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 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 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.
Continue reading »
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.
Continue reading »
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.
Continue reading »
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.
Continue reading »
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.
Continue reading »
May 29th, 2012
Commodity Futures – The first drop in platinum mine supply in four years and record car sales, the biggest source of demand, are reducing a surplus of the metal and shoring up prices on the brink of a bear market.
Output will drop 4 percent to 6.14 million ounces this year as labor strikes and safety concerns disrupt mining in South Africa, the biggest producer, Barclays Plc estimates. That will diminish the annual glut by 90 percent to 37,000 ounces, the bank predicts. Prices will average $1,750 an ounce in the fourth quarter, 22 percent more than now, the median of 13 analyst estimates compiled by Bloomberg shows.
Continue reading »
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.
Continue reading »
May 22nd, 2012
Crude oil gained for a second day in New York on speculation a strengthening U.S. economy will increase fuel demand and the Obama administration will refrain from easing sanctions against Iran.
Crude oil futures rose as much as 0.5 percent, extending yesterday advance, the first in seven days. The U.S. won’t support relaxing sanctions that are hobbling Iran’s oil exports when negotiators meet in Baghdad tomorrow for a second round of talks on the Persian Gulf nation’s nuclear program, according to officials who declined to be identified because of the issue’s sensitivity. Existing U.S. home sales climbed last month, according to a Bloomberg News survey before a report today.
Continue reading »
May 20th, 2012
Corn futures jumped 9.4% last week, lifted by concerns about tight current supplies and a rally in wheat prices.
The sharp rise came after corn futures had fallen 11% in the month through May 11, dragged down by forecasts for a large U.S. harvest this fall. Analysts still expect the influx of new supplies later this year to weigh on prices, but the continued strong spot-market demand for on-hand corn helped boost prices, highlighting concerns about the immediate availability of the grain.
Chicago Board of Trade corn futures for July delivery on Friday rose 10½ cents, or 1.7%, to $6.35½ a bushel. July futures were up from their close a week earlier of $5.81 a bushel.
Continue reading »