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    • WATCH: Kaibosh Food Rescue out to reduce food poverty June 8, 2018
      Kaibosh Food Rescue helps reduce food poverty aby saving 15 tonnes of food every month. COURTNEY DAY reports. The post WATCH: Kaibosh Food Rescue out to reduce food poverty appeared first on NewsWire.co.nz.
      Courtney Day
    • WATCH: Wellington’s Last Post ceremony coming to an end June 8, 2018
      As the 100 year anniversary of Armistice Day approaches, Last Post Ceremony draws to an end. BONNIE MOSEN reports. The post WATCH: Wellington’s Last Post ceremony coming to an end appeared first on NewsWire.co.nz.
      Bonnie Mosen
    • WATCH: Kaibosh puts the kibosh on food poverty in Wellington June 8, 2018
      Some of the $872m in food Kiwis discard annually is find its way to good homes. BONNIE MOSEN reports The post WATCH: Kaibosh puts the kibosh on food poverty in Wellington appeared first on NewsWire.co.nz.
      Bonnie Mosen
    • WATCH: Daily Last Post ends in November June 8, 2018
      The daily Last Post ceremonies at Pukeahu end in November this year as the 100 year anniversary of WWI's end approaches. NICHOLAS HENDRICKS reports. The post WATCH: Daily Last Post ends in November appeared first on NewsWire.co.nz.
      Nicholas Hendricks
    • Challenging the status quo in New Zealand media June 3, 2018
      Diverse voices beyond the straight white narrative can be found at Wellington Access Radio 106.1. ANDREW BEVIN reports The post Challenging the status quo in New Zealand media appeared first on NewsWire.co.nz.
      Andrew Bevin
    • Life after pro skateboarding includes helping next generation June 3, 2018
      Wellington IT worker and skateboarding advocate Chris Wood lived every skating boy’s dream. He talks to ANDREW BEVIN The post Life after pro skateboarding includes helping next generation appeared first on NewsWire.co.nz.
      Andrew Bevin
    • Podcast a way to talk about mental health for talented performers June 3, 2018
      Alcohol and tears were the catalyst for podcast How'd It Go. Actor Max Apse has been on stage and screen and Robbie Nicholl has been the White Man Behind A Desk, but ABIGAIL SINCLAIR PARKER finds their podcast has presented different challenges. The post Podcast a way to talk about mental health for talented performers appeared first on NewsWire.co.nz. […]
      Abigail Sinclair-Parker
    • Little-known textile designs of artist Avis Higgs brought to life May 26, 2018
      The Wellington artist may have passed away but her daughter is ensuring her work lives on The post Little-known textile designs of artist Avis Higgs brought to life appeared first on NewsWire.co.nz.
      Julia Steel
    • Women fly and run Wairarapa Balloon Festival May 25, 2018
      The sky’s no limit for women who have chased their dreams. SALLY HEMING talk to them about their stories. The post Women fly and run Wairarapa Balloon Festival appeared first on NewsWire.co.nz.
      Sally Heming
    • Wainuiomata Hill’s Shared Path project worth wait for mayor May 25, 2018
      Lower Hutt Mayor excited about safety for walkers and cyclists up Wainui Hill. COURTNEY DAY reports. The post Wainuiomata Hill’s Shared Path project worth wait for mayor appeared first on NewsWire.co.nz.
      Courtney Day
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Speculators accounted for 71% of oil contracts of the NYMEX

Reuters have obtained statistics from the Commodity Futures Trading Commission (CFTC) which shows that speculators accounted for 71% of the benchmark oil contracts on the New York Mercantile Exchange (NYMEX), the world’s largest for energy trading, as of April 2008.

The story also looks at what impact the proposed regulation by CFTC chairman Gary Gensler could have on big players like Goldman Sachs, which has made a killing from speculating on oil trading:

Fewer than one out of every 10 barrels of oil traded on U.S. futures exchanges gets delivered to consumers, an equation that may change under sweeping new restrictions being weighed by the government’s top commodities regulator.

With plans to curb speculation in energy trading, U.S. Commodity Futures Trading Commission chairman Gary Gensler could push banks and funds, which now buy and sell the lion’s share of oil and gas contracts, to seek opportunities elsewhere, industry watchers say. READ HERE

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Senate probe finds excessive speculation in wheat markets

A story by Reuters about a U.S. Senate report finding excessive speculation in wheat markets:

Commodity index traders had snapped up more than 200,000 wheat contracts by mid-2008 that helped fuel last year’s record jump in prices, which ended up raising costs for both industry and consumers, according to a  year-long bipartisan Senate probe.

The report found large wheat purchases on the Chicago Mercantile Exchange pushed up futures prices, disrupted convergence between futures and cash prices and increased costs for farmers, the grain industry and consumers. READ HERE.

And for those diehard fans of Commodify Me! who are also interested to see what impact speculation and the ensuing speculative bubble had on oil prices in 2008, then please read the transcript of a 60 Minutes story on CBS :  Did Speculation Fuel Oil Price Swings?