Archive | May, 2005

China to launch options on copper, other commodities

SHANGHAI – China’s three commodities exchanges, led by the Shanghai Futures Exchange, are vying to introduce options in the next two years to capture more trading. Shanghai copper futures, which account for nearly 40 percent of all futures trade in China, are the likely first candidate for an options contract, which gives a purchaser the […]

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Foreign exchange trade in China surges

Xinhua – April saw dynamic trade on the inter-bank foreign exchange market in China, with a robust month-on-month growth of 40 percent in average daily transaction volume, which reached US$1.282 billion. According to the Shanghai-based national forex swap center, turnover of the US dollar, the Japanese yen, the HK dollar and the euro, amounted to […]

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Surprising Transparency on Swiss Gold Sales

By Tim Wood – NEW YORK (ResourceInvestor.com) — A frank speech by Dr Philipp M Hildebrand of the Swiss National Bank has taken the lid off the country’s controversial disposal of 1,290 tonnes of gold at the turn of the century. Hildebrand addressed the Institute for International Economics on May 5 in Washington, D.C. on […]

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Brazilian Soybeans Not So Attractive To Foreign Buyers

USAgNet – 05/12/2005 – International soybean buyers are steering away from Brazil this year due to a strong Brazil currency, farmer stock retention and crop losses, according to bean traders. Last year producers had to wait in long lines at the Parangua port to deliver their soybeans. This year there are no lines as producers […]

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U.S. Farm income could nosedive in ’05

By Daniel Grant – Farmers who enjoyed a highly profitable season last year likely can expect more of a “normal” year in 2005. A baseline projection from the Food and Agricultural Policy Research Institute (FAPRI) — a joint effort between the University of Missouri and Iowa State University — is calling for U.S. net farm […]

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Reuters and Jefferies Announce Significant Update to CRB Index

50-Year-Old Commodity Benchmark Undergoes Tenth Revision NEW YORK–(BUSINESS WIRE)–May 10, 2005–Reuters (LSE: RTR, Nasdaq: RTRSY), the global information company, and Jefferies Financial Products, LLC, a leading provider of commodity-related products for institutional investors and a subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced a strategic alliance to revise the Reuters CRB Index, to be […]

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Glittering future predicted for Dubai gold exchange

By C.L. Jose – Dubai: The Dubai Gold and Commodities Exchange (DGCX), which is expected to go live this year, will float a fully owned subsidiary to carry out the settlement of trades on the exchange. David Rutledge, chief executive officer of the Dubai Metals and Commodities Centre (DMCC), said the new clearing house being […]

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Deutsche Bank is largest forex house in the World

Deutsche Bank has become the largest foreign exchange trading bank in Asia, and the world, according to a major global market share survey undertaken by respected capital markets magazine, Euromoney. The Euromoney’s 2005 survey gathered information from nearly 4,500 wholesale foreign exchange clients globally, including corporate treasurers and fund managers. According to the results, Deutsche […]

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Lots of energy left in commodities

By Jade Hemeon – Commodities have been making big headlines lately. Tight supply and surging global demand fuelled by China and India are boosting the prices of a range of products from energy and metals to coffee and orange juice. The Commodity Research Bureau (CRB) Index is hitting heights not seen in 24 years, and […]

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May Day Gold Massacre Not All it Seems

By Tim Wood – NEW YORK (ResourceInvestor.com) — With some markets closed for May Day, gold and silver prices were hammered in New York trading. Yet related equities barely moved with a global set of more than 80 public companies losing an average of just 1%, even on low volumes. It is the low volumes […]

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