Dec. 30 (Bloomberg) -- Corn traders are bullish for a fifth consecutive week on speculation that dry weather in South America is damaging crops, boosting demand for U.S. supplies at a time when stockpiles are predicted to shrink to a 16-year low.
Friday, December 30, 2011
Presidential Futures Bets
Two electronic markets that allow wagering on real-world events have the former Massachusetts governor well ahead, days before the first votes are tallied in a months-long series of state elections to pick the Republican nominee.
Dry Weather Threatens Global Grain Supply - Businessweek
Dec. 30 (Bloomberg) -- Wheat futures rose for the ninth time in 10 sessions on speculation that dry weather from Ukraine to Argentina will limit global grain supplies.
Barclays Accused of Criminal fraud
A criminal complaint has been filed against Barclays in Geneva, Switzerland this week for its role in a $1.4 billion structured investment vehicle (SIV) called Golden Key.
Calendar for EU Sovereign Issuances
Before in the week, we discussed at duration the funding gaps that various European sovereign nations experience as the gap in between supply and coupon/redemptions can’t be assumed to be rolled away (and Europe faces EUR43.5bn of net income-circulation surplus from sovereigns into the ‘market’).
Great Set-Up for Gold?
I am positive you have heard all of the pronouncements that the bull industry in gold is over. All kinds of good reasons have been provided from power in the Greenback to the “you much better operate for the hills” value is now below the 200 day relocating common for the 1st time in ten months. It has been ugly, but . . .
Goldfinger! The man with the Midas touch.
When $2 billion in IPO proceeds landed in his family's bank account in mid-December, Cheng Yu-Tung emerged as one of the richest men in Asia, with a $16 billion fortune built on the twin commodities that drive China—gold and land.
Natural gas down 32% in 2011
Oil ends up 8% on year, with natural gas down 32% - MarketWatch
SAN FRANCISCO (MarketWatch) -- Crude-oil futures closed lower Friday with traders wary of the uncertain outlook for global oil demand, but prices finished out the year with a more than 8% gain. Oil for February delivery CL2G -0.59% shed 82 cents, or 0.8%, to settle at $98.83 a barrel on the New York Mercantile Exchange, with futures prices adding 8.2% to their value this year. February natural gas NG12G -1.95% fell 1.3%, or 3.8 cents, to finish at $2.99 per million British thermal units, sending futures prices down by 32% for the year as traders fretted about ample U.S. inventories.
Gold Up For 11th Year; Return To Record Highs?
(Reuters) - Gold rose 1 percent on Friday, rebounding from losses earlier this week that sent the market briefly into bear territory, and the metal sealed its 11th consecutive year of gains.
11 Disturbing Charts
As we pop the corks of our proverbial champagne this weekend with an eye to a better year ahead, perhaps it is worth thinking about these 11 incredible trends that have evolved in a rather disturbing manner over the last 11 years. As John Lohman points out, the 21st century has not been pretty for ongoing centrally planned attempts to defer the 30 year overdue mean reversion.
No wonder trading can be confusing!
Dec. 30 (Bloomberg) -- Commodities headed for the first annual drop since 2008, paced by declines in cotton, copper and cocoa, on concern that the sovereign-debt crisis in Europe and a cooling Chinese economy will sap demand for raw materials.
Higher Commodities At Year End
Commodities prices are ending the year higher, even after a crash that wiped out big gains from a summer rally.
Interest Rates: BraceYourself For More Stimulus
CHICAGO (Dow Jones)--Investors were willing to raise their bids for U.S. interest-rate futures contracts during the final trading day of 2011, believing short- and long-term U.S. interest rates will stay very low next year. Friday's action also indicated that traders think the U.S. Federal Reserve will probably wait longer than two years to start raising its short-term federal-funds rate, which has been near zero since December 2008.
Bearish Year for Natural Gas
NEW YORK (Dow Jones)--Natural gas futures dropped below the key $3 psychological threshold for the first time in more than two years Friday, as the market looks set to close out one of its most bearish years yet.
Dollar Still King
NEW YORK (Dow Jones)--Central banks across the world increased their share of dollar-denominated holdings in the third quarter, data from the International Monetary Fund showed, as they simultaneously lightened their share of euros. Despite continuing concerns about the U.S.'s massive fiscal imbalance that led to the world's largest economy being stripped of its triple-A credit rating, the data underscored how the dollar remained the reserve currency of choice among global central banks.
Cotton holds steady
Grain Futures SnapshotMore
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Cotton prices continued higher on Thursday and are trading near unchanged this morning. Export sales of cotton were good at 89,700 rb sold. Shipments were 214,500 rb. There were 10,604 bales decertified last night leaving 39,394 bales in the certified stocks. The US Dollar Index is down 38 points at 80.54. Crude oil is down 10 cents at $99.05. March soybeans were up 3 ¾ cents overnight at $11.91 ¼. Sales of soybeans were strong at 662,700 tons. March corn was up 6 ½ cents at $6.44 ½ overnight. Sales of corn were weaker than expected at 318,800 tons. March wheat was up 5 ½ cents overnight. Sales of wheat were better than expected at 431,000 tons. China’s cotton prices were mixed. The markets will be closed on Monday for the New Year holiday.
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