News
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Strike at New Jersey rail system idles New York-bound commuters
NJ Transit rail engineers strike after contract talks failFirst mass transit strike to hit New Jersey since 1983 Negotiations deadlock over union demands for higher wages By Karen Freifeld and Rich McKayNEW YORK, May 16 (Reuters) - New Jersey commuter rail engineers walked off the job on Friday afte...Reuters
Fri, May 16
US order allows Puerto Rico to shore up ailing power grid with fuel oil plants
May 16 (Reuters) - U.S. Energy Secretary Chris Wright issued an emergency order on Friday that will allow Puerto Rico's state-owned utility to plug chronic electricity shortfalls on the island with electricity from oil-burning power plants without running afoul of environmental laws.WHY IT MATTE...Reuters
Fri, May 16
CIF/FOB Gulf Grain-Corn barge bids mixed, soy bids steady-firmer
CHICAGO, May 16 (Reuters) - Basis bids for corn delivered by barge to U.S. Gulf Coast terminals were narrowly mixed on Friday, underpinned by steady demand from exporters and a slow pace of farmer selling into Midwest grain terminals, while soybean barge bids were steady to slightly firmer, traders ...Reuters
Fri, May 16
US Cash Crude-Grades steady as traders weigh global supplies
May 16 (Reuters) - Grades were little changed on Friday, dealers said, as investors weighed global oil supplies. WTI Midland and WTI at East Houston WTC-MEH, also known as MEH, was unchanged, while Mars eased 10 cents.Weak U.S. oil benchmark prices were set to spur drilling cuts in the United States...Reuters
Fri, May 16
US issues emergency orders to address Puerto Rico grid security issues
May 16 (Reuters) - The United States has issued emergency orders to address "critical grid security issues and improve grid resiliency" in Puerto Rico, the Energy Department said in a statement on Friday. The DOE also said it would review $365 million in funding from the Puerto Rico Energy R...Reuters
Fri, May 16
US Plains HRW Wheat-Spot basis bids flat to higher as farmer selling picks up
CHICAGO, May 16 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were steady to higher in a spot check of facilities around the southern U.S. Plains on Friday with farmer selling increasing slightly in some locations, according to dealers. CBOT July K.C. HRW wheat KWN25 futures settled do...Reuters
Fri, May 16
North Dakota oil producers plan to drop rigs due to weaker prices, state regulator says
By Arathy SomasekharHOUSTON, May 16 (Reuters) - Oil and gas operators in North Dakota have indicated they plan to drop rigs and frac crews due to weaker oil prices, a move that is likely to impact output in the third largest U.S. oil producer, the state's Department of Mineral Resources said on ...Reuters
Fri, May 16
Oil posts weekly gain but remains under supply hike pressure
Brent, WTI rise after more than 2% drop in previous sessionBrent and WTI post second straight weekly gains Focus on Iran nuclear deal IEA hikes supply growth forecast, eyes surplus this year and next By Arathy Somasekhar HOUSTON, May 16 (Reuters) - Oil settled higher on Friday, notching a second ...Reuters
Fri, May 16
Bird flu in top chicken exporter Brazil triggers trade bans
Brazil exports make up 35% of global chicken tradeOutbreak at supplier of Tyson-backed Vibra -sourcesChina, EU protocol: 60-day ban on Brazil chicken importsBy Isabel Teles, Ana Mano, Roberto Samora and Lisandra Paraguassu SAO PAULO, May 16 (Reuters) - Brazil, the world's largest chicken expo...Reuters
Fri, May 16
US natgas prices ease to 2-week low on lower demand and flows to LNG export plants
US LNG export feedgas hit record high in AprilUS gas output hit record high in AprilUS gas storage about 3% over five-year normalBy Scott DiSavino May 16 (Reuters) - U.S. natural gas futures eased about 1% to a two-week low on Friday on a smaller decline in output than previously expected, lower ...Reuters
Fri, May 16
LIVESTOCK-CME cattle futures recover on technical trading
By Heather Schlitz CHICAGO, May 16 (Reuters) - Chicago Mercantile Exchange live cattle and feeder cattle futures rebounded on Friday on short covering and technical trading after a selloff in the previous session, traders said. Cattle futures have also been underpinned by strong boxed beef prices...Reuters
Fri, May 16
GRAINS-Wheat stumbles on improved harvest prospects; soy steadies
Wheat ticks lower on good yield prospectsCorn down on ideal planting, growing conditionsSoy consolidates after previous session's tumbleBy Heather Schlitz CHICAGO, May 16 (Reuters) - Chicago wheat futures moved lower on Friday as traders weighed improved yield prospects in the U.S. Plains, th...Reuters
Fri, May 16
Canadian oil producer Strathcona plans $4.25 billion hostile bid for MEG Energy
Strathcona's bid follows recent asset divestment and acquisition movesMEG's board to review offer, urges shareholders to waitAnalysts expect competing offers for MEGBy Amanda Stephenson May 16 (Reuters) - Canadian oil and gas producer Strathcona SCR.TO plans to launch a C$5.93 billion ($4...Reuters
Fri, May 16
CBOT wheat falls on better harvest prospects
May 16 (Reuters) - Chicago Board of Trade wheat futures moved lower on Friday as traders weighed improved yield prospects in the U.S. Plains, though brisk export demand limited losses, traders said. Favorable U.S. wheat harvest prospects have outweighed bullishness from increased export demand and t...Reuters
Fri, May 16
North Dakota oil producers plan to drop rigs due to weaker prices, state regulator says
HOUSTON, May 16 (Reuters) - Oil and gas operators in North Dakota have indicated they plan to drop rigs due to weaker oil prices, Nathan Anderson, director of the state's Department of Mineral Resources said on Friday.Reuters
Fri, May 16
CBOT soybeans steady after plunging in previous session
CHICAGO, May 16 (Reuters) - Chicago Board of Trade soybean futures steadied on Friday after tumbling on Thursday as sliding soyoil futures pulled the soy complex lower.Soyoil futures continued to grind lower on Friday after plunging to their daily limit in the previous session as uncertainty over a ...Reuters
Fri, May 16
ICE canola futures end higher, led by front-month July
May 16 (Reuters) - ICE canola futures closed higher on Friday, led by the nearby July contract on tightening supplies of last year's harvest amid brisk export demand, along with bargain-buying following a two-session slide, traders said.• July canola RSN5 settled up $8.30 at $702.70 per metric t...Reuters
Fri, May 16
CBOT corn falls on good growing conditions in US Corn Belt
CHICAGO, May 16 (Reuters) - Chicago Board of Trade corn futures sank on Friday on ideal growing and planting conditions in the U.S. Midwest, traders said.Rains in the Midwest are set to expand from Sunday through Wednesday to recharge moisture supplies and aid crop growth, according to Commodity Wea...Reuters
Fri, May 16
Gold price plummets over 4% this week as risk sentiment improves
Gold prices fell by more than 1.50% on Friday and are set to end the week with losses of over 4% as an improvement in market mood prompted investors to sell the precious metal in favor of riskier assets. At the time of writing, the XAU/USD trades at $3,187 after hitting a daily high of $3,252.
Fxstreet
Fri, May 16
