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Agriculture and Softs Commodity News from Commodities Now
World’s first global Black Pepper futures contract to launch on SMX
Singapore, 3 February 2012
Singapore Mercantile Exchange ( SMX) will launch the world‟s first global Black Pepper futures contract on February 10, 2012 and also mark SMX's first agricultural commodities futures contract aimed at creating a new global benchmark for a commodity predominantly produced and exported from the Asia Pacific region to the West.
Read more: World’s first global Black Pepper futures contract to launch on SMX
CME Group establishes $100M fund for farmers
Chicago, 2 February 2012
CME Group today announced that it will establish a $100 million fund designed to provide further protection of customer segregated funds for U.S. family farmers and ranchers who hedge their business in CME Group futures markets. In light of the recent MF Global failure, in which a clearing firm violated CFTC regulations and misused customer monies that should have been kept segregated, CME Group is adding this extra security measure to protect the country’s food producers who are using CME Group futures markets to hedge their crops and livestock that feed the world.
Czarnikow sees indeterminate outlook for sugar in 2012
London, 2 February 2012
2012 could be a good year for consumers as the easing of commodity balance sheets leads to falling food price inflation. The sugar market is anticipating growth in Brazilian cane production, which should reverse the recent decline and we predict converging sugar and ethanol prices in 2012, with higher global closing stocks resulting from the return to surplus in the 2011/12 season.
Read more: Czarnikow sees indeterminate outlook for sugar in 2012
Point Carbon slashes CO2 price outlook ... again
London, 28 January 2012
Thomson Reuters Point Carbon analysts have slashed their price forecasts for EU Allowances and U.N.-backed offsets for the second time in two months to reflect swelling supplies and the demand destruction caused by the euro zone debt crisis.
ICE extends raw sugar trading hours, eyes Asia
Singapore, 26 January 2012: Reuters
Extended trading hours for New York sugar futures will offer Asian consumers a chance to hedge on the exchange which sets the tone for global prices, but liquidity may take some time to pick up.
ICE Futures Canada trades new Wheat contract
Winnipeg, 24 January 2012
ICE Futures Canada, Canada's leading agricultural exchange and a subsidiary of IntercontinentalExchange, announced the successful introduction of its new milling wheat futures contract, which began trading today.
CME Group expands centrally cleared OTC agricultural offering
Chicago, 23 January 2012
CME Group today announced it has expanded its centrally cleared, over-the-counter (OTC) agricultural swap offering through the introduction of eight new grain and oilseed swaps. The new swaps will be available for clearing on February 13, pending regulatory review. Among the offering are five new bullet swaps and three additional calendar swaps, which are listed with, and subject to, the rules and regulations of CBOT.
Read more: CME Group expands centrally cleared OTC agricultural offering
FAO Food Price Index ends year with sharp decline
Rome, 12 January 2012
Food prices fell in December 2011 with the FAO Food Price Index dropping 2.4 percent, or five points from November, FAO said today. At its new level of 211 points, the Index was 11.3 percent (27 points) below its peak in February 2011. The decline was driven by sharp falls in international prices of cereals, sugar and oils due to bumper 2011 crops coupled with slowing demand and a stronger US dollar. Most commodities were affected.
Read more: FAO Food Price Index ends year with sharp decline
Czarnikow: 2011/12 sugar surplus to 6.1m mtrv
London, 16 December 2011
Czarnikow: In our August review, we highlighted the negative impact a lower Brazilian crop would have on the 11/12 sugar surplus. However, strong European production has now increased the 11/12 surplus to 6.1m mtrv, with aggregate global production achieving a new record of 177.1m mtrv.
Food prices ease marginally
Rome, 8 December 2011
The FAO Food Price Index in November was virtually unchanged from its October level. At the new level of 215 points, the Index was 23 points, or 10 percent, below its peak in February 2011 but remained two points, or one percent, above its level in November 2010. The prices of cereals, one of the main commodity groups included in the Food Price Index, dropped by 3 points or 1 percent from October. The retreat was largely driven by wheat prices, which dropped 3 percent, while rice quotations fell only slightly and coarse grain prices remained virtually unchanged. Nevertheless, the cereals index remained 6 points higher than in November 2010.
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