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June 13th, 2012
ICE Futures U.S. a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets announced that ICE Futures U.S. established a daily volume record of 851,852 contracts on June 12, with 801,304 futures contracts and 50,548 options on futures traded during the day. The exchange’s previous daily volume record of 840,591 contracts was set on September 16, 2008.
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June 13th, 2012
CME Group (NASDAQ:CME) observed a record 2,105 short-dated new crop corn options contracts traded on the first day of trading for the product. [1] The trading volume surpassed the previous record of 1,840 soybean calendar spread options traded on the exchange on June 1, 2009. Short-dated new crop corn and soybean options started trading on June 4, and the company plans to launch trading for short-dated new crop wheat options on September 4, 2012.
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June 5th, 2012
Gold Futures – Gold is stuck in the longest slump in a decade as investors shun bullion for the dollar and bonds, just seven months after Bank of America Corp. said Europe’s debt crisis would send prices to a record $2,000 an ounce.
The bank was joined by Goldman Sachs Group Inc., Morgan Stanley and Barclays Plc in urging investors to buy in December and January. Now, after gold fell 10 percent in a four-month slide through May, they say prices will rebound this year or next as the Federal Reserve shores up the world’s biggest economy by easing monetary policy and devaluing the dollar.
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June 4th, 2012
Ethanol futures rebounded from the lowest level in 20 months on speculation that cheaper prices will spur demand.
Ethanol futures prices rose the most since May 16 after its two worst weeks this year, giving blenders an incentive to use more of the fuel. Ethanol in the U.S. is made from corn and mixed with gasoline to augment supply and meet federal mandates.
“Anytime you get a 1 in front of ethanol prices, it gets people to salivating and they want to get some,” said Jerrod Kitt, an analyst at Linn Group in Chicago. “Prices got pretty darn cheap. We finally got a print under $2, which started a relief rally.”
Denatured ethanol for June delivery climbed 3.5 cents, or 1.8 percent, to settle at $2.01 a gallon on the Chicago Board of Trade. Prices rebounded from $1.975 on June 1, the lowest price since Oct. 6, 2010. Futures have fallen 8.8 percent this year.
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June 5th, 2012
Gold futures rose in New York for the second time in three sessions on speculation that the world’s policy makers will take measures to stimulate economic growth, reviving demand for the metal as an inflation hedge.
The finance ministers and central bank governors from the Group of Seven nations plan to hold telephone discussions today before a summit of leaders from the Group of 20 in Los Cabos, Mexico. The Federal Reserve purchased $2.3 trillion of debt in two rounds of so-called quantitative easing from December 2008 to June 2011 to boost the economy, helping gold surge to a record $1.923.70 an ounce in September.
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June 5th, 2012
Soybean futures’ price decline last month offers a buying opportunity for consumers because demand for U.S. beans is expected to be “strong” in the September-to- February period, Oil World said.
U.S. soybean exports in the first half of the 2012-13 crop year are forecast to jump to 33.5 million metric tons from 24.2 million tons in the year-earlier period, the Hamburg-based oilseed researcher wrote in an e-mailed report.
Demand for U.S. beans is forecast to climb after drought cut the harvest in Brazil and Argentina, the biggest shippers after the U.S. in 2011-12, according to Oil World. Soybean futures fell 11 percent in Chicago in May, the biggest monthly drop since September amid expectations for a bigger U.S. crop.
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June 5th, 2012
Euro futures – The euro declined from a one-week high against the dollar as Spanish Budget Minister Cristobal Montoro called for European Union funds to be used to shore up the nation’s banks.
The 17-nation currency weakened for the first time in three days against the yen after European retail sales fell more in April than economists forecast and German factory orders declined. The yen strengthened against most of its major counterparts as investors sought safer assets. The pound fell versus the dollar after Egan-Jones Ratings Co. cut the U.K.’s credit ranking.
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June 4th, 2012
Gasoline futures rose, reversing an earlier loss, as the dollar fell against the euro after European leaders agreed to discuss more cooperation among banks using the European benchmark currency.
Gasoline futures advanced as a weaker dollar boosted the investment appeal of commodities. The euro was up 0.6 percent against the U.S. benchmark after German Chancellor Angela Merkel said systemic banks may need supervision at the European level as the European Union weighs possible steps toward “political union.”
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June 5th, 2012
Commodity Futures – The third consecutive year of record rice production is poised to expand inventories to the most in more than a decade, driving down prices and helping to contain the more than $1 trillion spent on food imports annually.
Farmers will harvest 466.4 million metric tons in the 2012-2013 season, boosting stockpiles by 0.7 percent to 104.9 million tons, the largest since 2001-2002, says the U.S. Department of Agriculture. Prices of 5 percent white rice in Thailand may drop as much as 14 percent to $520 a ton by the end of July, said Mamadou Ciss, who is the president of Alliance Commodities SA in Geneva and has traded the grain for more than a quarter century.
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June 1st, 2012
Managed Futures – Money managers cut their net-long positions in Chicago Board of Trade corn futures, government data showed Friday, as investors abandon long positions on slowing demand and improved crop weather.
Broader risk aversion across many asset classes enticed fund managers to trim their long positions in the market as well.
Money managers were net-long 61,493 corn contracts, down 44% from the prior week, according to data from the Commodity Futures Trading Commission.
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