| American Stock Exchange Lists GreenHaven Continuous Commodity Index ...
NEW YORK, Jan. 24 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) announced today that it has launched trading in the GreenHaven Continuous Commodity Index Fund (AMEX: GCC) , managed by GreenHaven Commodity Services, LLC. GCC aims to track the performance of the Continuous Commodity Total Return Index, an equal weighted basket of 17 commodities (corn, wheat, soybeans, live cattle, lean hogs, gold, platinum, silver, copper, cocoa, coffee, sugar, cotton, orange juice, crude oil, heating oil and natural gas). Reuters America, LLC owns and calculates the Index. "The American Stock Exchange is pleased to welcome and support GreenHaven as they enter the ETF marketplace," said Scott Ebner, Senior Vice President of the Amex's ETF marketplace. "GCC reflects a growing investor interest in commodity linked products." Ashmead Pringle, President of GreenHaven Commodity Services, LLC, stated, "Increasingly, many investors have concluded that commodities are an asset class that should be represented in a balanced portfolio.
Grain shoots higher on USDA reports
Washington, D.C. Commodity prices shot higher today after the government reported that demand for grain is staying strong and last years corn harvest was smaller than previously thought.
The U.S. Agriculture Departments final crop report for 2007 put corn production at 13.1 billion bushels, down 1 percent from the November estimate.
Meanwhile, the government raised its estimate of how much of the corn crop will be used for livestock feed by 300 million bushels. That was the big surprise, the shocker, Don Roose, president of U.S. Commodities Inc.
The report suggests livestock farms are not reducing production despite the soaring cost of feed, he said. .
Chamber’s decision to nix ag committee stirs tension
Continued fallout from the elimination of the Bowling Green Area Chamber of Commerce's agri-business committee is expected to be discussed today at a closed-door meeting.The chamber will address restructuring its committees at its regular board meeting today, as some members have asked for refunds and tensions have arisen in response to the potential elimination of the committee.With traditional farm commodities - corn, soybeans, hay, livestock, dairy and others - generating more than $72 million in yearly sales from Warren County farmers, many in the agriculture community are questioning why the chamber sent a memo dated Nov. 28 that said the agri-business committee would "no longer be under the umbrellas of the committee of the Bowling Green Area Chamber of Commerce.""The Chamber Board of Directors realizes the economic impact of agri-business in our region, yet as an organization has found it challenging to provide the resources and partnership support to adequately carry this message due to agri-business representing less than two percent of the Chamber partnership," according to the memo, obtained by the Daily News.After seeing that memo, Hartland Equipment owner Sam Lawson said he made a hard decision to cancel his chamber membership."I asked them for my check back," Lawson said.
Commodity ETF Jumps As Wheat Hits Record
The market may have lost its appetite for stocks, but it's hungry for commodities, especially wheat. Wheat soared to a record Friday as the Agriculture Department forecast that supplies will drop 40% from last year to a 60-year low in May. It already has more than doubled in the past year. Corn, soybeans, gold and platinum have also soared to new records. "We're in an inflationary cycle that's heating up, so things such as commodities are becoming more valuable than paper assets," said Adam Harter, director of operations at Financial Enhancement Group, with $200 million in assets. "People in developing economies are seeing incomes rise and are able to buy more and that's putting a pressure on the demand side of the equation." Trading Futures In lock step, PowerShares DB Commodity Index (DBC) broke out to a new high Friday.
Derek Frey's Outlook
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Daily Blabber Celebrity Gossip Blog from iVillage Entertainment
That was the question surrounding this twosome all year. In January at the Golden Globes, the Lost costars dismissed talk of a relationship. By September, they were openly canoodling. Hawaii seems like the perfect backdrop for young love -- and they're certainly taking advantage of it. Eva Longoria &...: Desperate Housewives star Eva Longoria found her celeb dating groove this year. The divorcee was linked to JC Chasez, Sean Faris and Tony Parker. The thing with Tony Parker stuck and she got serious with him by summer. They just spent Christmas together in Texas, where they cussed out a cop and Eva, who is Mexican, reportedly made a derogatory comment about the cop being Mexican. Oh, those crazy kids. Nicole Kidman & Keith Urban: Tom Cruise, Q-Tip, Lenny Kravitz...
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