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Tue, Apr. 29, 7:15 PM
- U.S. government forecasters predict a more than 65% chance for an El Niño weather phenomenon by the end of the year, a development that threatens to drive up prices for food and other staples.
- El Niño has a reputation for triggering sharp run-ups for prices in markets as diverse as nickel, coffee and soybeans, and commodities investors, traders and analysts are bracing for impact at a time when global supplies of many raw materials already are stretched.
- Global food prices - which at the start of 2014 were expected to be largely flat this year - could easily climb 15% to record highs in as a little as three months after an El Niño occurs, says World Bank economist James Baffes.
- But Société Générale analysts say it is miners, not farmers, who have the most to worry about; since 1991, nickel prices rose the most (13.9%) during El Niño years among commodities the bank tracks.
- ETFs: DBA, CORN, DBC, JO, JJC, RJA, JJG, WEAT, SOYB, DJP, SGG, DBB, COW, NIB, GSG, RJI, CAFE, BAL, GCC, DAG, USCI, JJA, GRU, CHOC, CANE, JJN, RGRA, AGA, JJT, RGRC, CPER, AGF, GSP, BOM, RJZ, JJU, GSC, LSC, FUD, DJCI, USAG, BOS, SGAR, JJM, DEE, BDD, UCI, LD, WEET, UAG, DYY, DIRT, BCM, CMD, DDP, NINI, JJS, CTNN, TAGS, UBC, CUPM, FOIL, UCD, ADZ, RGRI, LEDD, UBM, CMDT, BDG, SBV, USMI, DPU, LSTK, CSCB, GRWN, HEVY, CSCR
Dec. 27, 2013, 4:29 AM
- The WSJ shines a light onto "shadow warehouses," a hidden system of facilities that store tens of millions of tons of aluminum, copper, nickel and zinc across the globe for banks, hedge funds and commodity merchants.
- The warehouses operate outside the London Metal Exchange's system, are unregulated, and don't provide details of their holdings. As a result, it's unclear how much metal is held in the shadow system. This lack of visibility could cause major price swings.
- The WSJ article follows allegations that warehousing companies have artificially boosted the price of metals, particularly aluminum.
- Companies that operate metals warehouses include Goldman Sachs (GS), Glencore Xstrata (GLCNF) and JPMorgan (JPM), although the latter is looking to sell its commodities unit.
- Relevant tickers include VALE, AA, AWC, KALU, MNSF, CENX, NOR, BHP, RIO, ACH.
- ETFs: DBC, JJC, DBB, DJP, GSG, RJI, GCC, USCI, CFD, JJN, JJT, BOM, RGRC, CPER, CTF, RJZ, GSC, LSC, GSP, JJU, DEE, BDD, BOS, JJM, DYY, DDP, DJCI, LD, CMD, BCM, CUPM, UCI, RGRI, UCD, UBM, FOIL, BDG, LEDD, CMDT, SBV, USMI, DPU, NINI, FTGC, CSCB, CSCR, HEVY
Jun. 4, 2013, 9:41 AMThe FDA grants a priority review designation to Bristol-Myers Squibb (BMY) and AstraZeneca (AZN) for their metreleptin treatment for disorders associated with lipodystrophy (LD), a very rare disease in which sufferers experience a loss of fat tissue in important areas, especially under the skin. The fat instead accumulates where it shouldn't, such as in muscles and the liver, and can cause severe insulin resistance, diabetes and high levels of triglycerides. (PR) | Comment!
Jun. 3, 2013, 8:05 AMBeijing returns to metals. Maybe taking advantage of tumbling prices, or maybe showing confidence about the future, China's State Reserves Bureau has purchased base metals on the international market for the first time since the global financial crisis. The agency bought about 30K tons of nickel (JJN) - about one-sixth of LME stockpiles - according to sources, and has been making inquiries about copper (JJC). Other ETFs of note: LD, JJT. | 3 Comments
Jan. 1, 2013, 12:40 PM
Nov. 16, 2012, 9:32 AMIndustrial metals prices are set to rally into the middle of 2013, says Westpac's Justin Smirk, who has the hottest hand in forecasting of late. He's keeping it simple: Easy money in the U.S. and Europe will combine with a rebounding Chinese economy. Copper, zinc, nickel, and aluminum are all headed higher. | Comment!
Aug. 27, 2012, 7:21 AMA lot has been written about growing inventories of seemingly everything in China, but stocks of lead there have fallen to the lowest level in over 2 years thanks to demand from battery makers. Nevertheless, the price of lead is off 21% Y/Y, roughly in line with declines for the other base metals. | 2 Comments
Feb. 1, 2012, 3:42 PMIndustrial metals enjoyed January's risk rally, with the basket of futures trading on the LME rising 10.9%, led by tin (JJT), up 26.5%. Looking to sink below $3/lb. 3-4 months ago, copper (JJC) has rallied all the way back to $3.84, and resurfaced bullish talk that there's just not enough of the metal being mined. | 1 Comment
Sep. 23, 2011, 1:12 PM
Feb. 22, 2011, 11:21 AM
Feb. 3, 2011, 8:22 AM
Jan. 27, 2011, 10:09 AMUnconcerned that China and India are tightening monetary policy, Jim Rogers sees commodities as a win/win investment. “If the world economy gets better, commodities are going to make a fortune. If the world economy does not get better, commodities are the place to be because they are going to print more money." | 4 Comments
Jan. 20, 2011, 12:38 PMThe FTSE 100 -1.82% is the developed world's worst performing market today as worries about a crackdown on growth in China sink commodity prices. With its heavy weighting of resource stocks, the FTSE is "just an option on global growth." (RIO) -3.43%. (BHP) -3.02%. (TUWOY.PK) -4.01%. (XSRAY.PK) -5.45%. | Comment!
Jan. 18, 2011, 10:16 AM
Jan. 6, 2011, 10:14 AM
Dec. 29, 2010, 2:46 PM
LD vs. ETF Alternatives
The Dow Jones-UBS Lead Subindex Total ReturnSM is a sub-index of the Dow Jones-UBS Commodity Index Total ReturnSM and is intended to reflect the returns that are potentially available through an unleveraged investment in the futures contracts on physical commodities comprising the index as well as the rate of interest that could be earned on cash collateral invested in specified Treasury Bills. The Dow Jones-UBS Lead Subindex Total ReturnSM is a single-commodity sub-index currently consisting of one futures contract on the commodity of lead, which is included in the Dow Jones-UBS Commodity Index Total ReturnSM.
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