearly two years, provoking concerns of a sell-off in the off – particularly in sugar, in which bullish betting hit a record high.

Managed money, a proxy for speculators, lifted its net long position in futures and options in the top 13 US-traded agricultural commodities, from corn to sugar, by nearly 65,000 contracts in the week to last Tuesday, analysis of data from the Commodity Futures Trading Commission regulator shows.

The buying took the net long – the extent to which long bets, which profit when values rise, exceed short holdings, which benefit when prices fall – nearly to 680,000 contracts, the highest since June 2014, and supporting talk around in the market of funds moving cash into ags.

Continue reading »

coffee futures news

coffee futures news

May 20th, 2016

Brazilian coffee production will soar by 13% this year, but remain short of all-time highs, with a drop in the drought-hit robusta crop offsetting a rise in arabica output to a record top.

In its first estimate for the 2016-17 crop, the US Department of Agriculture’s Brasilia bureau pegged it at 55.95m bags.

That would represent an increase of more than 6.5m bags year on year, but fall short of the record 57.6m-bag harvest reaped four years ago.

This increase is forecast being led by arabica beans, for which the bureau forecast output soaring from 36.10m bags last year to 43.85m bags  – eclipsing the highs of 42.1m bags set in 2012.

Arabica yields are expected to increase due to “good blossoming between September and November 2015 in all producing regions and overall good weather conditions during fruit setting and development”, the bureau said in a report.

Continue reading »

crude oil futures news

crude oil futures news

May 19th, 2016

Crude oil prices tumbled in North American trade on Thursday, adding to sharp overnight losses, as a surging U.S. dollar and an unexpected rise in U.S. crude inventories triggered selling.

The U.S. dollar surged to seven-week highs in early trade after the minutes of the Federal Reserve’s latest policy meeting rekindled expectations for a June interest rate hike.

Dollar-denominated oil futures contracts tend to fall when the dollar rises, as this makes oil more expensive for buyers in other currencies.

Crude oil for June delivery on the New York Mercantile Exchange sank $1.03, or 2.14%, to trade at $47.18 a barrel by 13:50GMT, or 9:50AM ET.

Continue reading »

coffee futures news

coffee futures news

May 17th, 2016

Since drought concerns first emerged in February this year, London robusta coffee prices have rallied by over 25%.

Prices are currently trading at an eight-month high of $1679 per tonne, as drought fears have cut estimates of the 2016/17 crop production from top robusta producing countries including Vietnam, Brazil, Indonesia and, more recently, India.

Coffee Futures: Eyes on skies

With the rainfall season approaching in Vietnam, the country’s Meteorology and Hydrology Department’s (GDMH) in its May statement forecast 20 – 40% lower rainfall in the main producing areas of the South and the Central Highlands.

Current rainfall has been scattered and this will lend little support to production, “so drought and water conditions won’t improve much” in the short-term, according to GDMH.

Continue reading »

Crude oil futures quotes

Crude oil futures quotes

May 9th, 2016

Crude oil rose on Monday after Canada’s most destructive wildfire in recent memory knocked out over a million barrels in daily production capacity, but caution among investors prevented a return to late April’s 2016 price highs.

The lost capacity is equivalent to well over a third of the country’s typical daily production, and almost all of Canada’s crude from oil sands is exported to the United States.

U.S. crude futures (CLc1) rose 65 cents to $45.31 a barrel by 1118 GMT, having risen earlier by as much as $1.28, while Brent crude futures (LCOc1) gained 40 cents to trade at $45.77 a barrel.

The fire, which broke out on May 1, has forced three major oil firms to warn they will be unable to deliver on some contracts for Canadian crude.

The impact of the production loss has been far more marked in the U.S. crude market, where prices for West Texas Intermediate oil for delivery in July are now above those for Brent.

Continue reading »

gold futures news

gold futures news

May 3rd, 2016

Gold futures hovered around the key $1,300-level in North American trade on Tuesday, as investors monitored movements in the currency market while awaiting comments from a pair of Federal Reserve officials.

Gold for June delivery on the Comex division of the New York Mercantile Exchange rose to an intraday peak of $1,303.85 a troy ounce before falling back to $1,299.70 by 12:45GMT, or 8:45AM ET, up $3.90, or 0.3%.

On Monday, gold rallied to $1,306.00, the most since January 2015 as the U.S. dollar crashed to 15-month lows against a basket of other major currencies.

Dollar weakness usually benefits gold, as it boosts the metal’s appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies.

The dollar extended losses against a basket of six major currencies, slipping to a low of 91.89 at one point on Tuesday, its weakest level since January 2015. It last stood at 92.42, down 0.12% for the day.

In early trading, the yen rose to a fresh 18-month high of 105.55 against the dollar, while the euro hit its strongest level since last August at $1.1615.

Continue reading »