August 1st, 2012

Gold futures declined after Federal Reserve Chairman Ben S. Bernanke held off on increasing stimulus measures, lowering demand for the precious metal.

The Federal Open Market Committee “will closely monitor incoming information on economic and financial developments and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability,” it said today at the conclusion of a two-day meeting. Earlier, a report by ADP Employer Services showed companies in the U.S. added more workers than projected in July.

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August 1st, 2012

Dow Jones Futures – U.S. stocks declined, reversing earlier gains, as the Federal Reserve’s pledge to provide additional support for the economy disappointed investors anticipating a more definitive sign of further monetary easing.

Knight Capital Corp. (KCG), one of the largest market makers of U.S. stocks, plunged 33 percent as it experienced technology issues with trading. MasterCard Inc. (MA), the second-biggest payments network, slumped 2.2 percent as sales missed analysts’ estimates. Comcast Corp. (CMCSA), the largest U.S. cable company, and Allstate Corp. (ALL), the biggest publicly traded U.S. home and auto insurer, rose at least 3 percent as earnings topped projections.

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August 1st, 2012

Corn futures gained, extending the biggest monthly rally in more than two decades as the worst U.S. drought in half a century persists, threatening global supply.

Corn futures for December-delivery gained as much as 1.4 percent to $8.1675 a bushel on the Chicago Board of Trade after jumping to a record $8.205 yesterday. Futures, which surged 27 percent last month, the biggest monthly gain since 1988, traded at $8.15 at 12:31 p.m. Singapore time.

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July 31st, 2012

Gasoline futures declined as Sunoco Inc. (SUN) may start a fluid catalytic cracker today at the largest East Coast refinery and as Enbridge Inc. (ENB) may reopen an oil pipeline tomorrow that serves the Chicago area.

Unleaded gas futures fell as Sunoco plans to start the catalytic cracker today after shutting it July 23 for unplanned work, a person with knowledge of the situation said. Repairs on Enbridge’s 317,000-barrel-a-day pipeline may be completed today.

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July 30th, 2012

Wheat futures are trading up Monday morning, lifted by higher corn prices and worries about reduced wheat harvests in key overseas regions.

In electronic trading, Chicago Board of Trade futures for September delivery are up 16 3/4 cents or 1.9% at $9.14 3/4 a bushel. Kansas City Board of Trade September wheat is up 13 3/4 cents or 1.5% at $9.19 3/4 a bushel. MGEX September wheat is up 9 3/4 cents or 1.0% at $9.81 3/4 a bushel.

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July 30th, 2012

Sugar Futures – Buyers of sugar from Brazil, the world’s largest producer, are paying a bigger premium for their sweetener after futures prices fell and supplies for immediate shipment remain limited, according to Swiss Sugar Brokers.

Raw sugar for loading in August at the port of Santos, Brazil’s biggest, was offered for sale at a premium of 0.4 cent a pound to the price of the October contract on ICE Futures U.S. in New York, the broker said in a report e-mailed today. That compares with a premium of 0.05 cent to 0.1 cent a pound on July 22, data from the broker showed. At the port of Paranagua, the second biggest, sweetener was at a premium of 0.25 cent a pound to the exchange price, according to the report.

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July 30th, 2012

Soybean futures are trading higher Monday morning, as concerns resurge that the severe drought in the Midwest could reduce the soy crop’s harvest potential.

In electronic trading, soybeans for August delivery are up 34 1/4 cents or 2.0% at $17.18 1/2 a bushel at the Chicago Board of Trade, trading at the highest levels in a week. August soybeans reached the all-time intraday high for the front-month contract at $17.77 3/4 a bushel on July 20.

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July 30th, 2012

The euro fell for the first time in four days against the dollar and yen after Spain’s recession deepened, adding to concern the region’s fourth-largest economy will struggle to bring down its debt levels.

The 17-nation currency dropped from near a two-week high versus the yen after a European report showed economic sentiment worsened more than analysts forecast. The European Central Bank announces its next policy decision on Aug. 2 amid speculation President Mario Draghi will signal additional measures to ease the debt crisis. Sweden’s krona rose against all its major counterparts as the economy expanded more than analysts predicted. The pound fell as U.K. mortgage approvals dropped.

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July 26th, 2012

Orange Juice Futures – Orange-juice sales continue to tumble as many U.S. consumers opt out of the popular breakfast beverage due to high prices.

Total domestic retail sales of orange juice were off 5.4% in terms of volume–and 0.6% in terms of revenue–for the four weeks ending July 7 versus the same period in 2011, according to Nielsen data published by the Florida Department of Citrus.

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July 27th, 2012

Natural-gas futures tumbled 3.1% to their lowest settlement price of the week as traders rushed to close out contracts for August delivery before they expired at the end of session Friday.

Natural gas futures for August delivery on the New York Mercantile Exchange settled 9.5 cents, or 3.1%, lower, at $3.010 a million British thermal units. The most-active September delivery settled down 7.5 cents, or 2.4%, at $3.015/mmBtu.

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