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Tuesday, March 15, 2011, 3:23 PM Grains continue to get beat up, all closing either limit down, or close to it. Events in Japan will be blamed, but prices actually peaked 2-6 weeks ago, and have been falling steadily since. JJG -6.0%, CORN -5.3%, JJA -5.9%. 1 Comment [Global & FX]
Friday, March 11, 2011, 3:43 PM The earthquake may have been the trigger for selling in the grain pits today, but it's hard to see how it will affect demand. Wheat, beans, and rice have been in sharp declines for more than a month, corn since early March. JJG -4.0% YTD, CORN +3.8% YTD. 1 Comment [Global & FX]
Thursday, March 10, 2011, 9:15 AM The FDIC doesn't see a credit problem in agriculture right now, although the steep rise in farmland prices in recent years could lead to one in the future, says FDIC chair Sheila Bair at a risk-management symposium with the National Agricultural Credit Committee. Comment!
Monday, March 7, 2011, 9:45 AM Despite near record prices, Russian farmers reduce planted wheat acreage as a ban on exports forces sales internally at a 22% discount - more fuel to those who believe confused government policy, as much as surging demand, causes higher prices. JJG +0.1%, JJA +0.6%. 8 Comments [Global & FX]
Monday, March 7, 2011, 8:14 AM A well-timed series of rain and snow storms as well as irrigation efforts across northern China may have saved much of the wheat crop. Only weeks ago, the the driest winter in 200 years prompted fears of China stepping into the world wheat market as a large buyer. 2 Comments [Global & FX]
Tuesday, March 1, 2011, 11:06 AM Australia's agriculture bureau sounds a contrary signal, saying food costs could tumble in 2011 as high prices draw out more supply. Adverse weather and government policies are the issue, not the ability to produce more food says the bureau's chief analyst. JJA -0.4%. JJG -0.3%. SGG -2.4%. 6 Comments [Global & FX]
Wednesday, February 23, 2011, 2:40 PM Pounded yesterday and down further this morning, the grains stage a reversal to close green for the day. Might they lead equities? JJG +2.4%. CORN +3.3%. GRU +2.1%. Comment! [Global & FX]
Wednesday, February 23, 2011, 9:14 AM Wheat took a beating yesterday and stands 17% below its peak of 2 weeks ago, but China may lend support to the market. China is a minor player in the global wheat trade, but the drought threatens to change that, at least for this year. Premarket: JJG -0.6%. Comment! [Global & FX]
Tuesday, February 22, 2011, 11:21 AM Gold and oil catch bids, but traders are using the events in Libya as an excuse to sell commodity markets, many of which have had remarkable runs. The grains and cotton are particularly hard hit. CORN -3.6%. JJG -3.0%. BAL -4.1%. JJC -1.8%. Comment! [Global & FX]
Thursday, February 17, 2011, 12:47 PM Commodity bull Josh Brown thinks the agriculture story is getting somewhat crowded. He notes a recent paean to the group, well done, but the kind of story that gets written close to tops. JJA +1.7%. CORN +2.0%. BAL +6.2%. JO +1.8%. SGG -1.1%. JJG +1.3%. 1 Comment [Global & FX]
Wednesday, February 16, 2011, 10:24 AM The value of irrigated farmland in the Kansas City Fed's district jumps nearly 15% in Q4 from a year earlier. One red flag: cash rental rates rise just 6%, making much of the 15% pop a speculative bet, and maybe a reason banks are tightening lending standards. Full report here. Comment! [Global & FX]
Monday, February 14, 2011, 2:29 PM Carl Weinberg postulates Chinese hoarding of grain far beyond its needs is a major factor driving higher food prices. Weinberg believes China is concerned about the possibility of famine or social unrest, or perhaps they figure nearly $1T in Treasuries is enough. 3 Comments [Global & FX]
Thursday, February 10, 2011, 11:12 AM As corn crosses $7/bushel, higher feed costs are likely to show up in the price of chicken within weeks followed by packaged goods shortly after, says a UI economist. A year or more can go by before pork and beef prices are affected. TSN -1.0%. CORN +0.9%. CAG -0.7%. 2 Comments [Global & FX]
Thursday, February 10, 2011, 9:22 AM "Whenever you get the market as tight as we are now, hoarding becomes widespread," says an FAO economist as countries across the globe increase grain imports and/or place limits on exports. A chance that stockpiles can be replenished in 2011 is called into question by China's drought. 4 Comments [Global & FX]
Wednesday, February 9, 2011, 3:55 PM China issues a 10 point plan of subsidies and other farm support as it deals with soaring food prices, drought in its major wheat-growing region, and a general setback to plans to become self-sufficient in grains. A net exporter of corn just a few years ago, China imported 1.57M tons in 2010. JJG +1.9%. CORN +2.9%. Comment! [Global & FX]
Wednesday, February 9, 2011, 1:09 PM Those hoping for a slowdown or reversal in food inflation won't find support from Syngenta's (SYT +4.4%) latest report. The crop protection and seed company lifts its outlook, seeing nothing to stop growing demand for grain as the world increases meat consumption. 3 Comments [Global & FX]

JJA iPath DJ-UBS Agriculture Total Return Sub-Index ETN

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iPath DJ-UBS Agriculture Total Return Sub-Index ETN