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Futures File: Commodities boom in recent weeks

It has been a strong two weeks-two months for most commodity futures that are actively traded. Gold led the precious metal band higher this week, making new all-time highs and closing above $2150/ounce on Wednesday for the first time ever. The soft commodities including cocoa, cotton, sugar, coffee and OJ are not in perfect unison, but by and large are either trading near historical highs or have at least had a positive week. Stock Indices continue to thrive with the S&P setting new all-time highs above 5150 this week and the Dow Jones resting near its all-time highs around the ...

Local bank donates $7,500 to support Project BEE winter shelter

First International Bank & Trust (FIBT) donated $7,500 to Project BEE from the Minot Employee Fund, which is a fund that employees contribute to each month through voluntary payroll deductions. The donation will be directed toward Project BEE’s goal of keeping its Winter Warming Center open ...

FUTURES FILE: No fear for record fund grain shorts

The commitment of Traders report from Friday, Feb. 23, revealed that managed money was short 340,732 contracts of corn. This was a new record short position for the funds passing the old record of 322,215 contracts set back in late April of 2019. The following Monday the corn market made new lows and reversed higher falling just short of closing above the previous trading day’s highs. Monday’s move higher also consisted of a steep decline in open interest, generally meaning that more short positions were exiting than new longs were being added, i.e. short covering from the fund ...

Local bank gives back to community

The Minot Gate City Bank team collected more than 300 items and delivered them personally to Men’s Winter Refuge for the Gate City Bank multi-community food drive, which spanned across all of Gate City’s 45 locations. “When Gate City Bank told us we were going to do this food drive in ...

Minot airport celebrates terminal’s ‘2nd anniversary’

Minot International Airport is celebrating the “second anniversary” of the opening of its terminal building today. The first flight from the new terminal occurred on Feb. 29, 2016. The airport will mark the occasion with balloons and will have cookies for travelers and visitors. The ...

Futures File: Equities reflect positive Nvidia earnings report

The S&P, Dow Jones and Nasdaq indices have moved sharply higher since last November with all three markets making new all-time highs in the month of February. Equities took a step back from new highs last week and had the look of a market that might have peaked temporarily and due for a break. A highly anticipated earnings report for Nvidia that was bullish on its own merit and as compared to trade estimates turned the potential break into a blip on the radar with new all-time highs being made in the stock market shortly after the earnings release. Nvidia is a, if not the, world leader ...