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Tag Archives: markets

CLOSING THE PITS

The closure of the grain/livestock pits next month is fast approaching. Crain’s Chicago Business has put together a multi-media article from numerous floor traders on the history of futures trading in Chicago.

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TRADING CHANGES

CME Group announced Tuesday that the exchange will offer an extended grain and oilseed Globex futures daily close from 1:15 pm CT to 1:20 pm CT and expects to be implemented on July 6th,  2015. The CME Group last February announced the July 2015 closing of most futures pits in Chicago and New York.

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SHELL TO BUY BRITISH NATURAL GAS PRODUCER

Royal Dutch Shell PLC has agreed to buy British gas producer BG Group PLC for $69.7 billion in cash and stock, the companies announced Wednesday. The move gives the oil giant Shell a greater stake in natural gas markets in the wake of tumbling oil prices.

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OIL STORAGE CRUNCH COULD LOWER CRUDE PRICES EVEN FURTHER

The U.S. is running out of places to stash its overflowing oil supplies, threatening to further drive down crude prices that rebounded in recent days. Supply – including oil produced in the U.S. and imported – has been outpacing U.S. refiners’ demand by about 1 million barrels a day on average since early January, according… read more

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SIGNS OF THE TIMES

Apple will replace AT&T as one of the members of the Dow 30 Industrials index. AT&T has been a member of the Dow since the early 20th Century.

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PROPANE PRICES

GROWMARK Energy says propane inventories are flush compared to last year and the five-year average and demand hasn’t been strong enough to counter supplies and production.

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PIT TRADING ENDS

CME Group announced last evening that traditional pit trading of grains and livestock in Chicago will go all-electronic on July 2. Only 1% of the trading in Chicago was going through the pits, the remainder already on e-trade.

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USDA Reports

Corn futures rose to a nearly seven-month high after USDA projected lower-than-expected plantings.  Check it out at www.farmweeknow.com.

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Report Preview

Analysts surveyed by Dow Jones expect the USDA to forecast that farmers will plant 92.902 million acres of corn, down from 95.365 million last year. Soybean acreage is expected to rise to 81.369 million versus 76.533 million in 2013.  We’ll have updated figures Monday morning on FarmWeekNow.com.

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Divergent Markets

US hog producers are seeing record high prices for pork, due to effects from PEDV.  However, China is purchasing frozen pork for reserves this week to support its domestic pork prices. First purchase amount is set at 65,000 tons.

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