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Economists Look to Port Activity for Clues

Posted:
By: Thomas Grisafi
Comments: 1

The latest August figures of our West and East Coast ports show signs of increased container and bulk activity but do not indicate a pick up in US exports. On the contrary, the report shows an increase of empty containers leaving our ports destined for South America and Asia.

Overall the August r

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Suspicious Eyes on AIG Asian IPO

Posted:
By: Thomas Grisafi
Comments: 1

AIG is about to launch one of the largest insurance company IPOs in Hong Kong at the end of October, when the company plans to sell 50% of AIA Group. The sale is expected to raise $15 billion but will only contribute a drop to what the company stills owes the US Government because of the TARP bailou

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CFTC Poised for Vote

Posted:
By: Thomas Grisafi
Comments: 0

At a meeting scheduled for Friday, October 1st, the Commodity Futures Trading Commission (CFTC) will vote on proposals to implement the over-the-counter derivatives provisions in the Dodd-Frank financial-regulation law enacted in July.

According to news sources, the agency is expected to establis

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Consumer Confidence Proves Grim

Posted:
By: Thomas Grisafi
Comments: 1

Fears about the state of the economy and the job market took a heavy toll on consumer confidence during September, according to the latest data from the Conference Board.

The Conference Board's Consumer Confidence Index fell from 53.2 in August to 48.5 in September, well below the estimate offere

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Cotton Explodes to Fifteen Year High

Posted:
By: Thomas Grisafi
Comments: 1

Cotton prices are above $1 per pound, the first time since 1995. Prices have risen more than 40% since July due to strong demand, tight supplies, and strong buying from speculators. Prices may continue to stay above a $1 per pound though 2011 as global demand exceeds supplies, creating an imbalance

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Apple Gets First Real iPad Competitor

Posted:
By: Thomas Grisafi
Comments: 1

RIM, makers of the BlackBerry smartphone, have unveiled this week their long awaited answer to the iPad. Research in Motion was initially expected to call the 7-inch multi-touch tablet a "BlackPad." But on Monday, Mike Lazardis, president and co-CEO of RIM, unveiled the BlackBerry "PlayBook," which

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JP Morgan Aims for Big Commodity Play

Posted:
By: Thomas Grisafi
Comments: 1

As we at Indiana Grain have reported in the past, there's no shortage of big players taking an entirely fresh look at commodities.

JPMorgan Chase is a prime example. And, as reported this weekend by the Financial Times of London, JP Morgan is said to be in talks to acquire another part of RBS Sem

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Commodity Merger Possible with Louis Dreyfus

Posted:
By: Thomas Grisafi
Comments: 1

A big merger is brewing in the global commodity trading business. Family-owned Louis Dreyfus, the most prominent French trading house, is in talks with Singapore's Olam International aimed at creating the world's third- largest trader in farm commodities after North America's Cargill and Archer Dani

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Home Sales Brighten Economic Outlook

Posted:
By: Thomas Grisafi
Comments: 1

Following the huge drop in July, existing home sales managed to rebound by a modest 7.6% to a seasonally adjusted annual rate of 4.13 million units, slightly above the forecast offered by Bloomberg of 4.05 million units but 19.0% below the 5.10 million-unit pace in August 2009.

The supply of hom

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Prominent Traders to Start Own Hedge Fund

Posted:
By: Thomas Grisafi
Comments: 1

A top Credit Suisse commodity trader is leaving the bank, along with a team of proprietary traders, to set up a hedge fund backed by $150 million from private investment firm Blackstone Group , two people familiar with the matter said.

The move by George 'Beau' Taylor, a rainmaker renowned for m

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Indiana Grain Likes Wall Street 2

Posted:
By: Thomas Grisafi
Comments: 1

We at Indiana Grain aren't in the business of making stock recommendations.

But if "Wall Street 2" were a stock... we'd get long.

The "Wall Street" sequel is on course to capture the top spot at the box office this weekend, keying on older adult fans of Oliver Stone's 1987 original.

The PG

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Nasdaq Makes Deal with GFI Group

Posted:
By: Thomas Grisafi
Comments: 1

Nasdaq OMX Group Inc. (NDAQ) and GFI Group Inc. (GFIG) have reached an agreement to offer electronic trading and clearing of continental U.S. power and natural gas, expanding Nasdaq's commodities presence.

Terms of the agreement between the exchange operator and inter-dealer broker weren't disclo

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Wheat Gains as Dollar Falls

Posted:
By: Thomas Grisafi
Comments: 1

Chicago wheat and soybean futures rebounded on Wednesday on speculations that a slumping U.S. dollar will give a potential edge to U.S. grain export. Corn remained nearly unchanged.

December corn trimmed 0.25 cents, or 0.04 percent, to 5.05 dollars per bushel. December wheat added 1.75 cents, or

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CFTC Busts Another Alleged Ponzi Scheme

Posted:
By: Thomas Grisafi
Comments: 0

The U.S. Commodity Futures Trading Commission on Tuesday charged Statesboro, Ga., businessman Joseph L. Autry Jr. with running a fraudulent Ponzi scheme to trade commodity futures contracts that bilked seven people out of $265,200.

Autry, who has never been registered with the Commodity Futures

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Fed Does Nothing Now, May Soon

Posted:
By: Thomas Grisafi
Comments: 0

The Federal Reserve concluded its meeting Tuesday without any changes to the current policy but said it will continue to closely monitor economic activity and will provide additional support to the economy if needed.

In an indication that it is growing increasingly worried that the disinflationar

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Traders Gear Up for Fed Meeting Today

Posted:
By: Thomas Grisafi
Comments: 0

The Fed meets on today to discuss the next steps it may take against the backdrop of an economy that continues to crawl out of the worst economic slump in 70 years.

With the target on its key lending rate at zero to 25 basis points, there is little room to maneuver, at least using conventional to

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Economic Panel Says Recession is Over

Posted:
By: Thomas Grisafi
Comments: 1

The National Bureau of Economic Research (NBER) has confirmed what most economists have been saying for almost a year. The recession that began in December 2007 came to an end in June 2009.

Though the economy has been on the road to recovery for about 15 months, it has been a bumpy ride that i

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Another Crazy Day in Corn

Posted:
By: Thomas Grisafi
Comments: 1

We at Indiana Grain live for days like today.

Corn prices touched their highest level in two years. Then, the price of our beloved commodity fell to close lower on the day as traders seemed to pacify their worries about a late U.S. harvest and an impending frost in China.

Corn for December del

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The Yen May Be Poised for a Comeback

Posted:
By: Thomas Grisafi
Comments: 1

The Bank of Japan's decision to intervene directly in the currency markets in an attempt to weaken the yen may only have a short-lived and small impact.

That's according to some traders and currency analysts.

The markets were surprised on Wednesday and had not anticipated the intervention so s

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Is Everyone Long Corn?

Posted:
By: Thomas Grisafi
Comments: 1

The thing to do these days is buy corn.

And a lot of it.

As evidenced by the steady, unrelenting rise in corn, buying the grain is the "thing to do" it seems, particularly in managed funds.

According to the latest report from Reuters (yes, exploding corn is national news once again), manage

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CPI Restores Deflation Debate

Posted:
By: Thomas Grisafi
Comments: 4

The Consumer Price Index (CPI) for August rose 0.3%, as a 2.3% jump in energy prices paved the way for a rise in the headline number. Core inflation, which strips away the more volatile energy and food categories, was unchanged.

For the year, the CPI is up just 1.2% and the more closely followed

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Soros Says Gold Is Not Safe Anymore

Posted:
By: Thomas Grisafi
Comments: 1

Hedge fund manager George Soros said, despite his play in gold, that the precious metal wasn’t a safe bet anymore.

Speaking at a conference sponsored by Reuters, Soros warned while the commodity could go higher, it’s the “ultimate bubble.”

Soros has been calling a gold bubble since the

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Considering The Corn and Pork Connection

Posted:
By: Thomas Grisafi
Comments: 1

Although pork producers are enjoying profits again after suffering major losses during the recession, they should beware of corn prices before expanding their operations, according to Purdue University agricultural economist Chris Hurt.

From the 1999 crop to the 2005 crop when corn prices were ho

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A New Name for High Fructose Corn Syrup?

Posted:
By: Thomas Grisafi
Comments: 1

Found in everything from soda to ketchup to pickles, the CRA wants to change the name of the popular sweetener to "corn sugar." They say that high fructose corn syrup is simply sugar and is no more harmful than any other popular full-calorie sweetener, like sugars derived from beets or sugar cane.

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Monsanto Seeing Yield Advantages

Posted:
By: Thomas Grisafi
Comments: 1

Early 2010 corn harvest results in the South for farmers using Monsanto Company's products that maximize yield potential: particularly Genuity VT Triple PRO are encouraging, Brett Begemann, the company's executive vice president of seeds and traits, will tell investors today at the Credit Suisse 23r

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Delinquent NYMEX Disclosure Nets Massive Fine

Posted:
By: Thomas Grisafi
Comments: 1

Vitol, the largest oil trader, has been fined $6m by the US federal commodities regulators for “willfully” failing to disclose in 2007 information on the relationship of two subsidiaries to the New York Mercantile Exchange.

The fine comes amid heightened regulatory scrutiny of the oil market

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Rising Retail Sales Lend Some Hope

Posted:
By: Thomas Grisafi
Comments: 1

Despite the many uncertainties facing consumers these days, consumer confidence appears to be slowly perking back up, according to the latest government survey of the nation's retailers. The U.S. Department of Commerce reported this week that retail sales in August grew 0.4%, versus the forecast of

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Corn Harvest Continues to Impress

Posted:
By: Thomas Grisafi
Comments: 1

The headline from our friends at Hoosier Ag Daily says it all: "Hoosier Corn Harvest at Record Pace"

Many areas of Indiana experienced minimal rainfall late in the week which only temporarily slowed harvest progress, according to the Indiana Field Office of USDA’s National Agricultural Statisti

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CME CFO Has Big Presentation Today

Posted:
By: Thomas Grisafi
Comments: 1

CME Group announced today that Jamie Parisi, Chief Financial Officer, will present at Barclays Capital 2010 Global Financial Services Conference to be held in New York on Tuesday, September 14, at 2:00 p.m. (Eastern Time).

The presentation will be broadcast live over the Internet and can be acces

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Commodity Traders Mindful of Brewing Hurricane

Posted:
By: Thomas Grisafi
Comments: 1

The National Hurricane Center is now closely tracking a number of storm systems in the Atlantic Ocean which could threaten the United States in the coming weeks. At the top of the list is Hurricane Igor, which has now developed into a Category 2 Hurricane with sustained wind speeds of 105 MPH.

C

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All Eyes on Deutsche Bank to Start the Week

Posted:
By: Thomas Grisafi
Comments: 0

Deutsche bank confirmed this Sunday night that it would make an offer to acquire Deutsche Postbank, the largest German bank by depositors and individual customers.

The bank already owns 30% of Deutsche Postbank and will offer 24 to 25 euros per outstanding share for the remaining 70%.

The tota

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Commodities Index Continues Surge

Posted:
By: Thomas Grisafi
Comments: 1

The shutdown of a Canada-to-U.S. oil pipeline boosted U.S. crude prices by 3 percent on Friday, sending a broad commodities index soaring amid gains in markets such as corn and sugar.

Toronto-based pipeline operator Enbridge Inc closed its 670,000 barrel-per-day (bpd) Line 6A, the largest of the

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Housing Inventory Remains High

Posted:
By: Thomas Grisafi
Comments: 1

The US housing market has been in a slump since late 2007 and given the current housing inventory figures it does not seem that the American Dream will come true any time soon.

Independent of first time home buyer tax credits, low mortgage rates and loan modification programs, the slump in the US

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Traders Await USDA Crop Report

Posted:
By: Thomas Grisafi
Comments: 2

This morning (Friday) the USDA will release the September supply and demand report and the general consensus is that it will friendly to both the corn and soybean markets.

The average trade guesses suggest we will have lower corn and soybean production and lower old crop and new crop ending sto

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CME Group Launching E-micro Gold Contracts

Posted:
By: Thomas Grisafi
Comments: 1

It's a golden opportunity of sorts for our friends at the CME Group.

CME Group has announced the launch of E-micro gold futures exclusively on CME Globex to begin trading on October 3 for trade date October 4. These contracts will be listed by and subject to the rules and regulations of COMEX.

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Oil Stockpiles Continue to Rise

Posted:
By: Thomas Grisafi
Comments: 1

U.S. crude oil inventories rose by 3.4 million barrels in the week ending Aug. 27, the U.S. Energy Information Administration said Wednesday.

The agency said crude inventories increased to 361.7 million barrels during the week with supplies remaining above the upper limit of the average range for

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Shipping Companies Express Optimism

Posted:
By: Thomas Grisafi
Comments: 1

Several international shipping companies do not predict a double-dip for the US economy but do expect slow and steady growth for the foreseeable future. The world’s largest shipping companies convened yesterday at the Jefferies 7th Global Shipping and Logistics Conference in New York City.

The

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Commodity Exports Down Under Near Record

Posted:
By: Thomas Grisafi
Comments: 1

Australia's export earnings from energy and mineral commodities in the June quarter was the second highest on record.

Earnings increased by 41 per cent to $44 billion compared with the previous quarter, according to the Australian Bureau of Agricultural and Resource Economics Bureau of Rural Scie

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Currencies at Odds Again

Posted:
By: Thomas Grisafi
Comments: 1

The euro and yen are moving in opposite directions based on market news with the USD in the middle of the battle field. The euro moved

slightly lower in midday trading to 1.2728 while the yen strengthened to 83.66.

The renewed weakening of the euro is partially due to disappointing German fac

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CME Giving More Edge to Electronic Traders?

Posted:
By: Thomas Grisafi
Comments: 1

Last week, rumblings were heard about the CME Group possibly considering changing the way its Chicago Board of Trade grain futures prices are settled.

According to the traders who spoke with Reuters, the changes would give more influence to electronic trade.

"CME Group scheduled a series of me

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Commodities Capture UN Attention

Posted:
By: Thomas Grisafi
Comments: 1

The recent rise of wheat and barley on the futures markets have caused sufficient concern for the UN to call a special meeting to be held on September 24 in Rome.

The United Nations Food and Agriculture Organization will discuss the sharp rise in commodities prices during the month of August and

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Cotton Continues to Gallop

Posted:
By: Thomas Grisafi
Comments: 1

While most commodity traders have been enamored of corn, wheat, and beans this summer (and for good reason) major moves have also taken place in cotton.

Case in point: cotton's spike during Thursday's session.

Cotton futures rose, closing at the highest price since 1995, on concern that suppli

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Weekly Jobless Claims Fall Again

Posted:
By: Thomas Grisafi
Comments: 1

Weekly initial jobless fell from an upwardly revised 478,000 in the prior week to 472,000, just shy of the consensus forecast offered by Bloomberg News of 470,000. The 4-week moving average, which smooths away some of the volatility in the weekly number, registered a 2,500 decline to 485,500.

The

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A Skyrocketing September for Stocks?

Posted:
By: Thomas Grisafi
Comments: 1

If the first day of September was any indication, it could be up, up, and away for equities this month.

But no one is banking on a consistent spike to last the month.

Stocks rose Wednesday as better-than-estimated growth in American and Chinese manufacturing bolstered confidence in the global

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New Commodities Chief in Asia for JPM

Posted:
By: Thomas Grisafi
Comments: 1

The latest reports confirm that JPMorgan Chase & Co. has announced that Ray Eyles would be heading the Company’s commodities business in the Asia Pacific region.

Eyles, who was earlier the Head of Global Commodities Strategic Trading in London, has now been officially appointed by the group.

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Electronic Trading Reaches Another Milestone

Posted:
By: Thomas Grisafi
Comments: 1

CBOE Holdings, Inc. today announced that C2 Options Exchange, Incorporated (C2), the company's new all-electronic exchange, will launch in late October 2010. Details on C2 trading access, connectivity and an overview of the market model were also announced.

C2 will operate under a separate exchan

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Obama Declares End to War in Iraq

Posted:
By: Thomas Grisafi
Comments: 1

Although few Americans now regard the war on Iraq as a concern greater than that of the economic calamity at home, President Obama declared that "the American combat mission in Iraq has ended" in his prime-time address Tuesday.

"Operation Iraqi Freedom is over, and the Iraqi people now have lead

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JP Morgan to Close Prop Shop

Posted:
By: Thomas Grisafi
Comments: 1

According to insider sources at Business Week, JPMorgan Chase & Co. told traders who bet on commodities for the firm’s account that their unit will be closed as the company, the second-biggest U.S. bank by assets, starts to shut down all proprietary trading, according to a person briefed on the ma

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Argentina May Produce Record Corn Crop

Posted:
By: Thomas Grisafi
Comments: 1

Argentina is a nation rich in the golden grain.

According to the latest reports from that part of the world, Argentina, the world’s second- largest corn exporter, may produce a record crop next year after increasing the amount of land sown with the grain," says Bloomberg.

“Some estimates h

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Some Traders Expect a Pullback in Corn

Posted:
By: Thomas Grisafi
Comments: 1

Sure enough, on Monday corn futures fell from a 14-month high.

And some traders think we could go lower before another bounce comes out way.

"December-delivery corn fell as much as 2.2 percent to $4.32 a bushel on the Chicago Board of Trade, and was at $4.36 a bushel at 10:28 a.m. in Singapore

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Consumers Defy Spending Expectations

Posted:
By: Thomas Grisafi
Comments: 1

The faltering economic recovery received a modest shot in the arm last month as consumer spending increased by 0.4%, the best reading since March. Personal income in July managed a small rise of 0.2%, knocking the savings rate from 6.2% in June to 5.9% in July.

In the meantime, the Personal Consu

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Corn Captures the Commodities Spotlight

Posted:
By: Thomas Grisafi
Comments: 1

Corn traders get ready. There could be lots of price action in grains this week and beyond.

As reported overnight by our friends at Bloomberg, corn futures advanced to a 14-month high on speculation that the U.S., the world’s largest grower and exporter, may miss a forecast record harvest and a

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Coffee Near 13 Year High

Posted:
By: Thomas Grisafi
Comments: 1

A cup of coffee may keep more traders awake long enough to begin trading the commodity, which has been on the rise in recent weeks.

As our friends at the Wall Street Journal reported this weekend, coffee futures are hovering near a 13-year high, "as tight supplies and the prospect of dry weather

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Slowdown in GDP Not So Bad, Say Experts

Posted:
By: Thomas Grisafi
Comments: 1

GDP in Q2 was revised downward, but the latest figure came in better than most economists had anticipated, alleviating fears in some corners that the economy might be poised to enter a new downturn.

The U.S. Commerce Department reported today that preliminary GDP in Q2 grew an an annual rate of 1

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Traders Reflecting on Jackson Hole Comments

Posted:
By: Thomas Grisafi
Comments: 0

At his much-anticipated speech in Jackson Hole, Wyoming, Fed Chief Ben Bernanke said the Federal Reserve will "do all that it can to ensure continuation of the economic recovery" and will strongly resist deflation.

Bernanke said he is seeing stabilization in global economic activity and the begin

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Traders Look to Housing, Jobs and Growth

Posted:
By: Thomas Grisafi
Comments: 0

Although the pronounced slump in housing has much to do with the expired tax credit and early signs do suggest some stability is returning, albeit at a low level, policymakers have to be concerned about the buyers strike that is happening in the housing market.

Moreover, July's report on durable

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Bernanke Takes Center Stage

Posted:
By: Thomas Grisafi
Comments: 1

Thus far, with the exception of today's report on weekly jobless claims, the markets have been treated to a batch of very bad news this week. Home sales have cratered in the wake of the expiration of the home buyers tax credit, while Wednesday's report on durable goods came in far below expectation

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Citi Gets Commodity Hedge Fund Salesman

Posted:
By: Thomas Grisafi
Comments: 0

Citigroup has hired a BNP Paribas hedge fund salesman to head its own commodity hedge fund sales effort.

Christian Lusted has been named director of hedge fund sales on Citi’s London commodities team, Bloomberg News reports. He started at his new post on Aug. 17.

He has more than 15 years of

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Ukraine Delays Grain Export Quota Plans

Posted:
By: Thomas Grisafi
Comments: 1

We at Indiana Grain love nothing better than a little drama in the grains.

Although the Russian wheat debacle was a big enough story for the entire summer, lots of smaller "plots" are continuing to embellish the theatrics that traders are dealing with.

Ukraine said on Wednesday it had put off

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Wall Street Falls on More Bad News

Posted:
By: Thomas Grisafi
Comments: 1

Global stocks are in for another bad day today, thanks to key data on U.S. housing and durable goods orders.

U.S. stock index futures were lower with about an hour before markets open, correctly suggesting that stocks would fall at the start of trading.

Futures for the Dow Jones industrial av

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US Farmers Look Toward Asia

Posted:
By: Thomas Grisafi
Comments: 1

Unlike a few years ago, when surging rice prices provoked near panic in some Asian markets, the region is largely not bothered by the sharp rise in prices for wheat and corn.

Earlier this month, days after Russia banned wheat exports because of a drought, agriculture representatives from the U.S.

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Existing Home Sales Fall to 15 Year Low

Posted:
By: Thomas Grisafi
Comments: 1

Existing home sales in July plummeted to a the lowest level since 1995, as the expired tax credit that helped to fuel housing earlier in the year and shift some sales forward no longer provided much support.

The National Association of Realtors reported that existing homes sales fell 27.2% to an

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German Exports Continue to Impress

Posted:
By: Thomas Grisafi
Comments: 1

Strong export figures support the continued economic growth projections for Germany even as global demand may retract slightly.

The German Finance Ministry said that the second quarter growth of 2.2% was an extraordinary performance and paves the way to a continued expected growth of 2% for the s

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China Expands Its Inter-Currency Trading in Asia

Posted:
By: Thomas Grisafi
Comments: 1

The Chinese Finance Ministry announced late last week that it had pegged its yuan-renminbi to the Malaysian ringgit to facilitate trading between the two countries without the foreign exchange risk associated with international trade.

The China Foreign Exchange Trading Center confirmed that the p

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Surging Wheat Impacts Potash Bids

Posted:
By: Thomas Grisafi
Comments: 1

The battle for Potash is heating up now that the company rejected a $130/share bid from BHP Billiton. Other parties interested in acquiring the company include China Investment Corp. (CIC), the Chinese sovereign wealth fund.

Whichever party ultimately acquires Potash, the company’s value and th

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Spotlight on International Trade Activity

Posted:
By: Thomas Grisafi
Comments: 1

The markets reacted negatively Thursday after the announcement of a rise in jobless claims to top the magical 500,000 figure for the first time since 2009. The bad news is largely offset by the increase in export/import activity and by the positive earnings reports in the first half of the year.

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Pro Farmer Tour Going Smoothly

Posted:
By: Thomas Grisafi
Comments: 1

Yours truly is having a great time on the 2010 Pro Farmer Crop Tour.

We spent the early part of this week scouting fields across the Hoosier State. Teams of crop scouts stopped every 15 miles to assess corn and soybean yield potential. Roger Bernard, East Tour director, reported seeing increased

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Former ConAgra Trading Unit Fined $12 Million

Posted:
By: Thomas Grisafi
Comments: 0

As reported tonight by the Associated Press, "Gavilon Group, the commodities trading business ConAgra Foods sold in 2008, has agreed to pay $12 million to settle price-manipulation charges.

The U.S. Commodity Futures Trading Commission announced the settlement Monday.

ConAgra said in a filing

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Spotlight on Double Dip Recession Prospects

Posted:
By: Thomas Grisafi
Comments: 1

The spotlight continues to shine on the possibility that the economic recovery could stall and a double-dip recession may ensue. Economic data have been far from robust, and last week central bankers at the Federal Reserve cut their outlook on the economy and announced modest steps to bolster activi

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Markets Advance on Potash Takeover Talks

Posted:
By: Thomas Grisafi
Comments: 1

Stocks advanced Tuesday amid a $38.6 billion US hostile takeover bid for Potash Corporation of Saskatchewan and positive earnings report from two big U.S. retailers.

The Board of Potash Corp. rejected the offer from BHP Billiton Ltd., the world's largest mining company, as "grossly inadequate" an

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Euro-Yen Rate Remain Focus of International Currency Markets

Posted:
By: Thomas Grisafi
Comments: 1

The international currency markets are increasingly focusing on the behavior of the euro against the yen and may become the battleground to watch for the next several years.

Currency traders have always focused on how the major currencies fluctuate against the dollar given that it is the preferre

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Pro Farmer Crop Tour Off to Great Start

Posted:
By: Thomas Grisafi
Comments: 1

Beneficial early summer rains boosted corn yields in central and northwest Ohio this year, but recent excessive heat has stressed crops and accelerated maturity, trimming some yield potential, scouts on an annual crop tour said on Monday.

The severe heat also reduced the yield potential of the re

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Commodities Whacking Sara Lee

Posted:
By: Thomas Grisafi
Comments: 1

We at Indiana recently discussed with our good friend Andrew Horowitz on the Discipled Investor the many ways that rising commodities will reach consumers.

A new report from Market Watch picks up where our conversation left off.

"Sara Lee is raising list prices for its breads, deli meats, and

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Sluggish Retail Sales Tell the Whole Story

Posted:
By: Thomas Grisafi
Comments: 1

Uncertainty in the economy and continued concerns going forward are keeping consumers in a cautious pattern, according to the most recent data on spending.

Retail sales in July increased a modest 0.4% on a 1.6% increase in auto sales and a 2.3% gain in sales at gasoline stations (powered by highe

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Indiana Grain Joins Pro Farmer Midwest Crop Tour

Posted:
By: Thomas Grisafi
Comments: 1

Indiana Grain is taking the show on the road.

This year, we will be joining our good friends on the 2010 Pro Farmer Midwest Crop Tour, which is about to kick off.

Crop tour leaders include Chip Flory, Terry Johnston, Roger Bernard and Mark Bernard who will provide their exclusive opinions of w

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Jobless Claims Rise Again

Posted:
By: Thomas Grisafi
Comments: 1

Wall Street has seen a big sell off this week as economic news continues to disappoint. This morning jobless claims unexpectedly rose to 484,000 while the market was expecting a drop to 425,000. The reaction is yet another day that looks like a sell off on Wall Street.

With yields on bonds so

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BP Talks Turkey with White House

Posted:
By: Thomas Grisafi
Comments: 1

BP and the White House reached an agreement yesterday afternoon on how to fund the $20 billion escrow account and pay for the total cleanup cost of the oil spill in the Gulf of Mexico.

According to the agreement, BP is allowed to use US oil production revenue as collateral for the $20 billion fun

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US to Capitalize on Russia Wheat Ban

Posted:
By: Thomas Grisafi
Comments: 1

The United States plans to seize on Russia’s ban on wheat exports to boost sales of its own supplies, Agriculture Secretary Tom Vilsack said today. “This is an opportunity for us and we’re going to take advantage of it,” Vilsack said. He said that the United States and Canada should have ade

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Fed Adjusts Course, Lowers Outlook

Posted:
By: Thomas Grisafi
Comments: 1

The Federal Reserve decided to make an adjustment in monetary policy for the first time in over a year, voting almost unanimously for a mid-course change designed to counter the slowing economy.

The Federal Open Market Committee (FOMC) said it will maintain current holdings on its balance sheet "

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Wheat Volatility Not Hurting Tyson

Posted:
By: Thomas Grisafi
Comments: 1

We at Indiana Grain have spent considerable time considering the industries, products, and companies that will be impacted by soaring prices of wheat.

This week, Tyson Foods came into focus in that consideration despite the company shrugging off last week’s wheat price explosion and saying it

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US Corn Farmers Hopeful on China

Posted:
By: Thomas Grisafi
Comments: 1

China could be about to increase its corn imports, offering American farmers a chance for greater profits but making it likely U.S. meat producers who use the grain for feed would have to raise their prices.

U.S. farmers said they're cautious but hopeful about doing more business with China, whic

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Uncertainty Pressures the Fed

Posted:
By: Thomas Grisafi
Comments: 1

The slowdown in the economy and the lack of a meaningful pick up in hiring are putting renewed pressure on the Fed when it meets this Tuesday to determine monetary policy and interest rates.

The Fed ran out of room to ease long ago when it cut the target on its key lending rate to just above zero

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Tom Grisafi Joins Dennis Gartman on The Disciplined Investor

Posted:
By: Michael Essany
Comments: 1

Indiana Grain CEO Thomas Grisafi will appear this weekend for a special commodities themed discussion with Andrew Horowitz on The Disciplined Investor.

Grisafi, a veteran trader and commodities expert, is a member of the CBOT, CME, MGEX, NYMEX, and COMEX.

This weekend, Grisafi is joined by fe

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AP Turns to Indiana Grain and Tom Grisafi

Posted:
By: Michael Essany
Comments: 1

The Associate Press today spoke with Indiana Grain CEO Thomas Grisafi for insight into the latest wheat debacle and Russia's decision to ban wheat exports for the rest of the year.

On Thursday, wheat prices reached the highest level in two years.

"The American farmer is walking into a gold min

...

Tom Grisafi in Forbes Magazine

Posted:
By: Michael Essany
Comments: 1

Indiana Grain CEO Thomas Grisafi was featured in a Forbes Magazine story this week, following the global attention befalling crop conditions around the world.

Grisafi, who follows and, in turn, is followed by scores of farmers, agricultural professionals, and other traders on Twitter, was profile

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Wheat Limit Up as Russia Bans Exports

Posted:
By: Thomas Grisafi
Comments: 2

Wheat futures soared to a 23-month high today Thursday after Russian Prime Minister Vladimir Putin announced a temporary ban on the export of grain and related farm products from the drought-wracked country.

With Russia at the mercy of its worst drought in over a century, Mr. Putin also pledged $

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Ethanol Boosts ADM Profits

Posted:
By: Thomas Grisafi
Comments: 0

Agriculture and food manufacturing giant Archer Daniels Midland Co. reported Aug. 3 it had netted $246 million more in earnings for fiscal year 2010 than the previous year. Total net earnings for fiscal year 2010 were $1.9 billion. Segment operating profits were $3.2 billion, up $786 million from la

...

Coffee Traders Beware

Posted:
By: Thomas Grisafi
Comments: 0

The headline from a new Bloomberg report says it all: "Coffee May Plummet to $1.54 a Pound Within a Week."

No matter how much coffee you drink, that's a sobering statistic to keep you up at night, particularly if you're a coffee trader.

According to the Bloomberg report, coffee futures may slu

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Gold Getting New Reporting Requirements

Posted:
By: Thomas Grisafi
Comments: 1

Starting January 1, 2012, the sale to a business of all goods and services (including rare coins and bullion) that exceed $600 during a calendar year will have to be reported by the purchaser to the federal government.

For example, let’s say someone has an antique chair that they want to sell

...

Unlikely Indicator of US Economic Activity

Posted:
By: Thomas Grisafi
Comments: 1

The Georgia Port Authority released its second half figures for the 2010 fiscal year this week, showing robust growth and a remarkable comeback from a dismal and disappointing 2009. The fourth largest US port further solidified its position as the port of choice for both imports and exports.

The

...

Risk Appetite Returns in Stocks, Commodities

Posted:
By: Thomas Grisafi
Comments: 1

Risk appetite returned with a vengeance Monday, as evidenced by the strong rally being seen in U.S. stocks and commodities and the rebound seen in the euro, sterling and other currencies, which were rising versus the dollar.

Better-than-expected global purchasing managers indexes were being menti

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Paul Tudor Jones Gets Political

Posted:
By: Thomas Grisafi
Comments: 0

The Freedom First Committee, the political advocacy group run by Merritt Island Republican Mike Haridopolos, collected $100,000 from Progress Energy on Wednesday. Hedge fund manager Paul Tudor Jones gave another $100,000. In recent weeks, Haridopolos has also taken $50,000 checks from FPL, the Flori

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Wheat Explodes as Traders Embrace Rally

Posted:
By: Thomas Grisafi
Comments: 1

We at Indiana Grain aren't alone in saying it was a great day for wheat traders to have come in long to start this week of trading in grains.

US wheat futures exploded Monday to a 22-month high as the market started a new month on a bullish note following its biggest monthly gain since at least 1

...

New Laws on Spot Commodities

Posted:
By: Thomas Grisafi
Comments: 0

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Act”) has changed a number of laws in all of the securities acts including the Commodity Exchange Act. Two specific changes deal with the certain transactions in commodities on the spot market. Specifically, Section 742 of the A

...

It's a Rally for Wheat on Supply Concerns

Posted:
By: Thomas Grisafi
Comments: 1

As Bloomberg news reported tonight, wheat rose to the highest price in almost 14 months by the end of last week as droughts in exporting countries including Russia threatened to reduce supplies.

Global inventories will fall to 192 million metric tons by June 30, down 2.5 per cent from a year earl

...

Canadian Wheat Harvest to Fall

Posted:
By: Thomas Grisafi
Comments: 1

The Canadian Wheat Board has said that owing to the soggy weather conditions, Canada will yield 17% less amount of wheat, compared to a year before. The rainy weather did not allow to sow seeds in certain regions and spoiled the plants.

On Friday, the Board said in a statement on its website that

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Concerns Mount on Higher Ethanol Blend

Posted:
By: Thomas Grisafi
Comments: 1

Leading members of the U.S. House Energy and Commerce Committee raised concerns about increasing the ethanol content in gasoline without adequate testing proving it won't harm vehicle, marine and equipment engines.

The EPA is currently considering a waiver submitted last year by Growth Energy, a

...

Traders Look to GDP Today

Posted:
By: Thomas Grisafi
Comments: 1

The advance estimate for Q2 Gross Domestic Product (GDP) will be released on Friday and is widely expected to confirm that the economy slowed from a downwardly revised annual rate of 2.7% in Q1 to 2.5%, according to Bloomberg News.

Consumer spending, which accelerated in the first three months of

...

Citigroup Keeps Buy Rating on Corn Products International

Posted:
By: Thomas Grisafi
Comments: 1

According to a report from American Banking and Marketing News, Citigroup, Inc analysts maintained a “buy” rating on shares of Corn Products International with a price target of $39.00.

The analysts wrote, “We are increasing our price target on CPO shares to $39 as business fundamentals app

...

CBOT Corn Comes Alive

Posted:
By: Thomas Grisafi
Comments: 1

We at Indiana Grain love a bull market in grains.

And that's exactly what we saw in corn on Wednesday, as the grain rallied in tandem with wheat and quickly prompted a flurry of short-covering.

Sep. corn closed up 13 1/2 cents to $3.76 1/4, while Dec. corn finished up 13 3/4 cents to $3.90 3/4

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