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The RBS Rogers Enhanced Agriculture Exchange Traded Notes (“RBS ETNs”) track the RICI Enhanced SM Agriculture Total Return Index (the “Index”) which provides exposure to 20 commodities in the futures market, plus the rate of interest that could be earned on cash collateral invested in Treasury Bills. The Index, designed in cooperation with prominent stock market and commodities investor Jim Rogers and RBS, attempts to track price changes for agriculture commodities.
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Saturday, Oct 58:25 AMGovernment shutdown could send ag markets into turmoil
Saturday, Oct 58:25 AM| 9 Comments
- The U.S. government shutdown and the resulting lack of official statistics are prompting traders to shun agricultural commodities due to concerns about the vacuum of information and fears of a data dump that will hit markets hard when the shutdown ends.
- Likely to fall victim to the shutdown is the USDA's monthly Wasde crop production report, set for Oct. 11, which affects prices of grains and other agricultural commodities around the world.
- Analysts say concerns over a delay could lead to additional short-covering as speculative shorts look to take risk off the table; once the USDA resumes operations, a torrent of backlogged data could trigger a highly volatile reaction.
- ETFs: MOO, CROP, PAGG, VEGI, JJG, GRU, CORN, WEAT, SOYB, COW, UBC, JJA, RJA, AGF, DBA, FUD, UAG, DAG, AGA, ADZ, JJS, TAGS, USAG, RGRA.
Monday, Sep 303:49 PMCorn slides to 3-year low after bearish stocks data
Monday, Sep 303:49 PM| 2 Comments
- Corn (CORN -2.4%) and Soybeans (SOYB -3.2%) tumble - with corn hitting a 3-year low - after the USDA reports estimated corn stocks of 824M bushels, off 17% from a year ago, but far higher than trade estimates for 687M. Bean stocks are estimated at 141M bushels, also off 17% from a year ago, but 13% above estimates. Stocks still remain low, but these are old crop numbers, and forecasters are looking forward to a big crop this fall.
- Wheat (WEAT -2.7%) stocks of 1.85B bushels were slightly below expectations.
- Lower-than-expected feed usage and export demand were behind the big corn number - high prices had pig farmers substituting corn for wheat.
- Relevant grain ETFs: JJA, RJA, AGF, DBA, FUD, UAG, DAG, AGA, ADZ, JJS, TAGS, USAG, RGRA, JJG, GRU.
Monday, Aug 1212:26 PMGrains spike on new USDA estimates
Monday, Aug 1212:26 PM| 4 Comments
- The grain pits party after the USDA lowers its corn production estimate to 13.76B bushels - still a whopper of a number, but off from 13.95B in July. Ending stocks are cut to 1.837B bushels.
- Bean production is cut to 3.255B bushels from 3.42B as acres planted are cut 500K and yield is lowered to 1.9 bushels/acre.
- No change is made to the wheat production estimate, but 25M bushels of extra exports cuts ending stocks by the same amount.
- December corn erases a sizable early loss, now up $0.15 to $4.69/bushel. CORN +1.5%.
- SOYB +3.4%, WEAT +0.3%.
- Grain ETFs: JJG +1.8%, GRU +2.5%.
- Other related: JJA, RJA, AGF, DBA, FUD, UAG, DAG, AGA, ADZ, JJS, TAGS, USAG, RGRA.
Wednesday, May 1511:38 AMAgricultural commodity prices (DBA) could fall a big 13% over the next year, says Goldman, predicting bumper crops across the globe. With weak demand and a record South American harvest (CORN, SOYB, WEAT) already in the books, it would require a major weather shock in the U.S. to keep prices near current levels. Earlier: Deere tumbles as poor weather slows U.S. planting progress. |Wednesday, May 1511:38 AM| Comment!
Thursday, Apr 253:19 PMThe flow of key farm products (DBA) to the world from North and South America, highlighted by congestion at Brazilian ports and limited selling of crops by U.S. farmers, will keep global grain supplies tight despite expectations for big harvests later this year, Bunge (BG +6.5%) says after its Q1 report showed a 16% jump in agribusiness sales to $10.77B. |Thursday, Apr 253:19 PM| Comment!
Monday, Apr 810:22 AMSpeculators exited long commodity positions last week at the fastest pace since 2008, according to the CFTC. Of particular note is the quickest decline in agricultural holdings (DBA) ever, led by an exiting of corn (CORN) positions as the price dropped about $1/bushel. |Monday, Apr 810:22 AM| Comment!
Thursday, Feb 1410:28 AMAgricultural commodities continue an underreported slide, with J.C. Parets noting corn is down for the 10th consecutive session. Earlier this week, the USDA estimated farm income in 2013 will be the highest in 40 years thanks to high prices. A weak harvest has little impact thanks to the use of crop-insurance programs. DBA -5.2%, CORN -4.4% YTD. |Thursday, Feb 1410:28 AM| 2 Comments
Friday, Jan 1112:13 PMThe inaugural midday release of the USDA's January crop report doesn't disappoint, with corn reversing early losses and now sharply green as Dec. 1 stocks come in at 8.03B bushels vs. expectations of 8.21B. Ending stocks are estimated at a slim 602M bushels vs. expectations of 667M. Beans are down after production came in higher than expected. Wheat jumps on lower-than-anticipated planted acres. |Friday, Jan 1112:13 PM| Comment!
Thursday, Jan 39:19 AMThe grains continue a tough post-U.S. harvest run with news today of China cancelling another order - this one 11.6M bushels of American beans. In the meantime, better weather is improving prospects for South America's crops. Beans -1.1%, Corn -0.7%, Wheat -0.2%. |Thursday, Jan 39:19 AM| Comment!
Monday, Nov 52012, 3:08 PMSoon available to fans of Jim Rogers' commodity ETPs is the enhanced series - RGRC, RGRA, RGRE, RGRP, RGRI - which aims to mitigate the yield-destroying effects of rolling over contracts in steep contango. Available in Europe for several years, they have outperformed the first-generation indices by several hundred basis points. |Monday, Nov 52012, 3:08 PM| Comment!
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Garfield23:: last time an "Unknown" destination was over 100k metric tons was July 2003, and a 60% rally occurred after (from Sept-Nov 2003 a 33% rally)
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Garfield23:: that's okay, I am staying long, as Thursday will be a wake-up for the markets IMHO, (re: the decline, traders throwing a hissy fit, NBD)
Garfield23:: have you seen the latest weather forecast for Thurs/Friday night? brrrrrr...here comes frosty. -but I think the low yields are the big story
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Perkins Cove:: Ah yes, soybeans. Watch the movie Touchback, with Kurt Russell. You'll learn more about soybeans (and true love) than you ever knew.