More from Infinity
Start Trading Today!
1-888-456-8090
itc@infinitytrading.com
1-888-456-8090
itc@infinitytrading.com
© 2012 Infinity Trading Corp
June 22nd, 2012
Soybean and corn traders are bullish for a ninth week on mounting concern that dry weather will cut U.S. crop yields at a time when hedge funds are adding to wagers on higher prices.
Twenty-three analysts surveyed by Bloomberg said they expect soybeans to climb next week and three were bearish. A further four were neutral. Twenty expect gains in corn, four predicted a decline and five were neutral. Speculators raised bets on costlier soybeans for the first time in six weeks and increased net-long positions for corn from the lowest level in almost two years in the week ended June 12, U.S. Commodity Futures Trading Commission data show.
Continue reading »
June 25th, 2012
Commodity Futures – Tropical Storm Debby weakened in the Gulf of Mexico off the Florida Panhandle after shifting away from oil- and natural gas-production areas where Anadarko Petroleum Corp., BP Plc and rivals halted output.
Debby’s top winds slipped to 50 miles (80 kilometers) per hour as the storm was almost stationary about 90 miles south- southwest of Apalachicola, Florida, the National Hurricane Center said in a 4 a.m. Central time advisory. The storm is expected to move little in the coming days though restrengthening is possible within 48 hours, the NHC said.
Continue reading »
June 20th, 2012
Commodity Brokers – U.K.-based brokerage house London Commodity Brokers said Wednesday it’s planning to launch in two weeks’ time an online auction exchange platform to buy and sell strategic South African commodities on a spot basis.
The platform is aimed at addressing concerns that South African commodity producers are too fragmented in certain commodities such as ferrochrome to viably extract more value from their resources vis-a-vis Chinese consumers who are more organized with regard to their raw materials purchases.
Continue reading »
June 21st, 2012
Nymex crude-oil futures settled below $80 a barrel Thursday for the first time since October–and Brent crude futures closed below $90 a barrel for the first time since December 2010–as the oil markets were hit by a host of factors, including fresh signs of anemic industrial activity.
Oil futures for light sweet crude on the New York Mercantile Exchange settled at $78.20 per barrel, down $3.25 or 4%, piercing the psychologically important $80-a-barrel level. Brent oil futures, the European benchmark, also declined sharply, dropping $3.46, or 3.7%, to $89.23 a barrel.
Continue reading »
June 23rd 2012
Nymex Exchange – Morgan Stanley will pay a $50,000 fine to the New York Mercantile Exchange, which alleged that the bank overstated open interest in oil futures markets last November, NYMEX parent company CME said in a statement on Friday.
Morgan Stanley, which operates a large commodity trading operation, was found to have overstated open interest in the December, 2001 U.S. crude future contract during trading on November 17, 2011, allegedly violating reporting rules to the exchange, CME said.
The fine was part of a settlement agreement in which the bank admitted no wrongdoing, CME said. Morgan Stanley spokeswoman Mary Claire Delaney declined comment.
Continue reading »