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PowerShares DB Agriculture ETF (DBA)

  • Nov. 9, 2012, 7:04 AM
    Corn could move up to the unheard level of $9-$10/bushel in 2013, says Morgan Stanley's Hussein Allidina. A few weak export numbers from the U.S. has left the market complacent, he says, but supplies remain super-thin and current prices aren't high enough to ensure there will be corn around until the next crop. CORN -7.9% over the last 90 days.
    | Nov. 9, 2012, 7:04 AM | 1 Comment
  • Nov. 5, 2012, 3:08 PM
    Soon available to fans of Jim Rogers' commodity ETPs is the enhanced series -  RGRC, RGRA, RGRE, RGRP, RGRI - which aims to mitigate the yield-destroying effects of rolling over contracts in steep contango. Available in Europe for several years, they have outperformed the first-generation indices by several hundred basis points.
    | Nov. 5, 2012, 3:08 PM | Comment!
  • Oct. 25, 2012, 11:04 AM
    Commodity investors will have interest in a comparison of the Rogers Commodity ETN (RJA) vs. the much more popular DB Agriculture ETF (DBA). RJA offers diversity, investing over a far wider range of contracts than DBA, which has 72% of its assets in just its top 6 holdings. Performance: Rogers dominates by 1400 basis points over 3 years, but DBA by about 700 basis points over 5 years.
    | Oct. 25, 2012, 11:04 AM | Comment!
  • Oct. 19, 2012, 7:27 AM
    Wheat is catching a bid, the December contract +1.7% to $8.83/bushel on chatter the Ukraine is set to ban exports beginning Nov. 15. "Window dressing," says Tregg Cronin. "The market (is) already keeping them out of exports." Corn +1%, Beans +0.6%.
    | Oct. 19, 2012, 7:27 AM | Comment!
  • Oct. 11, 2012, 9:16 AM
    Grains soar as the USDA lowers its estimate of corn ending stocks to 619M bushels from 733M in September. The cut comes even as it raises its forecast of harvested acres to 360K. What happens, asks Arlan Suderman, if the USDA is forced to cut harvested acres in its next report? Yikes. Corn +4%, Beans +2.1%, Wheat +1.5%.
    | Oct. 11, 2012, 9:16 AM | 2 Comments
  • Sep. 28, 2012, 8:56 AM
    Corn soars 3% as the USDA announces stocks at just 988M bushels, the low end of the expected range. Prior to the report, corn had tumbled about $1/bushel over the past month. Wheat stocks also came in low, suggesting greater-than-expected feed use for both grains. Bean stocks beat expectations after the USDA "finds" another 38M bushels from last year's crop. Wheat +2%, Beans flat.
    | Sep. 28, 2012, 8:56 AM | 1 Comment
  • Sep. 19, 2012, 2:56 PM
    Interesting action in the commodity ETF sector shows a heavy hitter swapping out of $60M worth of the PowerShares Agriculture Fund (DBA) and into the Oil Fund (DBO) this morning. Is a big outfit booking profits on a summer rally in agriculture to pick up recently pummeled oil? It's also another example of liquid ETFs becoming a preferred playground for hedge funds and institutions.
    | Sep. 19, 2012, 2:56 PM | 1 Comment
  • Sep. 12, 2012, 9:15 AM
    More from the USDA: Soybeans gain +0.8% as the expected crop is cut 2% to 2.638B bushels vs. trade estimates of a 1% reduction. Ending stocks, however, remain at 115M bushels as the USDA cuts exports 55M bushels to 1.055B. Without the export reduction, ending stocks would have fallen to the frighteningly low level of 60M bushels. (full report, .pdf)
    | Sep. 12, 2012, 9:15 AM | 1 Comment
  • Sep. 12, 2012, 8:51 AM
    Corn tumbles 2% as the USDA lowers its expected crop yield and harvest only marginally from last month's estimates. Also lowered were expected exports - to 1.25B bushels from the already low figure of 1.3B. As a result, new crop ending stocks are now estimated at 733M bushels, up from 650M.
    | Sep. 12, 2012, 8:51 AM | 1 Comment
  • Sep. 7, 2012, 7:14 AM
    China's feed demand needs to be met by imports no matter what the price," says FCStone's Nathan Broders. With the drought no longer driving corn prices, it's now about demand, and China's appetite is going nowhere. Rabobank's Daron Hoffman believes the USDA's estimate of China's corn crop is too optimistic, and therefore its view on Chinese imports too light.
    | Sep. 7, 2012, 7:14 AM | Comment!
  • Sep. 4, 2012, 1:08 PM
    Long corn? If you bought the December crop 7 weeks ago you're even, notes an analyst. This despite falling crop ratings, the USDA cutting its harvest numbers, and numerous private tours confirming the poor state of the crop. Always take caution with a bull market that's stopped reacting to bullish news.
    | Sep. 4, 2012, 1:08 PM | 1 Comment
  • Aug. 24, 2012, 3:29 PM
    Pro Farmer estimates following this week's crop tour have corn yield at 120.25 bu/acre vs. the USDA estimate of 123.4. Beans 34.8 bu/acre vs. USDA at 36.1 ("The crop from Ohio to Nebraska needs a drink right now to realize these yield estimates"). Iowa (nation's largest producer): "Early start to the growing season turned into a mid-season nightmare for corn trying to pollinate." Market reaction will have to wait until Sunday night.
    | Aug. 24, 2012, 3:29 PM | 5 Comments
  • Aug. 21, 2012, 4:34 PM
    As panic hits the pits, Wells Fargo's Sameer Samana makes a contrarian call, arguing it's a good time to cover bullish grain bets. The weather is improving, he says, and low yields are priced in. "There seem to be fewer catalysts for price appreciation." Yet as Commerzbank notes, it's too late in the season for better weather to help the corn crop.
    | Aug. 21, 2012, 4:34 PM | 7 Comments
  • Aug. 21, 2012, 3:18 PM
    "For the first time in this rally, there is a feel of commercial panic," says a broker after a 2nd day of the Pro Farmer crop tour adds to worries over the security of physical grain supplies (day 1 report here). "You cannot load soybean futures in a ship and send to China (or) feed to chickens and hogs ... panic is in the physical ownership." Price records are falling everywhere. JJG +2.2%.
    | Aug. 21, 2012, 3:18 PM | 8 Comments
  • Aug. 20, 2012, 12:16 PM
    Grains rally as the Pro Farmer Midwest Crop Tour gets underway and early reports suggest the USDA's low estimated corn and bean yields could be optimistic. DTN's Katie Micik reports her Ohio route averaged 104.4 bu/acre (corn) vs. the USDA state estimate of 126. Pam Smith: "You know the corn is bad when you can see the scouts." CORN +1.4%, SOYB +1%.
    | Aug. 20, 2012, 12:16 PM | 5 Comments
  • Aug. 13, 2012, 4:32 PM
    China plans to release corn and rice from state reserves to cool inflation and ease import needs. The amount isn't yet known, but is estimated to be around 2M tons (the country consumes 10-15M tons monthly). The grains were sharply lower today as traders mostly sell Friday's news of a short crop. Corn -2.2%, Beans -3.1%, Wheat -3.2%.
    | Aug. 13, 2012, 4:32 PM | 1 Comment
DBA Description
The PowerShares DB Agriculture Fund is based on the Deutsche Bank Liquid Commodity Index Diversified Agriculture Excess Return™ and managed by DB Commodity Services LLC. The Index is a rules-based index composed of futures contracts on some of the most liquid and widely traded agricultural commodities. The Index is intended to reflect the performance of the agricultural sector. You cannot invest directly in the Index. Ordinary brokerage commissions apply.
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