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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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"As Associate Company Counsel, my focus is to assist the business to grow and get deals and transactions done lawfully in a manner that is consistent with our regulators' expectations. The end result is good for our customers, good for counterparties with whom we deal, and good for the company."

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Cocoa futures projected to drop due to rain

Mar 15, 2012 10:48 AM

Heavy rains in West Africa's dry cocoa plantations are prompting analysts to reduce their projections for shortages of the soft commodity, according to Bloomberg.

The region provides the world with roughly 69 percent of its cocoa beans as Ivory Coast and Ghana are the world's top two cocoa-producing nations. The nourishment for the plantations is projected to halt the soft commodity's biggest rally in a year. Prior to Thursday, cocoa futures had gained 6.8 percent on ICE Futures U.S.

"Recent rains in West Africa have been plentiful, particularly in Ghana, and this is positive for the development of the mid-crop and the new crop," Eric Sivry, head of Marex Spectron's agriculture options brokerage, told Bloomberg. "Many analysts have been caught by surprise."

At 10:18 a.m. on Thursday, cocoa futures fell 4.97 percent, a $115 loss to $2,199 per metric ton.

Cameroon, the globe's fifth-largest supplier of cocoa, is projected to produce 20 percent less cocoa this year due to infestations of insects and black pod fungal disease, according to the International Cocoa Association.

Reuters reports the soft commodity was seeing light business early in the trading session on Thursday.

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