GRU: ELEMENTS MLCX Grains Index Total Return ETN Instablogs

Quote & Headlines Market Currents StockTalk

All
| Earnings
| Dividends
| M&A
| On the move

Friday, September 21, 2012, 5:41 AM Russian Economy Minister Andrei Belousov warns that the country may restrict grain exports - as it did in 2010 - if domestic prices increase too sharply. The government had previously said it wouldn't limit exports despite a drought that will cause output to fall to an estimated 72M-73M metric tons from a record 94.2M tons last year. Comment! [Global & FX, Top Stories, Commodities]
Thursday, July 12, 2012, 12:23 PM In response to the USDA's reduced corn crop forecast, Barclays is raising its price forecasts for corn, soy, wheat, and other soft commodities. That's helping some agriculture ETFs rally on a down day. CORN +2.8%. WEAT +2.1%. SOYB +0.8%. JJG +2%. GRU +2.1%. JJA +1%. Comment! [Commodities, On the Move]
Friday, April 27, 2012, 4:49 PM Corn prices jump 4.6% after the U.S. reports the sixth-largest export sale ever for the grain, which analysts believe is headed for China. The sale coincides with expectations of a large Chinese purchase, but it renews concerns that Chinese demand could stretch already-tight U.S. inventories, pushing prices above their recent trading range. Comment! [Commodities, On the Move]
Tuesday, April 10, 2012, 8:50 AM One reason for the continued bullishness on corn is a 4.3M ton reduction in world ending stocks thanks to higher-than-expected feed use demand out of China. Higher incomes = higher demand for meat. (earlier USDA report) 1 Comment [Commodities, Global & FX]
Tuesday, April 10, 2012, 8:44 AM The USDA sees corn ending stocks unchanged from last month's estimate of 801M bushels. Soybean ending stocks are reduced to 250M bushels from 275M, wheat to 793M from 825M. It's a slightly bearish number for corn as consensus was looking for lower stocks, but owners of the grain don't appear to be in a mood to sell yet. Wheat and beans are indicated to open solidly higher. 1 Comment [Commodities]
Monday, April 9, 2012, 3:51 PM The USDA is expected to report tomorrow expected corn stockpiles at summer's end will be 37% below last year, and possibly the lowest level ever relative to usage. "There will be no relief for consumers until later this year," says an ag economist, and that's only if high prices (and good weather) lead to a bumper crop. MOS -7% in the past month? What gives? 8 Comments [Commodities]
Monday, April 2, 2012, 12:10 PM Farmers are expanding plantings into previously off-limit conservation lands as high prices make crops more profitable than re-upping with the Conservation Reserve Program. The idled land will take years of investment, plowing, and fertilizer application before becoming productive enough to be profitable again. 4 Comments [U.S. Economy]
Thursday, March 8, 2012, 1:24 PM Global wheat production is expected to be 690M tons, according to the U.N's FAO, a bit less than last year, but still the 2nd highest amount on record. Good gains in India are likely to see East Asia matching last year's record level, and even drought in Argentina and Brazil is being offset by increased plantings. Comment! [Commodities]
Friday, February 17, 2012, 1:27 PM Soybean merchants sold 2.923M metric tons of product to China today, the biggest one-day amount on record. Not surprisingly, the sales occurred amidst China's putative next leader Xi Jinping's visit to Iowa. Beans continue a nice run, +1.1% today, up about 10% in the last month. Comment! [Commodities]
Friday, February 17, 2012, 7:53 AM Ukrainian grain merchants agree to export no more than another 1.7M MT of wheat this marketing year (ending June 30), bringing the total to just 4.8M tons, about half of what had been expected. Wheat +1.2% in electronic trade. 1 Comment [Commodities]
Thursday, February 9, 2012, 6:49 AM World food prices rose 1.9% in January to record their largest gain in 11 months, according to the United Nation's Food and Agriculture Organization main gauge. Prices of all the commodity groups that make up the FAO's index registered gains, with oils, cereals, and sugar making the largest jump. Comment! [Commodities]
Friday, February 3, 2012, 3:35 PM Hopes a bumper corn crop in Argentina could ease tight global supplies are dashed as rain arrives too late to help the 80% of the crop that is past the pollination stage. The USDA's slashed production estimate of 26M tonnes is looking optimistic, with some forecasters calling for just 17M. Even a crop of 20M would leave world ending stocks frightfully low. CORN -1.6% YTD. Comment! [Commodities]
Tuesday, January 24, 2012, 11:06 AM Wheat flies higher, jumping $0.18 in minutes to $6.33/bushel on worries about export curbs from Russia. Agrimoney reports it's not just official quotas, but logistical issues are slowing exports as well - shortages of railcars are making it difficult to move product to port. Comment! [Commodities, On the Move]
Friday, January 20, 2012, 11:22 AM Live cattle futures hit another all-time high today, touching $1.26/lb. Last year's drought in key areas combined with high feed prices combined to lead to shrinking herds, with the result being feedlots having fewer cows to fatten and meatpackers needing to bid up the price to get supply. 1 Comment [Commodities]
Friday, December 16, 2011, 8:27 AM Among Saxo Bank's "Outrageous Predictions for 2012": A 50% plummet in Apple's (AAPL) value as its legion of 'competitors" make inroads, a collapse in European share prices leading to a one week or longer EU bank holiday, and a sharp devaluation in the yuan. If someone runs into Byron Wien, give him a smack. 1 Comment [U.S. Economy, Global & FX, Tech]
Friday, December 9, 2011, 1:15 PM The USDA increases its projection for ending corn stocks to 848M bushels vs. expectations for a decline to 831M (from 843M previously). The reason: soaring production around the globe, now expected to hit 34.2B bushels, about 1% higher than the last estimate. Grain futures are off again. CORN -1.2%, JJG -1.6%. Comment! [Commodities]

GRU ELEMENTS MLCX Grains Index Total Return ETN

GRU

ELEMENTS MLCX Grains Index Total Return ETN