After years of dealing with low interest rates, new regulations and rebuilding client confidence, futures commission merchants are ready to break out and start doing what they do best: Executing trades and hopefully making money.
Corn futures plunged to a three- year low after the U.S. Department of Agriculture boosted its inventory estimate by 25%. Soybeans dropped the most in six months as supplies topped analyst estimates by 11%.
Treasuries and U.S. stocks rose as a report showing a plunge in home sales eased concern the Federal Reserve will cut stimulus efforts next month. Gold and oil rallied while the dollar weakened. Emerging-market equities gained for the first time in seven days.
U.S. farmers are poised to reap their biggest-ever corn crop, expanding global stockpiles to the most in 13 years and spurring hedge funds and other speculators to make record bets that prices will keep slumping.