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November 12th, 2012
Commodity Futures – Speculators cut bullish commodity wagers by the most in five months as prices had their biggest gain in eight weeks on mounting speculation that stimulus measures will bolster economic growth.
Hedge funds and other large speculators lowered combined net-long positions across 18 U.S. futures and options by 11 percent to 931,048 contracts in the week ended Nov. 6, the biggest cut since June 5, Commodity Futures Trading Commission data show. Holdings have dropped for five weeks, the longest slump since April. Gold wagers fell to the lowest since August before prices gained the most since January.
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July 29th, 2012
Hedge funds raised commodity bets in the longest bullish streak in three years as speculation that policy makers will increase economic stimulus drove prices toward the biggest monthly rally since October.
Money managers raised their net-long positions across 18 U.S. futures and options by 3.4 percent to 1.17 million contracts in the week ended July 24, U.S. Commodity Futures Trading Commission data show. Wagers gained for seven weeks, the longest increase since June 2009. Corn bets climbed to the highest since September 2011, and traders are the most bullish on natural gas since October 2006.
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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.
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June 22nnd, 2012
Commodity Futures – 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.
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June 11th, 2012
Commodity Futures – Goldman Sachs Group Inc. (GS) predicted a 29 percent return over the next year from the Standard & Poor’s GSCI Enhanced Commodity Index, led by energy and industrial- metals investments.
European policymakers will be able to contain the euro-area debt crisis, while recovery in the U.S. and China is set to continue, Jeffrey Currie, head of commodities research in New York, said today in a report. Returns may be 41 percent in a year for energy investments, compared with 23 percent for industrial metals and 18 percent for precious metals, while agriculture is forecast to lose 14 percent, the report showed.
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June 8th, 2012
Commodity Futures: Commodities fell a second day, heading for the longest weekly losing streak in 11 years, on concern slowdowns in China and the U.S., the world’s two biggest economies, will cut demand.
The Standard & Poor’s GSCI gauge of 24 commodities retreated 2 percent by 1:30 p.m. London time, bringing the drop to 0.2 percent this week. That’s the sixth weekly decline and the longest losing streak since March 2001. New York oil declined 2.9 percent and copper in London slumped 3 percent.
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May 31st, 2012
Commodity Futures – Revenues generated by the 10 largest banks’ commodity units slumped 33 percent in the first quarter as volatility declined, clients reduced trading and gas supplies climbed, according to Coalition, a London-based research company.
Revenues fell to a combined $2 billion from $3 billion a year earlier, Coalition said in a report. Overall revenues at the banks, including from equities, origination and advisory, declined to $51 billion from $53 billion, Coalition said.
The drop in commodity revenues reflects the challenge banks face driving income from energy and metals. Goldman Sachs Group Inc. (GS) Chief Financial Officer David A. Viniar said in April that lower volatility had reduced opportunities in the quarter. The Standard & Poor’s GSCI Spot Index of raw materials rose 6.8 percent in the smallest quarterly move since 2010.
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May 31st, 2012
Commodity Investing – Commodities fell for a third day and are poised for the biggest monthly loss since the recession of 2008 as Europe’s escalating debt crisis dimmed prospects for demand and sent crude oil into a so-called bear market.
The Standard & Poor’s GSCI Spot Index of 24 raw materials dropped 1.1 percent to 596.96 at 11:15 a.m. in New York, down 13 percent in May, the most since November 2008. Earlier, the gauge slipped to 595.8, the lowest since Oct. 6. Crude oil is set for the biggest monthly decline since December 2008 in New York, while copper slumped 12 percent.
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May 23, 2012
Commodity Futures – Commodities dropped to a five-month low, extending this year’s decline, on mounting concern that Greece will leave the euro, roiling financial markets and eroding the outlook for raw-material demand.
The Standard & Poor’s GSCI gauge of 24 raw materials fell 1.6 percent to 617.96 at 3:15 p.m. in New York, after touching 613.95, the lowest since Dec. 19. The index is down 4.2 percent this year, heading for the first annual decline since the recession of 2008.
Equity markets fell from Asia to the Americas and the euro dropped to its weakest level against the dollar since July 2010 on speculation that European Union leaders meeting today will provide no new measures to stem the sovereign-debt crisis. Greece is preparing for elections on June 17, after winners in a vote this month failed to create a government.
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May 21st, 2012
Commodity Brokers: CME Group Inc. (CME), the world’s largest futures exchange, extended grain-trading hours today in response to the threat of competitors seeking a share of the electronic transactions that now dominate the market.
Access to the CME’s Chicago Board of Trade, which first offered corn futures in 1877, is rising to 21 hours a day from 17, a week after the 12-year-old IntercontinentalExchange Inc. (ICE), or ICE, introduced a 22-hour session and its first-ever grain contracts. The Kansas City Board of Trade and Minneapolis Grain Exchange also start expanded hours today.
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