• • • • •

Investors were also wary as the Federal Reserve prepared to start a two-day meeting that will decide the level of interest rates and reveal the central bank’s outlook for the economy as signs of recession mount. Demonstrating the resistance the broad market has encountered, the benchmark S&P 500 . SPX briefly rose above 1,400 but has failed to finish above the psychologically important level since mid-January. S&P 500 futures SPc1 fell 1. Dow Jones industrial average futures DJc1 shed 34 points, and Nasdaq 100 futures NDc1 declined 6. read more

Technorati Tags: , futures, 500, delayed, dow, level, news

HONG KONG (Reuters) – In an office full of modern Chinese paintings overlooking Hong Kong’s Victoria Harbour, Richard Elman, founder and head of Asia’s largest commodities supplier Noble Group, says he has been lucky. Elman, who began his career in a scrap yard in England at the age of 15, is among the few non-Chinese listed by Forbes magazine as the wealthiest in town. Its assets stretch from iron ore reserves in Brazil and ports in Argentina, to coal mines in Indonesia and soy crushers in China. Fuelled by surging demand from Asian countries such as China and India, Noble’s net profit spiralled to $258 million by 2007, rising more than 10-fold since 2000. read more

Technorati Tags: elman, hong, noble, , 15, china, news

Catch the latest as India’s inflation hits a record three year-high at 7 percent. Senator and democratic presidential hopeful Barack Obama plays a game of 3 on 3 basketball at a campaign stop in Indiana. Thomson Reuters is the world’s largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. read more

Technorati Tags: news, reuters, 3, business, delayed, minutes, news

Rice is the latest in a string of commodities to hit record highs, prompting at least two retailers this week to restrict how much customers can buy. On Wednesday, rice futures hit a record high due to surging world demand, particularly in developing countries, and poor crop yields. It will only allow customers to buy four bags at a time of imported jasmine, basmati and long grain white rice. Cold and wet weather in corn-growing areas has slowed spring planting and led some farmers to consider planting soybeans instead. Meat producers may benefit the most from a bigger soybean supply – and the falling prices that go along with it – since they use the grain to make animal feed. Sitemap Help Contact Us Investment Newsletters Forbes Conferences Forbes Magazines Forbes Autos Ad Information Forbes. read more

Technorati Tags: forbes, rice, , led, price, soybeans, news

NEW YORK, April 25 (Reuters) – The New York Mercantile Exchange said Friday that it will change margins for its Henry Hub natural gas futures and other related natural gas futures contracts, effective at the close of business on April 28. Margins for the first and second months of the Henry Hub natural gas, natural gas penultimate financial, and natural gas last day financial futures contracts will increase to $7,250 from $6,250 for clearing members, to $7,975 from $6,875 for members, and to $9,788 from $8,438 for customers. Margins for the 11th to 22nd months will increase to $5,500 from $5,000 for clearing members, to $6,050 from $5,500 for members, and to $7,425 from $6,750 for customers. Margins for the 35th to 46th months will increase to $4,250 from $3,750 for clearing members, to $4,675 from $4,125 for members, and to $5,738 from $5,063 for customers. Margins for all other months will increase to $3,750 from $3,250 for clearing members, to $4,125 from $3,575 for members, and to $5,063 from $4,388 for customers. read more

Technorati Tags: members, margins, clearing, customers, increase, months, news

Bill Miller , manager of the Legg Mason Value Trust mutual fund, has published his first-quarter shareholder letter, in which he explains and defends his abysmal performance. As many investors know, Miller had a legendary record with the fund, beating the S&P 500 index for 15 straight years through 2005. Tom Petruno has been chronicling financial markets’ highs and lows since 1979, and has been the Times’ financial columnist since 1990. He writes on markets, corporate finance and the economy, and how it all ties in to individual investors’ portfolios. California/Local | National | World | Sports Opinion | Entertainment | Travel | Health L. read more

Technorati Tags: 124, markets, financial, , commodities, economy, news

Thomson Reuters is the world’s largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here . read more

Technorati Tags: news, reuters, business, delayed, minutes, thomson, news

CHICAGO (AP) — Agriculture futures traded higher Tuesday on the Chicago Board of Trade. Wheat for May delivery rose 6 cents to $8. Beef futures traded higher and pork futures traded mixed on the Chicago Mercantile Exchange. Copyright © 2008 The Associated Press. read more

Technorati Tags: chicago, futures, traded, higher, 2008, 6, news

Prime Minister Manmohan Singh had asked the council to review the proposal, announced in the 2008-09 Union Budget, following representations from industry and the Forwards Markets Commission (FMC), the commodities exchange regulator. Sources told ET that the council has submitted its report to the prime minister, recommending a partial withdrawal of CTT, saying that the new tax would be detrimental to commodities trading, which is still in its nascent stage. The finance ministry will now carry out a review of CTT, based on the council?s recommendations before the Finance Bill is passed by Parliament. The finance ministry has designed the tax exactly on the lines of securities transaction tax (STT), which is more of an intelligence gathering mechanism than a revenue source. In fact, an expert committee on making Mumbai an International Financial Centre had recommended STT?s removal since it increases transaction costs, leading to loss of business to overseas markets. The PM?s advisory council feels that the tax in its present form will severely hit trading volumes in India since many genuine hedgers will be tempted to cover their positions in global comexes where liquidity is high and transaction costs are lower. read more

Technorati Tags: ctt, story, chat, click, discuss, finance, news

If delivery of silver sold/bought were to take place say in a year’s time, they would sell/buy that position in the futures market or take out a “put/”call”" option [the right to sell/buy at a certain price at that future date]. If the price were to go down they could then close the “short” position by buying the same quantity at the lower price to ‘close out’ at the same date as the ’short’ [sale]. After this the price may reverse in which case they would the buy the silver back at the lower price, profiting from the ’short’ position, leaving the ‘long’ position that they originally had, again and still able to repeat the operation for profit. But then pure speculation came in to the market, briging volatlity to the silver price [and all other items on the futures and options markets] alongside of investment positons protecting the value of the investment funds from the depreciation of money values, as we can see in the markets at the moment. The dangers we now focus on in this article are the effects of the huge investment funds being ‘parked’ in these instruments, enjoying the price rises in commodities, etc, with no intention of taking delivery or consuming the items . read more

Technorati Tags: price, , market, position, silver, gold, news