crude oil futures news

crude oil futures news

June 24th, 2016

Crude oil futures prices slumped by more than 6 percent on Friday after Britain voted to leave the European Union, raising fears of a broader economic slowdown that could reduce demand.

Financial markets have been worried for months about what Brexit, or a British exit from the European Union, would mean for Europe’s future, but were clearly not fully factoring in the risk of a leave vote.

British Prime Minister David Cameron, who campaigned to remain in the EU, said he would stand down by October.

Brent crude (LCOc1) was down $2.45 at $48.46 a barrel at 1004 GMT. U.S. crude (CLc1) was down $2.39 at $47.72 a barrel.

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live cattle futures

live cattle futures

June 21st, 2016

Chicago cattle prices bounced up from multi-year lows, on technical support, but the market remains under pressure thanks to ample beef supply, and sluggish US demand.

Prices for both live cattle, which are ready for slaughter, and feeder cattle, which are ready for fattening up on feedlots, are under pressure.

Live cattle prices hit a four-year low of 113.725 cents a pound on Monday, while feeder cattle hit a three-year low 134.250 cents a pound.

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natural gas futures brokers

natural gas futures brokers

June 14th, 2016

U.S. natural gas prices remain near 9-month highs

U.S. natural gas futures held near the prior session’s nine-month highs on Tuesday, as forecasts for continued above-normal temperatures across most parts of the U.S. over the next two weeks continued to provide support.

Natural gas for delivery in July on the New York Mercantile Exchange tacked on 1.0 cent, or 0.39%, to trade at $2.594 per million British thermal units by 14:35GMT, or 10:35AM ET.

A day earlier, natural gas futures rallied to $2.635, the most since September 29, as warmer weather lifted cooling demand prospects for the fuel.

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coffee futures news

coffee futures news

June 9th, 2016

Coffee exports from Indonesia, the fourth-ranked bean shipper, fell to the lowest in nearly four years, hurt by the dent to production from dryness blamed on El Nino.

Indonesia’s coffee exports fell to 21,100 tonnes in March, the lowest since April 2012, data from the Indonesia’s Central Bureau of Statistics showed.

Indonesia – the world’s third-largest producer of robusta coffee beans, after Vietnam and Brazil – harvested around 11.4m bags in 2014, according to latest data from the country’s Ministry of Agriculture, Directorate General of Estate Crops.

The Association of Indonesian Coffee Exporters (AICE) has pegged estimates of 2015 output at 11.3m bags and expects output to decline by 8% to 10.4m bags in 2016-17.

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commodity investing 101

commodity investing 101

June 6th, 2016

Speculators lifted bullish positioning on agricultural commodities to the highest in nearly two years, as algorithmic funds flooded in, into sugar at least, – while coffee and wheat caught out investors making bearish bets.

Managed money, a proxy for speculators, raised by more than 64,000 contracts its net long position in futures and options in the main 13 US-traded agricultural commodities in the week to last Tuesday, according to data from the Commodity Futures Trading Commission (CFTC) regulator.

The increase took the net long – the extent to which long positions, which benefit when prices rise, outnumber short bets, which profit when values fall – to 681,515 contracts, the highest since June 2014.

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sugar futures brokers

sugar futures brokers

June 2nd, 2016

Rainy weather in Brazil that is delaying sugar loading at ports encouraged another leg up for sugar prices Thursday.

Raw sugar futures for July delivery rose 3.9% to end at 18.08 cents a pound on the ICE Futures U.S. exchange, its highest close since June 27, 2014.

Raw sugar futures have risen 18.6% since the start of the year, with hedge funds and other money managers piling on bullish bets on the idea that sugar demand will outstrip supply this year and help the world unwind the glut of the sweetener.

But some firms have warned that they think those bets are overdone. Net bullish speculators in sugar reached a record high recently and are only slightly down from that high water mark as of last Tuesday, according to CFTC data.

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crude oil futures news

crude oil futures news

June 2nd, 2016

Crude oil prices were flat to weaker in early Asia on Friday with investors noting the bearish unchanged OPEC production ceiling, but also looking ahead to demand prospects.

On the New York Mercantile Exchange, WTI crude for July delivery was down 0.02% to $49.16 a barrel.

Overnight, crude futures inched up on Thursday, reversing territory late in the session, as a sharp decline in U.S. crude inventories offset a widely expected decision by OPEC to leave its production ceiling unchanged.

On the Intercontinental Exchange (ICE), Bent crude for August delivery wavered between $48.86 and $50.30 a barrel, before closing at $50.00, up 0.28 or 0.55% on the day.

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cocoa futures news

cocoa futures news

June 1st, 2016

Cocoa plantations in Ghana are “in dire need of rainfall”, thanks to sustained West African dryness which threatening both quality and production in Ivory Coast too, the International Cocoa Organization warned.

The ICCO – expanding on an upgrade late on Tuesday by 67,000 tonnes, to 180,000 tonnes, in its forecast for the world cocoa production deficit in 2016-17 – said that the revision reflected largely weaker harvest prospects in West Africa, which is responsible for more than 70% of global output.

“Extreme weather conditions, resulting from the severe Harmattan winds within the West African region, combined with the impact of El Niño, have negatively affected the 2015-16 harvests,” the ICCO said.

In Ivory Coast, the Harmattan – a hot and dry wind blowing in from the Sahara, and which has a history of hurting cocoa yields – is said “to be among the strongest in three decades”.

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