Gas Petrospective – February 22, 2012
Natural gas prices sold back off on Tuesday, with prices dropping 5.8 cents per million Btu. That is to be expected. We had two sessions celebrating the fact that lastMorning Petrospective – February 22, 2012
Traders returned from the Presidents’ Day holiday weekend to discover that the Greek debt crisis had been resolved (yet again). It has been resolved a number of times since lateNo Fee for natural gas position management trades executed on the Parity Energy Platform (PEP)
No Fee for natural gas position management trades executed on the Parity Energy Platform (PEP)
Courtesy of Parity Energy Inc.
As a reminder, there is no fee for natural gas position management trades executed on the Parity Energy Platform (PEP)* for the remainder of February 2012. Read more
Morning Gold Fix – February 22, 2012
Summary
April Gold settled at $1758.50 per troy ounce on Tuesday, a gain of $32.60 for the day.
Apr gold was down $3.3 to $1755.2 per 100 troy ounces as of 8:25 EST this morning. The March U.S. dollar index was up .254 to $79.390. April platinum was up $15.0 to $1699.9 per 50 troy ounces. March silver was down 35.4 cents to $34.075.
Market Recap:
U.S. Markets were closed for President’s Day on Monday, but traders were following the latest news out of Europe closely. By Tuesday, almost anything could come out bullish for the metals complex did come out bullish for the metals complex. Platinum outperformed, ostensibly lifted by a Yen intervention last week that vivified Japanese manufacturing. Gold rallied on the back of a stronger Euro and the resolution of the latest Greek rescue package. Silver followed the other metals higher. Finally, we would be remiss not to mention China lowering reserve requirements in an effort to stimulate its economy.
Going Granular – February 22, 2012
Morning Round-up
Bloomberg (Reported 2/22/2012)
Raw sugar climbed for a fifth day in New York, the longest winning streak in a month, on speculation supplies will remain limited after a drought damaged the crop in Mexico. Coffee and cocoa slid in New York. A drought in Mexico has reduced the crop to 5.1 million metric tons from a previous forecast of 5.3 million tons, an industry committee said on Feb. 10. Mexico now plans to approve imports of 250,000 tons of sugar, according to a proposal by the country’s economy ministry. Sugar Advances for Fifth Day, Lifted by Drought in Mexico; Cocoa Declines
Agrimoney.com (Reported 2/22/2012)
Ukraine's farm minister, for a second time, denied talk of behind-the-scenes curbs on wheat exports as he forecast a historically strong grains harvest despite weather damage to winter crops. Mykola Prysyazhnyuk, the Ukraine agriculture minister, said the government had made "no recommendations to limit wheat exports", contrary to allegations on Friday in the Ekonomicheskie Izvestia newspaper of a ceiling of 1.7m tonnes in the February-to-July period. Ukraine, again, denies wheat export curbs Read more
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