WHEAT – Up 18 to 20 cents per bushel. Flooding in global wheat producer and exporter Australia boosting prices to a five-month high. ** Bitter cold temperatures over the weekend in the U.S. Plains hard red winter wheat area likely caused little to no harm to the crop as a blanket of insulating snow covered… read more
Tag Archives: economic news
Futures news – U.S. Construction spending a 5-month high in November.
WASHINGTON, Jan 3 (Reuters) – U.S. construction spending rose more than expected in November to touch its highest level in five months, a government report showed on Monday, afurther sign that the economic recovery was gaining momentum. The Commerce Department said construction spending increased 0.4 percent to an annual rate of $810.2 billion, the highest… read more
Futures news – U.S. Crude oil stocks down again this week.
NEW YORK, Dec 30 (Reuters) – U.S. crude oil inventories fell less than expected last week as refinery utilization rose, according to a weekly report from the Energy Information Administration on Thursday. Domestic crude stocks dropped by 1.26 million barrels to 339.43 million barrels in the week to Dec. 24, the report showed, against expectations… read more
Futures news – Initial Jobless claims drop 34,000 last week
WASHINGTON, Dec 30 (Reuters) – New U.S. claims for jobless said hit their lowest level in more than two years last week and factory activity in the Midwest grew in December at its fastpace since 1988, evidence the recovery was gaining steam. Views economic activity accelerated in the fourth quarter were hardened by another report… read more
Grain News and Opening Calls / Futures Brorker
WHEAT – Down 2 to 4 cents per bushel. Concerns about China’s interest rate hike weighed on market but drop expected to be limited by weakness in U.S. dollar and low-quality of Australia’s crop. * China says supplies of wheat are sufficient. * Russian wheat output fell by 32.7 percent to 41.5 million tonnes in… read more
US Jobless claims dip, consumer spending rises
* Weekly jobless claims fall 3,000 * Consumer spending up 0.4 pct in Nov * Durable goods orders fall 1.3 pct * Orders ex-transportation surge 2.4 pct WASHINGTON, Dec 23 (Reuters) – New U.S. claims for jobless benefits dipped last week and consumer spending increased in November for a fifth straight month, reinforcing views of… read more
EIA Inventory Report / Futures Broker
EIA Inventory Report * Crude stocks fall 5.33 million barrels * Distillate stocks off 589,000 barrels * Gasoline stocks up 2.4 million barrels NEW YORK, Dec 22 (Reuters) – U.S. crude inventories fell more than expected last week while gasoline stocks rose, according to a weekly report from the Energy Information Administration on Wednesday. Domestic… read more
Hogs Higher On Higher Cash Prices / Futures Broker
KANSAS CITY (Dow Jones) — U.S. hog futures are sharply higher in early trading Wednesday on stronger-than-expected cash prices just ahead of the christmas holiday, expectations of smaller slaughter-ready hog supplies by mid-January and spillover support from gains in cattle and most other commodity sector.… read more
Home Sales Less Than Expected / Futures Broker
WASHINGTON, Dec 22 (Reuters) – Sales of previously owned homes rose less than expected in November, suggesting the U.S. housing sector is struggling to gain traction as high unemployment and tight lending standards continue to hamper recovery. Sales rose 5.6 percent to a seasonally adjusted annual unit rate of 4.68 million units, the National Association… read more
3rd Quarter GDP Higher Than Expected – Futures Trading News
WASHINGTON, Dec 22 (Reuters) – U.S. economic growth was a touch higher than previously estimated in the third quarter, but below expectations as a rise in the pace of inventory accumulation was offset by downward revisions to consumer spending, a government report showed on Wednesday. Gross domestic product growth was revised up to an annualized… read more