Japanese Stocks Drop as Insurers, Shipping Companies Fall

Japanese Stocks Drop as Insurers, Shipping Companies Fall - Bloomberg

Japanese stocks fell, with the Nikkei 225 Stock Average capping a second weekly loss, as brokerages and insurers dropped after U.S. economic reports missed estimates.  Toyota Motor Corp. (7203), a carmaker that depends on North America for 25 percent of its sales, dropped 1.8 percent. Mito Securities Co. led brokerages lower. Tokio Marine Holdings Inc. fell 3.4 percent, pacing declines among insurers. Yamato Holdings (9064) Co. declined 2.4 percent on a report operating profit slid at the parcel delivery service.  The Nikkei 225 fell 1.4 percent to 8,669.87 at the 3 p.m. trading close in Tokyo, dropping 0.6 percent this week. The broader Topix Index slid 1.8 percent to 733.82, with about seven stocks dropping for each that rose. The gauge has fallen 10 out of 11 days.

Bonds rally on growing fears over Spanish debt

TREASURIES-Bonds rally on growing fears over Spanish debt | Reuters

U.S. Treasury debt prices jumped on Friday as fears over a full-fledged bailout for Spain drove a safety bid for government bonds, nudging their yields near historic lows. Spain's heavily indebted eastern region of Valencia on Friday said it would apply to Madrid for aid, complicating central government efforts to avoid a massive rescue deal. The country also cut its economic outlook on Friday, indicating the government expects the economy to remain in recession through 2013 and rating agency Egan-Jones cut Spain's credit rating further into junk status, citing the weakening economy including crumbling finances among the country's regions.

Asian Currencies Advance in Week as Slowdown Fuels Stimulus Bets

Asian Currencies Advance in Week as Slowdown Fuels Stimulus Bets - Businessweek

Asian currencies had a second weekly advance on speculation the U.S. and China will adjust policies to revive the world’s two biggest economies, boosting demand for riskier assets.  Malaysia’s ringgit gained the most since January and South Korea’s won reached a two-week high after Federal Reserve Chairman Ben S. Bernanke said on July 17 that policy makers are studying options for further stimulus measures.  Premier Wen Jiabao said the government needs to assess the situation in China’s economy, which grew at the slowest pace since 2009 last quarter, Xinhua News Agency reported on July 15.

Soybean, corn futures rise on livestock worries

Soybean, corn futures rise on livestock worries - MarketWatch.com

Soybean futures gained Friday on farmer and investor concern about food for cattle and other livestock as a drought in the U.S. heartland devastates corn crops and pastures.  With the prime sources of cattle feed in increasing short supply, soybeans and soybean meal have emerged as an alternate feed source, raising their market prices.  Soybean and corn futures ended at record highs Friday.

July 17, 2012 Current Commitments of Traders Charts

Current Commitments of Traders Charts

Based on CFTC weekly report.
(Weekly as of October 2000.)
19 Jul 11 - 17 Jul 12

Rains too late for some drought-savaged corn fields

Rains too late for some drought-savaged corn fields - Chicago Tribune

Indiana farmer Brian Scott saw on Thursday the heaviest rains of the year soak his 2,300-acre farm in the throes of the worst drought in five decades, but they were a mixed blessing at best.  The downpour came too late for his corn crop, which was already past the critical stage of setting yields. His soybeans, though, could get better and set more pods.

Oil Drops From Nine-Week High on Weaker-Demand Outlook

Oil Drops From Nine-Week High on Weaker-Demand Outlook - Bloomberg

Oil fell from a nine-week high in New York, paring a second weekly advance, on speculation gains may have been excessive amid worse-than-expected economic data and signs seasonal crude demand is weakening.  Futures slipped as much as 0.8 percent, snapping a seven- day run of gains that was the longest since February. Oil may fall next week on signs of slowing economic growth, according to a Bloomberg News survey.

Gold edges up on Russian cenbank buying, euro off lows

PRECIOUS-Gold edges up on Russian cenbank buying, euro off lows | Reuters

Gold edged up on Friday on improved market sentiment after Russia revealed it had boosted its bullion reserves in June, but losses in equities and other commodities amid uncertainty over the euro zone debt crisis limited further gains. The metal fell in early trade as the euro tumbled after Spain's Valencia region said it would seek central government help to repay its debts, heightening fears over...

Crop Traders Extend Bullish Streak on U.S. Drought

Crop Traders Extend Bullish Streak on U.S. Drought: Commodities - Bloomberg

Corn and soybean traders are bullish for a 13th consecutive week on mounting concern that yields will keep dropping amid the worst U.S. drought in a half century.  Twenty analysts surveyed by Bloomberg expect soybeans to climb next week, after reaching a record yesterday. A further five were bearish and three neutral. Nineteen predicted gains in corn, five saw a decline and three anticipated little change. Hedge funds are holding the biggest bet on rising soybeans since the beginning of May and the largest wager on corn since April, U.S. Commodity Futures Trading Commission data show.

U.S. Stock Futures Fall As Worries About Spain Flare Up

U.S. Stock Futures Fall As Worries About Spain Flare Up - WSJ.com

U.S. stock futures fell as mixed quarterly results from blue chip companies and growing worries about Spain's debt problems alarmed investors.  About 90 minutes ahead of the open, Dow Jones Industrial Average futures shed 67 points, or 0.5%, to 12813.  Standard & Poor's 500-stock index futures declined 8 points, or 0.6%, to 1364 and Nasdaq 100 futures lost 6 points, or...

US corn and soy hit record highs as heat bakes crops

GRAINS-US corn and soy hit record highs as heat bakes crops | Reuters

U.S. soybeans surged two percent on Friday to hit record levels for the third day in a row as scorching temperatures amid a relentless drought baked crops in America's heartland, spreading into top producers Iowa and Illinois. Corn prices equaled their record set on Thursday. They have soared more than 50 percent in just a few weeks as crops wilted under searing heat in the Midwest, prompting the United Nations agriculture agency to talk of a "serious situation" though not yet a food crisis. Wheat turned firmer but lagged the gains in corn and soybeans, with the winter wheat crop already harvested and escaping the wrath of the worst drought in more than half a century. Weather forecasts saw little hope of relief over the next two weeks.

Corn, soy hit record highs; oil jumps on Mideast worry

COMMODITIES-Corn, soy hit record highs; oil jumps on Mideast worry | Reuters
Corn and soybeans hit all-time highs on Thursday as the worsening drought in the U.S. farm belt stirred fears of a food crisis, while crude oil prices rose to eight-week peaks on worsening tensions in the Middle East. A rally on Wall Street also supported oil and other industrial commodities, including copper. U.S. stocks hit 2-1/2 year highs on robust second-quarter earnings reports. Markets got a further boost from bets for a new U.S. stimulus after a slew of soft data pointed to a slowing recovery in the world's largest economy.

Crude Oil Falls More Than 1% On Weak Economic News - WSJ.com

OIL FUTURES: Crude Oil Falls More Than 1% On Weak Economic News - WSJ.com

Crude oil futures turned downward Friday, as lackluster economic news capped seven-straight sessions of gains in Brent crude.  At 1038 GMT, the front-month September Brent contract on London's ICE futures exchange was down $1.14, or 1%, at $106.65 ...