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iPath DJ-UBS Grains Total Return Sub-Index ETN (JJG)

  • Jan. 20, 2011, 8:10 AM
    The ECB warns again, noting recent purchasing managers reports show higher input prices are being passed along to consumers. It forecasts inflation will worsen in the coming months before moderating towards the end of the year. The euro jumps 100 pips before falling back slightly to $1.3490.
  • Jan. 18, 2011, 10:16 AM
    Macroman notes that Shanghai has fallen below its 200 day moving average and considers the worrying implications for commodities, whose fortunes have tracked Chinese shares. A divergence in performance, starting in mid-November, has widened significantly.
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  • Jan. 13, 2011, 4:10 PM
    An agriculture company 34% owned by an affiliate of George Soros files for a $400M IPO. Adecoagro (symbol to be: AGRO), one of the largest owners of farmland in South America, plans to use the proceeds to build a sugar and ethanol mill, as well as for acquisitions.
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  • Jan. 13, 2011, 11:27 AM
    Policymakers across Asia seem in near panic over spiraling food inflation, but is it really so troublesome? High food prices reflect greater affluence, encourage investments in crop productivity, and transfer wealth from the cities to rural areas. Think NYC to Hoopeston, IL. Can that be so bad?
  • Jan. 12, 2011, 10:05 AM
    Grain and bean markets are locked limit up ahead of floor trading after the USDA lowers its estimate for corn, soybean, and wheat production and ending stocks. Fertilizer stocks like the news as well. MOS +2.04%, POT +1.39%, AGU +1.54%.
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  • Jan. 12, 2011, 8:20 AM
    At 8:30, we get the USDA's roundup of farming commodity estimates and forecasts for this year and final figures for 2010. The report will be closely read for signs of runaway price inflation following a banner 2010 in which corn futures rose 52%, wheat 47%, and soybeans 32%.
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  • Jan. 11, 2011, 5:42 PM
    Grain and bean traders brace for the "Superbowl" of reports from the USDA tomorrow. Bullish numbers will be needed to keep feeding powerful rallies that started last summer. Current forecasts for ending stocks are so tight that a slight deviation in either direction could cause a significant price reaction.
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  • Jan. 11, 2011, 3:47 PM
    With the price of nearly every commodity on the planet putting in astonishing runs and sitting at or near multi-year or all-time highs, Deloitte Touche Tohmatsu brandishes extrapolation skills, arguing food will become much more expensive over the next decade.
  • Jan. 11, 2011, 7:32 AM
    Australian shares hang in there, but the aussie sinks as worsening flooding in Queensland forces an evacuation of Brisbane. Hardest hit are insurers exposed to the flood damage, but diversified miners like (BHP) and (RIO) are seeing no erosion to their value. Australia -0.08%. Aussie -1.0%.
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  • Jan. 7, 2011, 5:30 PM
    The risk of owning Argentinian bonds drops the most of any nation this week as beans in the teens boosts the economy of the world's 3rd largest soybean producer. “Soy prices improve domestic liquidity, improve taxes ... so it overall improves the ability to pay," says an analyst with RBS.
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  • Jan. 5, 2011, 7:18 AM
    The bounce back in food prices from the GFC is complete as the FAO's index of commodities surpasses the all-time high it made in June 2008. Sugar and grains are the main culprits, but another key staple, rice, remains well below record levels.
  • Jan. 3, 2011, 7:47 AM
    The nearby wheat contract rises 1% and empty coal vessels sit and wait for deliveries in Queensland's harbors as flooding "of biblical proportions" continues. Half of Australia's wheat crop is downgraded to feed and what's left cannot be delivered over submerged rails and roads.
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  • Dec. 30, 2010, 12:43 PM
    Wheat falls to new lows for the day as Argentina raises its harvest estimate by more than 10%. Strong world demand and tight supplies exacerbated by the destruction of much of Australia's crop has led wheat prices to advance about 60% since the summer. March 2011 Wheat -2.7%.
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  • Dec. 30, 2010, 8:55 AM
    A flood of investor capital into commodity markets too small to handle it has keyed surging prices. In an article that could have been written in Spring 2008, a former NYMEX local sees a continuation, noting "these are buyers that are completely price-insensitive -- and never sell." Never?
  • Dec. 30, 2010, 7:36 AM
    Anglo American (AAUKY.PK), Australia's 2nd largest coal exporter, joins the list of miners declaring force majeure due to flooding in Queensland. Additionally, port operators Dalrymple Bay and Gladstone along with QR National rails are forced to either slow or shut operations.
  • Dec. 28, 2010, 4:38 PM
    The CEO of Bunge (BG), seeing tight grain conditions next year, is unconvinced high prices are here to stay. Corn at $6 and beans at $14 will have Brazilian farmers planting more. “It doesn’t worry me,” says Alberto Weisser, “I think there is enough land available. There is enough water available.”
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JJG Description
The Dow Jones-UBS Grains Subindex Total ReturnService Mark is a sub-index of the Dow Jones-UBS Commodity Index Total ReturnService Mark and reflects the returns that are potentially available through an unleveraged investment in the futures contracts on physical commodities comprising the Index plus the rate of interest that could be earned on cash collateral invested in specified Treasury Bills. The Index is currently composed of three futures contracts on grains traded on U.S. exchanges.
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