DB Agriculture Short ETN(ADZ)- NYSEARCA
  • Aug. 10, 2012, 8:43 AM
    The USDA's highly anticipated crop report pegs the corn harvest at 10.779B bushels, 150M less then expected. The yield of 123.4 bushels/acre (vs. 127.4 est.) is the lowest since 1995. Ending stocks are pegged at a tiny 650M bushels, down from 1.18B. Traders sell the news, Sept. corn flat now after being a dime higher before the report.
    | Aug. 10, 2012, 8:43 AM | 1 Comment
  • Aug. 1, 2012, 8:18 AM
    A revision to the mean type of guy for most of his career, Jeremy Grantham continues a Malthusian turn in his old age, warning of decades of food shortages (last year's warning focused on metals, but all of a sudden the world seems oversupplied with those). Being a breadbasket, the U.S. will not be affected too badly, but poorer importers will see trouble.
    | Aug. 1, 2012, 8:18 AM | 3 Comments
  • Jul. 24, 2012, 12:29 PM
    The grain rally falls off the tracks as both corn (down $0.40) and beans (down $0.70) are locked limit down at the CBOT.  At $7.74 bushel, corn is off 5% on the session. Wheat isn't yet limit down, but is off 6.3%. Smithfield (SFD) hurriedly revisits its decision. JJG -5.5%.
    | Jul. 24, 2012, 12:29 PM | 1 Comment
  • Jul. 19, 2012, 3:28 PM

    Interesting action in the Chicago pits today, where old crop (Sept) corn soared another $0.18 to a record $8.13, but new crop (Dec, March) fell, the spread between the two shooting higher late in the session. The divergence suggests at least some optimism for a reasonable crop to come in, no? CORN -2.3% as the action in the new crop months overwhelmed the record price move.

    | Jul. 19, 2012, 3:28 PM | 5 Comments
  • Jul. 17, 2012, 4:54 PM

    "I see no basis for limiting exports," says a senior Russian official, even as an analyst says poor weather could sharply cut the wheat harvest, and in turn, overseas sales. Russia's 2010 ban on wheat exports shocked consumers, setting off a near doubling in the price.

    | Jul. 17, 2012, 4:54 PM | 2 Comments
  • Jul. 17, 2012, 8:55 AM
    Some sentiment numbers for the contrarians to chew over: 81% of clients are bearish on the euro for the next 6 months, according to JPMorgan (euro chart). Corn bulls rise to 95%, according to Jake Bernstein's Daily Sentiment Index (corn chart). Bond bulls are at 87% (bond chart). (h/t Thomas Thornton)
    | Jul. 17, 2012, 8:55 AM | 2 Comments
  • Jul. 12, 2012, 1:01 PM

    The latest U.S. Drought Monitor isn't pretty, showing substantial declines in "abnormally dry" and "drought-moderate" areas and a commensurate jump in those areas labeled "drought-severe" and "drought extreme," with "drought exceptional" creeping in as well. Corn rebounds from yesterday's sell the news action following the USDA report, +3.9%.

    | Jul. 12, 2012, 1:01 PM | 3 Comments
  • Jul. 9, 2012, 10:42 AM
    A check of commodity performance (DBC) in H1 shows agricultural commodities (DBA) the top performer, despite steep falls in coffee (JO) and cotton (BAL), as the drought sends grains (JJG) soaring. Leading on the downside are the economically sensitive energy (JJE) and industrial metals (JJM) sectors.
    | Jul. 9, 2012, 10:42 AM
  • Jul. 9, 2012, 10:34 AM
    Grains soar again as the heat wave breaks, but one forecaster says coming rain is expected to miss the areas most in need. The USDA's crop report for later today is expected to confirm deterioration of the crops. CORN +5.5%, JJG +4.8%, DBA +2.3%.
    | Jul. 9, 2012, 10:34 AM
  • Jul. 5, 2012, 5:35 PM

    Hot, dry weather isn't only plaguing midwestern farmers, as drought conditions also have hit areas in Russia and around the Black Sea, prompting reductions in grain forecasts. Yet food prices have been falling in recent months, and analysts such as Cowen's Colin Guheen expect “benign” inflation in 2012-13; he says the risk is not great for select food companies such as SFD and SWY.

    | Jul. 5, 2012, 5:35 PM | 1 Comment
  • Jul. 5, 2012, 11:19 AM
    It's always a good idea to check the grains after July 4, and they're soaring again as no relief is in sight from the heat and drought. Adding fuel is the Ukraine, which lowered its corn crop estimate by 8% due to its own weather issues. A couple of headlines for the contrarians: "Corn is shining like gold," and "New dust bowl days on the horizon." CORN +2.5%, JJG +2.7%.
    | Jul. 5, 2012, 11:19 AM | 2 Comments
  • Jun. 29, 2012, 12:49 PM
    "Sell, Mortimer sell!" It's raining on LaSalle Street. Corn gives up big early gains as rain hits the home of the CBOT - a possible break in the brutal drought covering a good portion of the Midwest. CORN +16.8% this month.
    | Jun. 29, 2012, 12:49 PM | 3 Comments
  • Jun. 29, 2012, 10:39 AM
    2012 corn planted is estimated at 96.4M acres, says the USDA, +5% Y/Y and the highest planted acreage since 1937. Soybeans are estimated at 76.1M acres, the 3rd highest on record. Though both figures are higher than trade expectations, planted acres are not the same as harvested acres, and the drought continues. Corn and beans are sharply higher in early trade.
    | Jun. 29, 2012, 10:39 AM
  • Jun. 28, 2012, 2:50 PM
    Corn takes a breather from its big June run (up 27%), but a once-in-a-generation drought continues to bear down on the Midwest. A drought map shows the brutal conditions - originally centered on Indiana - making their way into Illinois and even Iowa.
    | Jun. 28, 2012, 2:50 PM | 2 Comments
  • Jun. 12, 2012, 2:30 AM

    Food may be the next commodities boom. A growing world population and changing food preferences in emerging economies could prompt a surge in demand for agricultural products, and a recent flurry of M&A activity in the agribusiness sector suggests commodity firms are trying to position themselves ahead of the possible boom.

    | Jun. 12, 2012, 2:30 AM
  • May 29, 2012, 8:31 AM

    Agricultural commodities are mostly up this morning, with the notable exception of wheat futures, which are -1.3% as rainfall in key grain-growing regions in Russia and Australia eased concerns over a possible disruption to global supplies. Soybean futures +0.7% on adverse weather conditions in the U.S. Midwest and Great Plains-region.

    | May 29, 2012, 8:31 AM
ADZ Description
The DB Agriculture Short ETN provides monthly inverse exposure to an index that tracks the performance of futures contracts on corn, soybeans, sugar and wheat.
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