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Soybeans are the only U.S.-traded grain or oilseed in which funds’ net long has persevered since 2020, though money managers have been bullish soybean meal since late 2021. Most-active CBOT soybeans fell 3% in the week ended May 23, at one point trading at the lowest levels since last July. Money managers that week cut nearly 20,000 contracts from their CBOT soybean net long, which fell to 4,147 futures and options contracts. Managed money net position in CBOT soybean futures and optionsMost-active soybeans have shed more than 12% this year, more than in most years, though they bounced 1% over the last three sessions. Money managers extended their net short in CBOT wheat futures and options to 118,788 contracts from 112,769 a week earlier.

☆ Saudi is a BRIC in crumbling East-West money wall
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, May 29 (Reuters Breakingviews) - Middle East money is the answer to plugging the growing financial gaps created in Asia by Western investment restrictions, or at least that’s the very wishful thinking of the regions’ financiers and governments. Even if the NDB might have teamed up with Saudi regardless of sanctions on Russia, any deal will be high on symbolism. It makes sense for petrodollar countries to look East given Asia’s growing oil demand. Bankers also want Middle East companies to come and list in Hong Kong as those from elsewhere stay away and economists believe Middle East funds will step up investments into China as global funds retreat. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Why does Wall Street expect a rate hike in June?
▼ + stars: | 2023-05-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

CNN —Wall Street expects the Federal Reserve to raise interest rates in June. Not only that, it finally believes the central bank when it says it likely won’t cut rates this year. Futures traders expected a roughly 66% chance of a quarter point rate hike in June as of Friday afternoon, according to the CME FedWatch Tool. That’s a drastic about-face from even earlier this month, when Wall Street expected the central bank to slash rates multiple times this year starting as early as this summer. “If it comes in hotter than expected, it almost locks a rate hike in” for June, said Heppenstall.

☆ 401(k) Hardship Withdrawals Tick Up as Inflation Stays High
▼ + stars: | 2023-05-27 | by ( Martha C. White | ) www.nytimes.com time to read: +2 min

As much as his retirement accounts have functioned as circuit breakers to reset his debts, he’s relieved that he doesn’t have the option of withdrawing his pension contributions. Two large retirement plan administrators, Fidelity and Vanguard, have observed increases in hardship withdrawals, which may be taken only if there is “an immediate and heavy financial need,” according to the Internal Revenue Service. Fidelity found that 2.4 percent of 22 million people with retirement accounts in its system took hardship withdrawals in the final quarter of 2022, up half a percentage point from a year earlier. A similar analysis by Vanguard found that 2.8 percent of five million people with retirement accounts made a hardship withdrawal last year, up from 2.1 percent a year earlier. In the first three months of 2023, Bank of America found that the number of people taking hardship withdrawals jumped 33 percent from the same period a year earlier, with workers taking out an average of $5,100 each.

☆ Some GOP lawmakers want McCarthy to reject any debt ceiling deal that doesn't include banning student-loan forgiveness and strengthening work requirements for federal programs
▼ + stars: | 2023-05-24 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Some GOP lawmakers don't want McCarthy to budge on any of their demands in a debt ceiling deal. The US could default on its debt as soon as June 1, and the parties have yet to reach a deal. McCarthy and Biden met on Monday evening to once again attempt to reach a deal on raising the debt ceiling. And even with an economically catastrophic default looming, some GOP lawmakers don't want McCarthy to budge on Republican demands to reach a deal. Many progressive lawmakers have criticized compromising with Republicans on the debt ceiling, reinforcing Biden's repeated statements that raising the debt ceiling should be a bipartisan and clean process, without any spending cuts attached.

☆ Elon Musk's quest for an irresistible price could spell trouble for Tesla and its stock
▼ + stars: | 2023-05-21 | by ( Brian Evans | ) www.cnbc.com time to read: +11 min

Its goal has been to coax consumers to make the leap to its brand with the lower prices. Finding an 'irresistible' price Tesla's price cuts are an effort to take advantage of that growing market. "We have written extensively on the drag EVs have on margins for legacy [original equipment manufacturers] and the impact of EV price deflation. She added that the price cuts are an effort for Tesla to retain market dominance and stave off competition from big competitors like Ford. Longer term, Tesla's price fluctuations could do more harm than good if they end up turning consumers off.

☆ Eyeball to eyeball: Estonia stares down Russia
▼ + stars: | 2023-05-20 | by ( Jill Dougherty | ) edition.cnn.com time to read: +9 min

It sits high on the western bank of the Narva River, its 13th-century castle proudly flying the blue, black and white flag of Estonia. We think we know roughly what makes them tick.”Like parts of Ukraine, Estonia was illegally annexed and occupied by the Soviet Union. Estonians at the conference were adamant: Unless Russia is utterly defeated in Ukraine, there is no reason to expect Putin will change his strategic objective. Jill Dougherty/CNNSeveral Russians at the conference said they feel personally responsible for the horrors Russia is unleashing on Ukraine. What’s more, Vladimir Putin is winning support for the war from so-called “swing states” and nations in the Global South.

☆ A body odor buffet reveals which scents attract mosquitoes
▼ + stars: | 2023-05-19 | by ( Kate Golembiewski | ) edition.cnn.com time to read: +7 min

CNN —Anyone who has spent a summer evening swatting away mosquitoes, or a summer day scratching mosquito bites, can agree: Mosquitoes stink. In a scientific report published Friday, scientists helped pinpoint the different chemicals in body odor that attract these insects by building an ice-rink size testing arena and pumping in the scents of different people. Hundreds of mosquitoes in the main 20-by-20-meter facility were then treated to a buffet of the sleeping subjects’ scents. The researchers found what many who have been on a picnic would attest to: Some people attract more mosquitoes than others. (Vosshall said that even scrubbing with unscented soap doesn’t get rid of the natural scents that attract mosquitoes.)

☆ Migrant encounters down 70% since end of Title 42, US official says
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, May 19 (Reuters) - Migrant encounters at the U.S.-Mexico border have dropped 70% since COVID-era border restrictions ended last week, U.S. Homeland Security official Blas Nunez-Neto said on Friday. Speaking in a call with reporters, Nunez-Neto said the number had continued to tick down after an average 4,000 encounters a day as of May 12. "In the last 48 hours there were 3,000 encounters a day on the border, this is a more than 70% reduction," he said. Reporting by Lizbeth Diaz; Writing by Valentine Hilaire, Editing by Daina Beth SolomonOur Standards: The Thomson Reuters Trust Principles.

☆ Bath and Body Works' stock surges after it raises guidance, beats on earnings
▼ + stars: | 2023-05-18 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Bath and Body Works ' stock jumped more than 10% in premarket trading Thursday after it beat fiscal first quarter earnings expectations and raised its guidance. It expects adjusted earnings per share to be between $2.68 and $3.08 for the year. The retailer expects earnings per share of 27 to 32 cents in the next quarter, compared to an estimate of 32 cents a share. It reaffirmed its full year sales forecast of flat net sales to a mid-single digit decline. As consumers become more cautious and retail discounts and promotions tick up against a tough macroeconomic backdrop, Bath and Body Works margins dropped.

☆ Older dogs who sleep badly may have dementia, study says
▼ + stars: | 2023-05-17 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +11 min

During his snooze, the study team will analyze Woofus’ brain waves to judge the quality of his sleep. John Joyner/NC State Veterinary MedicineTraining the dogs to accept EEGTo find out whether sleep problems in dogs indicate early signs of dementia as they do in people, Olby and her team turned to a group of senior dogs enrolled in an ongoing study testing antiaging supplements. John Joyner/NC State Veterinary MedicineFor the new study measuring a dog’s brain waves during sleep, researchers used a form of electroencephalogram called polysomnography, used in sleep clinics to diagnose sleep problems in people. Jake, a 13-year-old pointer, was one of 28 dogs trained to sleep with EEG electrodes. When sleeping brain waves were compared with a dog’s cognitive testing, researchers found that dogs with greater dementia spent less time in deep and REM sleep, just as people do.

[1/2] British Pound and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The dollar index, which tracks the greenback against six main peers, was down 0.14% at 102.29, having reached 102.75 in early trading on Monday, its highest since April 10. "With all of that, do you really want to buy a lot of risky assets this year?" The weak Chinese data was also weighing on the Australian dollar which dropped as much as 0.5% to $0.6665. The dollar also gained on China's offshore yuan , rising to as much as 6.981, its highest since March 10.

☆ CEOs thought the return to office debate was over. It looks like they were wrong
▼ + stars: | 2023-05-13 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

Other companies, too, could see reverberations if they enact similar policies, especially if the mandates feel arbitrary, human resources professionals say. That's why companies that want to bring workers back to the office need to focus on reconfiguring workspaces to foster additional collaboration. If your company hasn't yet, maybe don't 'mandate'Many companies are still ironing out their return-to-office policies. JustAnswer, an online source for professional information, has seen a 49% increase in questions related to return-to-office mandates and/or policies in its Employment Law category compared with May 2022. Companies should also evaluate whether across-the-board policies make sense, or whether in-office mandates should be implemented for certain functions only, Kogut said.

☆ Sweden’s Loreen wins historic second Eurovision, after emotional show in Britain that celebrated Ukraine
▼ + stars: | 2023-05-13 | by ( Rob Picheta | ) edition.cnn.com time to read: +4 min

Liverpool, United Kingdom CNN —Sweden’s Loreen has won the Eurovision Song Contest for a second time, earning a historic triumph at an extravagant and crowd-pleasing show held in Liverpool, United Kingdom, on behalf of Ukraine. Loreen of Sweden celebrates with the trophy after winning the Grand Final of the Eurovision Song Contest in Liverpool. Ukraine entrant TVORCHI performing in the grand final for the Eurovision Song Contest final. Eurovision fans enjoy the party atmosphere as they gather in Liverpool to watch the Eurovision Song Contest final. Cameron Smith/Getty ImagesAround the host city of Liverpool, Eurovision fans without tickets rammed into venues to watch the show on big screens, many of them waving Ukrainian flags.

☆ AMERICAS Debt cap tick-tock leaves eerie calm
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +4 min

The issue dominated much of the G7 finance chiefs meeting in Japan. Dimon claimed any technical default could cause financial panic and JPMorgan had convened a 'war room' internally to deal with the issue. "It's very unfortunate, it's time-consuming, hopefully it won't happen, but it affects contracts, collateral, clearing houses, clients," Dimon said. Chinese stocks underperformed, with the G7 meeting mulling restrictions on investment to the world's second-biggest economy. Bank of England chief economist Huw Pill speaksReuters GraphicsJobless claimsReuters GraphicsReuters GraphicsBy Mike Dolan, editing by Christina Fincher, <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

☆ Twitter appeared to limit the reach of investigative news site Bellingcat days after Elon Musk suggested its Texas mall shooter investigation was a 'psyop'
▼ + stars: | 2023-05-12 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The investigative news website Bellingcat reported on the Texas mall shooter's apparent neo-Nazi beliefs. Right-wing commentators on Twitter suggested that it was fake news, and Elon Musk called it a "psyop." Days later, Bellingcat's founder said its Twitter account no longer appeared in the app's search tool. Bellingcat reported that Garcia had tattoos of a swastika and other Nazi symbols, and posted about being a white supremacist on Odnoklassniki (OK), a Russian social media site. Musk tweeted.

☆ Morning Bid: US debt drama crashes Japan's G7 party
▼ + stars: | 2023-05-11 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Kevin Buckland. But almost everyone also wants to hear from her that the United States can sort out its own debt ceiling conundrum and avoid a potentially disastrous default. The United States isn't the only concern either. Chinese inflation data showed consumer prices almost flat-lining in April, while factory gate deflation deepened. Ten-year Treasury yields continued to tick lower in Tokyo, putting the U.S. dollar under pressure against the yen.

☆ Mortgage rates tick down for the second week in a row
▼ + stars: | 2023-05-11 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Mortgage rates ticked down last week for the second week in a row, as progress on inflation is keeping rates calmer. “This week’s decrease continues a recent sideways trend in mortgage rates, which is a welcome departure from the record increases of last year,” said Sam Khater, Freddie Mac’s chief economist. Mortgage rates topped 5% for the first time since 2011 a little more than a year ago, and have remained over 5% for all but one week during the past year. But over the last month rates have averaged about 6.37% and have been going up and down, but staying under 6.5%. “This should bode well for the trajectory of mortgage rates over the long term.”The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country.

New-crop soybeans last printed a January high in 1999, one of three such instances in the last half-century. The last time new-crop corn and soybeans both made their year-of-expiration highs in January was in 1985, though on different days. In the last two decades, June and November have been the most common months for new-crop soybeans’ high, at five apiece. In a highly unusual twist, soybeans also made their yearly low in August 2013.CBOT November soybeans: month of highSOYBEANS VERSUS CORN? However, that phenomenon has not yet been seen for Brazil’s upcoming bumper corn harvest, which will be collected most heavily during June and July.

☆ Twitter to remove idle accounts, archive them
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 8 (Reuters) - Social media platform Twitter Inc will remove accounts that have been inactive for several years, CEO Elon Musk announced in a tweet on Monday, saying that the action is "important to free up abandoned handles." loadingTwitter's billionaire owner in a separate tweet said inactive accounts will be archived, Musk did not add any details on when the process will begin. It was not immediately known if or how Twitter users will be able to access archived accounts. REUTERS/Dado Ruvic/IllustrationMusk also said users on the micro-blogging platform could see a drop in follower count, as several inactive accounts might get removed. Earlier this month, Musk "threatened" to reassign National Public Radio's Twitter account to another company, after the public broadcaster stopped posting content to its 52 official Twitter feeds in protest against a Twitter label that implied government involvement in its editorial content.

☆ Thailand election: Campaign freebies may be a 'band-aid solution' with fiscal risks
▼ + stars: | 2023-05-09 | by ( Nyshka Chandran | ) www.cnbc.com time to read: +6 min

A Thai protester with a sign calling for equal workers' rights and a fair election at a Labor Day rally in Bangkok in 2023. Experts widely agree that pro-democracy groups are expected to perform strongly in light of deep-seated discontent with the current military-affiliated administration. Contenders can be divided into two categories: parties that support the pro-military establishment and a pro-democracy camp of opposition factions. Few details have been provided about funding, worrying economists who say those policies would weigh on already stretched public finances after significant fiscal support during the pandemic. Only the Move Forward party has campaigned on changing the defamation law, while Pheu Thai previously said it will consider discussing it in Parliament.

☆ Stock Market News: Dow Futures Tick Lower
▼ + stars: | 2023-05-09 | by ( ) www.wsj.com time to read: +1 min

Stock futures traded lower Tuesday as investors waited for another batch of earnings reports. Oil prices dropped after Chinese trade data disappointed, indicating the world's second largest economy is revving back up slower than expected. U.S. stock futures edge lower. Oil prices looked set for further volatility, with Brent crude falling 1% to $76.25 a barrel after jumping 2.3% in the previous session. The Hang Seng index fell 2.1% while the Shanghai Composite index fell 1.1% after data showed China’s imports slumped 7.9% in April.

☆ Twitter to remove inactive accounts
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

May 8 (Reuters) - Social media platform Twitter Inc will remove accounts that have been inactive for several years, CEO Elon Musk said in a tweet on Monday. loadingMusk added that users on the micro-blogging platform could see a drop in follower count. Earlier this month, Musk "threatened" to reassign National Public Radio's Twitter account to another company, after the public broadcaster stopped posting content to its 52 official Twitter feeds in protest against a Twitter label that implied government involvement in its editorial content. Twitter last month removed the legacy verified blue tick from the profile of thousands of people, including celebrities, journalists and prominent politicians. Musk has made account verification a part of Twitter's Blue subscription, a move he said would tackle the issue of bot accounts on the social media platform.

☆ Asia shares inch higher, U.S. inflation test looms
▼ + stars: | 2023-05-08 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

"The survey should point to further broad-based tightening in bank lending standards," said Bruce Kasman, head of economic research at JPMorgan. "Though our analysis suggests that the impact of a credit tightening against an otherwise healthy backdrop tends to be limited." S&P 500 futures and Nasdaq futures were both off 0.1%, after jumping on Friday in the wake of Apple's (AAPL.O) upbeat results. The dollar stood at 135.19 yen , with the euro at 148.93 and not far from its recent 15-year peak of 151.55. Brent was last up 3 cents at $75.33 a barrel, while U.S. crude added 5 cents to $71.39 per barrel.

☆ Stocks Tick Down as Fed Minutes Reinforce Rate Hike Expectations
▼ + stars: | 2023-05-07 | by ( Jack Pitcher | ) www.wsj.com time to read: 1 min

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