News You Can Use for Monday -- Gold, Agriculture, and More

COMMODITIES

Bank Commodity Derivatives Rise to $9 Trillion, 1.5% of Total Outstanding Commodities derivatives held by banks expanded 27 percent last year to $9 trillion as declining raw- material supplies and lower interest rates buoyed investor demand, according to International Financial Services London.

Institutions Money Drives up Commodities

In the last five years, investment in index funds tied to commodities has grown from $13 billion to $260 billion, and the price of the 25 commodities that compose those indices have jumped 183 percent, according to congressional testimony from Michael Masters, managing member of the Virgin Islands-based hedge fund Masters Capital Management.

Rio Tinto says demand will surge through 2022

Rio Tinto and Joy Global both gave bullish prospects for the mining industry, saying they stand to benefit from ravenous demand from China, India and elsewhere.

Rio Tinto, Big Coal Won't Spend Billions to End Climate-Changing Pollution Rio Tinto Group and U.S. utilities are urging the government to spend $20 billion on a technology they say has the best chance for eliminating pollution linked to global warming.

India Rules Out Higher Oil Subsidies, Signaling Gasoline Prices May Rise India's Prime Minister Manmohan Singh said subsidies can't be allowed to rise any further, indicating his government may increase fuel prices capped since February.

Sinopec to halt oil products exports
"Sinopec will raise production, halt exports and adjust product structure to ensure domestic supply, especially for the reconstruction after the earthquake, the summer harvest and the Olympic Games," said Sinopec President Wang Tianpu.

Australian quarterly gold output plunges to lowest level in 19 years
At 53 tonnes, Australia's first-quarter gold production showed a 16% drop on the previous quarter's figure, and was 12% lower year-on-year.

AGRICULTURE

Soybeans Fall as Argentine Farmers to Decide on Tax Protests; Corn Slides Soybean futures fell in Chicago as Argentine farmers are poised to decide whether to extend more than two months of protests against higher agricultural export taxes. Corn fell and wheat extended gains.

Corn, Soybeans May Rise as Rains Threaten to Harm U.S. Crops, Delay Sowing Corn and soybeans may rise on speculation rains this week will flood Midwest fields, delaying seeding of the two biggest U.S. crops or harming young plants.

ECONOMIES AND CURRENCIES

Russian 2008 Inflation May Accelerate to 14%, Threatening Growth, IMF Says Russian inflation may accelerate to 14 percent this year and the risk of the economy overheating is mounting, an International Monetary Fund official said.

Paulson Says Financial-Market Turmoil Will Last `Months,' Supports Dollar U.S. Treasury Secretary Henry Paulson said it will take ``months'' before financial-market turmoil ends and that he ``very strongly'' supports a strong dollar.

CHINA

Brilliance China Gains Most in Eight Months on Introduction of New Model Brilliance China Automotive Holdings Ltd., the local partner of Bayerische Motoren Werke AG, rose the most in eight months in Hong Kong trading on expectations a new model would boost earnings.

XX Note -- subscribers to my Asia report from last year will remember Brilliance Austomotive as one of the picks.

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