ICE Futures U.S. plans to offer corn, wheat, soy contracts

ICE Futures U.S. plans to offer corn, wheat, soy contracts

April 12 (Bloomberg) -- IntercontinentalExchange Inc. plans to offer futures and options in U.S. grains and oilseeds, which will be settled on a cash basis linked to prices from the rival Chicago Board of Trade, owned by CME Group Inc.  Subject to regulatory review, futures in corn, wheat, soybeans, soybean oil and soybean meal will debut May 14 on ICE Futures U.S., Atlanta-based IntercontinentalExchange said today in a statement. The options will start on May 15.

MF Global Inc. trustee prepared to file claims against officers

MF Global Inc. trustee prepared to file claims against officers/Holdings

The MF Global Inc. (MFGI) trustee put out an update on the status of his investigation following a hearing in front of Bankruptcy Judge Martin Glenn on Thursday indicating a more active pursuit of civil charges against certain officers of MF Global and MF Global Holdings itself.  Giddens stated, “Based on his investigation of conduct, allocation of responsibilities and reporting with respect to the segregated customer accounts, the Trustee believes that there are claims he may assert against certain responsible individuals at MFGI and Holdings (and Holdings itself) for, among other things, breach of fiduciary duties owed to both MFGI and its customers, and violations of the segregation requirements of the Commodity Exchange Act.”

Aussie dollar rockets through critical daily resistance

Aussie dollar rockets through critical daily resistance

The Australian dollar is the top performer against a weaker greenback with a massive advance of more than 1.38% on the session. Stronger than expected employment data out of Australia last night prompted a sharp rally in the aussie after the report showed the economy had created 44K jobs in the month of March, up from a previous decline of 15.4K. Expectations were for a print of just 6.5% with the unemployment rate also topping expectations with a hold at 5.2% vs. consensus calls for a read of 5.3%. The daily chart attests to the sheer magnitude of the day’s advance with the pair clearing critical resistance at the confluence of channel resistance and the 50% Fibonacci retracement taken from the December 15th advance at 1.0360. Subsequent topside targets have also been compromised at the 200 and 100-day moving averages at 1.0380 and 1.0410 respectively. Note that the breach above RSI resistance confirmed the break with the aussie likely to see further topside moves before heading lower.

MF Global Holdings creditors question $1.6 billion estimate

MF Global Holdings creditors question $1.6 billion estimate

April 12 (Bloomberg) -- Creditors of MF Global Holdings Ltd. are questioning a $1.6 billion estimate of how much more is required to repay customers of the failed brokerage, their lawyer said in Manhattan bankruptcy court today.

Rosenthal Collins fined $2.5 million for supervision and record-production violations

Rosenthal Collins fined $2.5 million for supervision and record-production violations

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing and simultaneous settlement of charges against Rosenthal Collins Group, LLC (RCG), a Chicago, Ill.-based registered futures commission merchant, for failing to diligently supervise the handling by its officers, employees, and agents of an account held at RCG in the name of Money Market Alternative, LP (MMA).  Enrique F. Villalba, of Cuyahoga Falls, Ohio, used the MMA account in a multi-million dollar commodity futures Ponzi scheme.  On March 29, 2010, the CFTC sued Villalba and MMA over their fraudulent scheme (see CFTC Press Release 5801-10.)

Treasury Bonds Pare Losses On Strong 30-Year Sale

Treasury Bonds Pare Losses On Strong 30-Year Sale - WSJ.com

NEW YORK (Dow Jones)--Robust demand on a $13 billion 30-year Treasury bond auction Thursday gave the bond market a new lease on life, with bond prices paring a decline.  The sale, the last leg of this week's $66 billion new supply, posted the biggest overall demand since December, signaling that the selling in the bond market lured in buyers deeming higher yields as attractive.

ICE Expands US Commodities Unit In Challenge To CME

ICE Expands US Commodities Unit In Challenge To CME | Fox Business

CHICAGO -(Dow Jones)- IntercontinentalExchange Inc. (ICE) on Thursday announced a big push into U.S. agricultural futures, in a challenge to the dominance of CME Group Inc. (CME).