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Commodities Briefing 01.Nov 2011

Posted on 01 November 2011 by VRS |  Email |Print

Well, today — give or take — the world is 7 billion people big. That, at least, is what the UN has been saying. The fact that the world’s population hit 7 billion is almost less astounding than the fact that it was 6 billion only 12 years ago! That means, of course, that each milestone is coming exponentially faster.
Perhaps the more worrisome issue is how to stretch our finite commodities resources over the exploding population’s needs. The obvious commodities in this case – agricultural crops and water – will be the most immediately strained in the upcoming decades. But how will raw industrial materials – minerals, ores and oils – and the industrial metals that depend on them be affected?……………………………………….Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

Financial markets rallied across the board last week as mainly driven by announcement of the EU rescue package on the sovereign debt crisis in the Eurozone. The news from Europe that its leaders (after two years of turmoil) finally delivered what looks like a useful set of tools to bring the crisis, if not to an end then at least under some sort of control triggered huge rallies across riskier assets.
Doubts remain over how the rescue plan is going to work and whether all those measures are enough to stem the crisis………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

Measures to try and shore up the global economy will dominate the agenda G20 Summit in Cannes this week, with EU leaders hoping that concrete progress can be made on tackling excessive volatility of commodity prices.
With the threat of a global recession lingering, heads of government will lock horns over reform of financial markets, with France as G20 Presidency holder pushing for more intervention in commodity markets - particularly agricultural ones………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

New Zealand commodity prices had the biggest monthly decline since February 2009, rounding out the fifth consecutive slide, led by dairy products and kiwifruit.
The ANZ Commodity Price Index dropped 3.5 per cent in October and has fallen 7.9 per cent from its May peak. Of the 17 commodities measured, 10 fell, two rose and five were unchanged………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

Oil prices above $100 per barrel are a threat to the global economy, Richard Jones, deputy executive director of the International Energy Agency (IEA) said on Tuesday.
He also said the IEA was not looking at another release of emergency oil stocks. The IEA had coordinated a release of oil from emergency stocks earlier this year to help avoid a sharp slowdown in the global economy sparked by high energy prices………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

OPEC oil output has fallen for a second month in October as reduced supplies from Iraq, Nigeria, Saudi Arabia and Angola offset a further rise in Libyan supply, a Reuters survey found on Monday.
Supply from all 12 members of the Organization of the Petroleum Exporting Countries is expected to average 29.59 million barrels per day (bpd) this month, down from a revised 29.90 million bpd in September, the survey of sources at oil companies, OPEC officials and analysts found………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

OPEC’s Secretary-General Abdalla Salem el-Badri says the global crude oil market is balanced and the current prices are reasonable.
He described the current crude prices as reasonable and satisfactory, and said, “There is no oversupply in the crude market and the market is balanced.”……………………………………….Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

The UAE Energy Minister Mohammed bin Dha’en Al Hamili said on Monday that crude-oil prices in the $80-$100 range create conditions that allow producers to continue expanding production capacity.
He said a high oil price would lead to more investment in alternative energy and also more investment in crude production capacity, which would mean less volatile prices………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

The IEA does not want OPEC to cut output at a meeting in December as demand for the producer group’s oil will be half a million barrels per day (bpd) more in 2012 than it pumped last month, a top IEA official said on Monday.
Gulf Arab oil producers raised oil supply this year to compensate for the loss of output from Libya, where civil war shut down production. Libya’s output is recovering, but the International Energy Agency saw no need for producers to cut back, the agency’s Deputy Executive Director Richard Jones said………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

A renowned contrarian investor has said investors should allocate a quarter of their portfolios to Gold Bullion. Unprecedented levels of borrowing will leave governments with no choice but to monetize their debts – in effect printing money – according to Marc Faber, publisher of the Gloom Boom & Doom Report.
“The best thing an individual investor can do right now is to hold 25% of his assets in equities, 25% in real estate, 25% in gold, and 25% in cash,” said Faber last week. “If equities, real estate, or gold drop another 10% to 20%, put more cash in.”……………………………………….Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

The World Gold Council (WGC) has released a new report that claims that the amassing of gold as a private investment is becoming a desirable alternative to other forms.
Compared to private equity, hedge funds real estate and commodity trading, gold as an investment is said to reduce the risk of monetary loss while maintaining long-term returns………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

Gold’s allure drew speculators back in, who added to bullish futures and options positions, according to U.S. government data released Friday.
In addition to gold, speculators added to net long positions for Silver in both the legacy and disaggregated weekly commitment of traders reports released by the U.S. Commodity Futures Trading Commission for the week ended Oct. 25………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

Benzinga is proud to unveil yet another first-of-its-kind weekly ETF feature: Whatever happened to…? Every Monday, we’ll take a look at an ETF that previously had all-star status and has either become a fallen star, or just is now somewhat ignored by the mainstream financial press and investors alike.
In a rapidly expanding universe of exchange-traded products, there are no shortage of options for “Whatever Happened to…?” candidates. So consider this feature the written version of Googling an old classmate or finding an old friend on Facebook………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

As ETFs have burst on to the scene in recent years, just about every serious investor and professional money manager has taken a crash course in exchange-traded products, becoming familiar with the countless benefits and nuances of these products.
Features such as enhanced transparency, upgraded tax efficiency, and low costs are generally well known at this point, as are the tickers of many of the more popular exchange-traded products ……………………………………….Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

Barclays Plc reported lower contributions from its commodities trading division in January-September 2011 after extreme volatility in oil and metals in the second and third quarters took a toll.
The results, which suggest increasing competition in the crowded sector, mirror weaker performance by major commodities players on Wall Street. They contrast with the improved performance of some European rivals………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

The rule making under Dodd-Frank and EMIR are a dry dust place but they are starting to get a bit more real and a bit more interesting….
Back in 2008, the G20 specified that OTC derivatives contracts should be reported to trade repositories. The US Dodd-Frank regulations have defined that swap data repositories (SDRs) are to be responsible for collecting this data, and the rules governing this have recently been published. In response to this, the industry (primarily the banks), under the International Swaps and Derivatives Association (ISDA) have been going through a process of selecting providers for different classes of instrument………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

It was my good fortune to receive an advance copy of Jim Rickards’ new book, “Currency Wars”. It is a great book, and I highly recommend it.
The book is split into three parts, with the first part being almost surreal because it reads more like a novel than non-fiction. It details Rickards’ participation in an exercise at the Warfare Analysis Laboratory near Washington D.C………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

Latin American currencies weakened against the U.S. dollar on Monday, led by Mexico’s peso and Brazil’s real, after Japan’s central bank intervened to stem the yen’s appreciation against the greenback.
The strengthening of the dollar after Japan’s second yen-selling move in less than three months caused global stock and commodities prices to fall………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

Climate Change Minister Greg Combet’s claims beggar belief in light of the government’s failure to make available for scrutiny Treasury’s modelling behind the carbon tax package (”Blood oath to repeal carbon price beggars belief”, 31/10).
He could not have been aware of Canada’s position, reported on by Greg Sheridan, that there will never be a global market for emissions trading………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

Twenty-six nations are expected to lodge a formal protest on Wednesday against a European Union law to make airlines pay for carbon emissions — adding to transatlantic tension on an issue that has triggered a tit-for-tat bill in the U.S. Congress.
Under EU legislation, from January 1 all flights to or from Europe will have to buy carbon permits to help offset their emissions under the EU Emissions Trading Scheme (EU-ETS) — the 27 member bloc’s prime tool for trying to curb the amount of carbon in the atmosphere………………………………………..Full Article: Source

Posted on 01 November 2011 by VRS |  Email |Print

Thackray’s 2011 Investor’s Guide notes that the best performing subsector in the month of November during the past 15 years is the agricultural products sector. The average gain per period was 5.6 per cent. The easiest way to invest in the sector other than ownership of futures contracts is through exchange-traded notes (ETNs).
ETNs consist of a combination of short term notes and commodity futures contracts designed to track the trend of the underlying commodity. Notes are bought and sold on U.S. exchanges like stocks. They are non-leveraged………………………………………..Full Article: Source

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