| Cost of corn pinches plants
High corn prices have created a cash-flow problem for a South Dakota ethanol plant.
Poet Biorefining in Chancellor has borrowed $6.3 million from its partner, Poet, in response to an increase in the price of corn futures that shows little sign of abating.
On Jan. 14, the Chancellor ethanol company and Poet agreed to a short-term loan to be repaid Feb. 13, including interest at an annual rate of 9.25 percent. According to a filing with the Securities and Exchange Commission, the money was needed to cover margin calls triggered by a price increase in the corn futures market at the Chicago Board of Trade. "We did not have the necessary funds from operations to cover the margin calls," General Manager Rick Serie wrote in the filing.
The plant, which produced about 51 million gallons of ethanol last year, was securing grain with plans to distill 100 million gallons this year.
Astro-stock predictors become financial stars
With doomsayers predicting an immediate recession and an endless hike in gas prices, Farmington Hills astrologer and market timer Ray Merriman says bunk. "The recession everybody is drumming about is a big fake-out. It could happen in one to three years, but not sooner," said Merriman, who consults the stars and planets for Fortune 500 clients who invest $250 to $2,500 for his opinions. His latest book of forecasts sold out its 2,000-copy press run in two months. His Web site is www.mmacycles.com. .
Democrats make populist appeals before contests
As a African American I would hope that African Americans if looking for a African American candidate would look deeper into their roots of the past; those whose ancestry were slaves. As for African American support for the Socailist Clinton that is wrong also; we need to stop looking to the Democratic Party for a handout. We can make it by faith Hilliary is not the answer - she is not our savior and Bill is not the first African American President and Obama doesn´t represent African Americans everywhere. He is a smooth talking promise making empty man that will be defeated. America is ready for a change but we don´t need the either of these Democrats one a self agrandizing carpet bagger and the other a wet behind the ear slogan maker. Please America wake up before it´s too late. .
Time: 15:29 NYT
US stock markets shut trading into the rest of the week, but currency markets remain open, punishing the dollar further. The euro also strengthened on dismal data reported on US industrial production and consumer sentiment.
9/17-18. Euro joins the European currencies and the yen in giving the dollar a harsh drubbing (EUR/USD gained 2.5% to a 6-month high at 92.33 cents) after US stocks reopened following the September 11 attacks. The Dow plunged by 684 points or 7%, its worst decline on record, while NASDAQ tumbled by 6.8% or 115 points to 1579 as markets sold off in reaction to the prior weeks' terrorist attacks. Concerted interest rate cuts by the Fed, ECB and BoE had no noticeable impact on US equities or the currency.
22. 9/20-21
The single currency loses a cent and a half after Germany's August Ifo survey hits a 5-year low of 89.5 from the previous 89.8.
Cop Search for Jersey Man Who Disappeared in Colorado Blizzard After ...
Colorado police are searching for a 23-year-old New Jersey man who vanished during a blizzard after downing at least 20 drinks at a bar in Breckenridge, a small ski resort town. Alphonse Michael Barbiere, a Wall Street commodities trader, stumbled out of the bar at 1:30 a.m. Friday with a friend, according to The Denver Post. When the friend lit a cigarette, Barbiere started walking down the street — in the opposite direction of the condo his family and friends were renting, the newspaper reported. "He didn't say anything to anybody about where he was going," Breckenridge Assistant Police Chief Greg Morrison told the newspaper. Police want to question three unidentified friends who were snapped in photos with Barbiere several hours before he disappeared, The Denver Post reported.
RiskMetrics Group Celebrates IPO On NYSE
We are pleased to welcome RiskMetrics Group to our rapidly growing family of NYSE-listed companies," said NYSE Euronext President and Co-Chief Operating Officer Catherine R. Kinney. “We look forward to providing RiskMetrics with the superior market quality, liquidity and brand visibility associated with listing on NYSE Euronext markets." “RiskMetrics Group is proud to be among many industry leaders listed on the New York Stock Exchange," said David Obstler, CFO of RiskMetrics Group. “This is a major milestone for our company that could not have been achieved without the loyal support of our clients and the significant contributions of our almost 1,000 global employees." RiskMetrics Group (NYSE: RMG) RiskMetrics Group is a leading provider of risk management and corporate governance products and services to participants in the global financial markets.
the has-been
Republicans may be under fire for anti-gay hypocrisy, but their anti-government hypocrisy is still going strong. Idahoans will happily accept the loss of Craig's clout if it means the loss of Craig's cloud. That way, residents could get back to celebrating Thursday night's season-opening victory by 24th-ranked Boise State, which has the longest winning streak in the country. After this week, folks are even looking forward to Saturday's mismatch between top-ranked Southern California and the University of Idaho, whose coach wrote "113" on the chalkboard to motivate a team ranked 113th out of 121 Division 1-A football schools. Most Idahoans feel the way the Vandal defense will feel when the Trojans are through Saturday—not sure what all that was about, but glad to have it over. At the very end of their interview, Sgt.
Traders Bracing For Slump Drive Up Platinum, Wheat, Coffee And Cocoa
Platinum and spring wheat hit record highs Thursday and arabica coffee and cocoa set new trading peaks as well, as investors in commodities pursued markets deemed less vulnerable to the slowing U.S. economy. Copper, an economically sensitive base metal, overcame jitters over U.S. growth by reacting to Wednesday's cut in interest rates. Traders said copper was also inspired by Thursday's rebound in Wall Street stocks and lingering production issues in China. But broad commodity futures indexes closed mixed, with the Reuters-Jefferies CRB and Dow Jones-AIG up and the S&P GSCI down. U.S. crude oil also fell, closing 58 cents lower at $91.75 a barrel on fears of slowing growth in the world's largest economy and the leading energy-consuming nation. Investors in energy were also sidelined ahead of an OPEC meeting on production quotas set for Friday.
|
