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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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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July 28th, 2012

Cotton Futures – Plexus Cotton Limited reported that New York (NY) futures ended the week slightly lower, as December dropped 124 points to close at 71.39 cents.

The cotton market weakened earlier this week after renewed jitters about Spain and Italy led to another “risk off” move by money managers that put pressure on the entire commodity complex, including drought-stricken corn and soybeans.

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July 27th, 2012

Copper futures in London rolled gains into a fourth straight day on Friday, buoyed by growing expectations of further stimulus action from both the U.S. Federal Reserve and the European Central Bank.

Dollar-denominated copper prices received an additional boost from the euro, which rallied to a three-week peak against the greenback after French President Francois Hollande and his German counterpart, Angela Merkel, said they were determined to do all they can to safeguard the euro. <USD/>

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Coffee Futures Arabica Plunge 5.2%

On July 29, 2012, in coffee futures news report, by Infinity Trading

July 24th, 2012

Coffee futures of arabica tumbled Tuesday to a low not seen in more than three weeks, as worries over slowing global economic growth eclipsed evidence that unseasonable rains in Brazil have hurt the quality of this season’s crop for the biggest coffee-grower.

Coffee futures rabica for September delivery settled 5.2% lower at $1.7545 a pound, shedding nearly 9.7 cents.

“The main issue is about global economic strength,” said Newedge analyst Marcio Bernardo. “If we have low economic activity, we will reduce global demand for everything.”

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July 26th, 2012

Gold futures rose for the second day after the European Central Bank president said policy makers will do whatever is needed to preserve the euro and amid increasing expectations of further stimulus measures in the U.S.

“To the extent that the size of these sovereign premia hamper the functioning of the monetary policy transmission channel, they come within our mandate,” ECB President Mario Draghi said today. Orders for U.S. durable goods excluding the transportation category unexpectedly dropped 1.1 percent in June, the most in five months, a Commerce Department report showed, boosting speculation that the Federal Reserve will step up measures to stabilize growth.

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July 26th, 2012

S&P 500 Futures – U.S. stocks rose, snapping a four- day drop in the Standard & Poor’s 500 Index, as European Central Bank President Mario Draghi pledged to defend the euro.

3M Co. (V), the maker of Post-It Notes, and Visa Inc., the world’s largest payments network, added at least 2 percent on better-than-estimated earnings. PulteGroup Inc. (PHM), the largest U.S. homebuilder by revenue, surged 17 percent amid a jump in orders. Sprint Nextel Corp. (S) and MetroPCS Communications Inc. soared at least 19 percent after their results. Facebook Inc. (FB) slumped 6.6 percent ahead of its quarterly numbers.

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Crude Oil Tumbles as Supplies Gain, U.S. Output Surges

On July 25, 2012, in Uncategorized, by Infinity Trading

July 25th, 2012

Crude oil declined after an Energy Department report showed U.S. stockpiles unexpectedly climbed as production surged to the highest level in 13 years.

Crude oil futures fell as much as 1.8 percent after the department said supplies rose 2.72 million barrels to 380.1 million last week. A 1 million-barrel decrease was projected, according to analysts surveyed by Bloomberg. U.S. crude output advanced 1.9 percent to 6.36 million, the highest level since February 1999.

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July 25th, 2012

Corn futures rose in Chicago on speculation rains forecast for parts of the U.S. may fail to reverse crop losses caused by the worst Midwest drought in at least a generation. Soybeans also gained.

Areas of Indiana and Ohio had as much as 0.75 inch of rain yesterday, and parts of the eastern Corn Belt may receive an inch tomorrow, Telvent DTN said. While rain may ease crop stress, “this will not be a drought-breaking situation,” the forecaster said. As of July 22, 86 percent of the corn crop already entered the silking stage, critical for determining yields, Department of Agriculture data show.

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