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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 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 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.
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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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May 18th, 2012
Commodity Futures – As of May 10, there will be more diversity in silver futures. On that day, the Shanghai Futures Exchange (SFE) will begin trading silver contracts, providing Chinese investors with direct access to the market. Regulators hope that this new trading option will provide China with a pricing mechanism, a tool to control price volatility, and that it will be beneficial to silver-related enterprises. Market watchers suggest that SFE contracts could prove bullish for silver prices and that they could make market manipulation more difficult.
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May 17th, 2012
Commodity Futures – Hong Kong Exchanges & Clearing Ltd., one of three remaining bidders for the London Metal Exchange, should lose government protections against competition if it begins trading commodities, said William Barkshire, chief operating officer of Hong Kong Mercantile Exchange.
Hong Kong Exchanges, Intercontinental Exchange Inc. and CME Group Inc. are the remaining contenders for the LME, which handles more than 80 percent of global metals futures, after NYSE Euronext, the biggest U.S. exchange owner, was removed from the bidding. The Chinese bourse was overtaken as the world’s largest market company by CME Group this year and is seeking to broaden its business as the pipeline of large initial public offerings from the mainland slows.
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May 16th, 2012
Commodity Investing – Commodities fell as talks to form a Greek government failed, boosting speculation that the country may quit the euro, and data from the U.S. and Japan added to concern an economic slowdown may reduce demand.
The Standard & Poor’s GSCI Spot Index of commodities lost as much as 1.5 percent to 626.57, the lowest level since Dec. 20. The gauge, set for to drop for the 10th day in 11 sessions, was at 627.16 at 8:48 a.m. in London. Oil fell for a fourth day in New York, trading at a six-month low, and copper dropped to the lowest price since January in London. Gold declined.
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