May 18th, 2012

Corn Futures – Corn traders are the most bullish since March on mounting concern that hot and dry weather will curb U.S. yields at a time of accelerating demand from China, the second largest buyer of U.S. farm goods.

Nineteen of 27 analysts surveyed by Bloomberg expect prices to gain next week and three were neutral, the highest proportion since March 30. Iowa, Illinois and Indiana, which produce 40 percent of the U.S. crop, are poised for a seventh consecutive month of above-normal temperatures, the most since 1895, T-Storm Weather LLC said yesterday. U.S. export sales of corn surged 83 percent in the week ended May 10, from a week earlier, U.S. Department of Agriculture data show.

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May 17th, 2012

Crude oil futures fluctuated in New York as Enbridge Inc. (ENB) and Enterprise Products Partners LP (EPD) prepared to reverse flows on their Seaway pipeline, and as investors speculated Spanish banks may have their credit ratings lowered.

West Texas Intermediate crude, the U.S. benchmark, rose as much as 1.2 percent on the day of the scheduled switch to relieve a U.S. supply glut. Futures retreated on speculation that Moody’s Investors Service will reduce the ratings today. Brent oil in London fell to the lowest level since Jan. 3 after the European Central Bank suspended lending to some Greek firms.

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May 15th, 2012

Orange Juice futures – Investors are squeezing every last drop out of the orange-juice futures rout.

Frozen orange-juice concentrate futures are on the move again, dropping more than 3% to their lowest level since November 2009.

Traders say not only are investors still closing out bets that prices will rise, but more bets that prices will fall are entering the market as well.

Orange juice futures for July delivery on the ICE Futures U.S. exchange was 3.5% lower at $1.1250 a pound in afternoon trade, having recovered slightly from an intraday low of $1.1175/lb.

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May 17th, 2012

Wheat futures gained for a fourth day, the longest winning streak since January, on speculation dry weather in the U.S., Australia and Russia will curb yields in the world’s three biggest shippers this year.

Wheat futures for July-delivery contract gained as much as 1.4 percent to $6.4775 a bushel, extending yesterday’s 5 percent jump, the biggest advance for the most-active contract since March 30. It was up 0.4 percent at $6.41 by 11:24 a.m. in London.

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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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