Tue, May 24, 5:04 AM
- The strongest El Nino in nearly 20 years has ended, according to the Australian Bureau of Meteorology, as sea surface temperatures across the Pacific Ocean cool to their neutral levels.
- The dreaded El Nino led to damaged crop production (such as wheat, palm oil and rice) due to scorching weather across Asia and east Africa, and heavy rains and floods in South America.
- ETFs: DBA, CORN, JO, JJG, WEAT, RJA, SOYB, SGG, COW, NIB, CAFE, BAL, CHOC, DAG, CANE, JJA, GRU, AGA, SGAR, USAG, AGF, WEET, FUD, TAGS, CTNN, UAG, DIRT, UBC, ADZ, JJS, LSTK, GRWN
Wed, Feb. 24, 4:56 AM
- Sugar futures on the Intercontinental Exchange staged their biggest daily gain in nearly 23 years, soaring 8.9% to settle at $0.139 a pound, after forecasts suggested weather-disrupted supply may fall short of demand.
- This year's supply loss will be the first deficit in five years as harvests are hit by the El Nino weather phenomenon and heavy rain in Brazil, the world's largest producer.
- ETFs: SGG, CANE, SGAR
Apr. 29, 2014, 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
Mar. 13, 2013, 7:35 AM
The TBTF banks lie in bed at night dreaming they had the kind of government backstop afforded to the sugar industry. The USDA may buy 400K tons of sugar to prop up sugar processors which borrowed $862M under a government price-support scheme. Roll that one around for a few seconds. The higher prices pay for processors' vacation pads, but hit companies like HSY and NSRGY.PK, along with their customers.| Mar. 13, 2013, 7:35 AM | 2 Comments
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