GFM Network News


Derwin: Dollar direction signals hard to decipher

Every week the Commodity Futures Trading Commission (CFTC) releases its Commitments of Traders (COT) report. But just how committed are the traders shown in those trading activity reports? When you look at what traders can also do in the cash, over-the-counter and physical markets associated with those futures contracts, it’s difficult to say for sure. This

Corn has recently been under pressure from big crop pegs out of South America and chart-based selling, as well as general uncertainty in the markets over the future of U.S.-China trade.

Comment: Long positions on corn liquidated

Funds sold their entire CBOT corn long position undetected during U.S. govt. shutdown

Within the span of six weeks, commodity funds dumped bullish bets in Chicago-traded corn futures and options without the market’s knowledge. Market participants were under the impression that speculators closed out January relatively optimistic toward the grains. However, data from the U.S. Commodity Futures Trading Commission (CFTC) confirmed otherwise on Feb. 19. Hedge funds and


Hedge funds get bullish on corn and natural gas

Hedge funds and other big speculators raised their bullish bets on U.S. commodities for the first time in five weeks, piling mostly into natural gas and corn due to favourable supply-and-demand situations, trade data showed Mar. 15. Natural gas saw close to $2 billion worth of new net long contracts by the so-called money managers

Fiscal battles block work on new U.S. farm subsidy bill

Reuters / Fiscal battles in Congress could prevent lawmakers from writing a new Farm Bill for weeks or months, prolonging disputes over farm subsidy reforms and cuts in food stamps for the poor that together could save up to $35 billion. Agricultural leaders in Congress originally hoped for speedy work on the overdue Farm Bill

U.S. futures regulator targets commodity speculation

washington / chicago / reuters The top U.S. futures regulator says he would support appealing a court ruling last month that struck down his agency’s attempt to place limits on speculation in commodity markets. Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, said his agency drafted the original rule at the direction of


U.S. judge delays efforts to rein in speculators

AU.S. judge has knocked back tough new rules to clamp down on excessive speculation in commodity markets, handing an 11th-hour victory to Wall Street’s biggest banks and angering lawmakers concerned about high prices for gasoline and other raw materials. Just two weeks before the “position limits” rule was to take effect, U.S. District Court Judge

Futures industry shaken as another broker goes bankrupt

Reuters / Russell Wasendorf Sr., arrested last Friday, confessed to a 20-year fraud at Peregrine Financial Group (PFG), his now-bankrupt Iowa brokerage, saying business troubles and his “big” ego left him no choice: “So I cheated.” In the dramatic conclusion to a week-long saga that has shaken trader confidence in the trillion-dollar U.S. futures markets,

CBOT, grain traders face off in court

chicago / reuters / CME Group faced off with a group of traders in Federal Court June 26 over new rules for settling end-of-day grain prices that the traders fear will put them out of business. The traders, who work in the open-outcry pits at CME’s Chicago Board of Trade, are fighting to preserve a


CFTC allows CME to open early for crop reports

chicago / reuters / The Commodity Futures Trading Commission approved the Chicago Board of Trade’s plan to start open-outcry grain trading early on days the U.S. government issues major agricultural reports, a commission spokesman said June 11. CME Group, owner of the CBOT, told the CFTC it wanted to start pit trading at 7:20 a.m.

USDA asks markets when is the best time for data

washington/reuters / The government asked farmers, traders and futures exchanges June 7 for ideas on when it should release potentially market-moving agricultural reports, such as crop forecasts, now that commodity markets are open nearly all day. It could result in the first change in the U.S. Department of Agriculture reports in nearly two decades and