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ELEMENTS Rogers International Commodity Agriculture ETN (RJA)

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  • Apr. 18, 2011, 4:20 PM
    In a sign of the commodity frenzy, a Hong Kong limo company attempts to remake itself, bidding for 2 money-losing Australian mining operations. "The absolute peak of an industry," says a Melbourne fund manager who owns shares in one of the miners.
    | 2 Comments
  • Apr. 14, 2011, 9:22 AM
    An adviser to the Bank of Korea calls for rates to be raised to at least 4% to combat inflation (currently running near 4%) and put a check on rising household debt. What is the state of the world when even a hawkish voice isn't calling for positive real rates? Gold hovers near record levels at $1,460/oz.
    | Comment!
  • Apr. 8, 2011, 12:22 PM
    With QEII making the Fed the marginal buyer of Treasuries, its ending means Bernanke will soon have to hike interest rates in order to attract real money buyers, says Don Coxe. This will put strain on a financial system unable to handle it. Commodities will benefit, as will the loonie, "the new Swiss franc."
    | 6 Comments
  • Apr. 8, 2011, 7:42 AM
    It's another wave of green across the commodity sector, with gold hitting a new record, silver crossing $40/oz, and WTI crude threatening $112/barrel. No particular news, but the greenback sinking across the board has something to do with it. Premarket:UUP -0.5%.
    | 1 Comment
  • Apr. 7, 2011, 9:27 AM
    The China Securities Journal expects monetary policy to remain tight in the face of inflation likely to rise above 6% later this year. Current deposit rates are 3.25%, making it more sensible to spend, speculate in shares or houses, or stockpile cotton and copper rather than save. Of course, China has its ways of holding down reported inflation.
    | 1 Comment
  • Apr. 6, 2011, 7:48 AM
    Expanding its product team by 1/3 and setting up a trading office in Shanghai, Citi (C) gets set for continuation of the commodity boom. "People are looking at commodities as an asset class for diversification," says an asset manager (unsure if that quote was from yesterday or 2008).
    | Comment!
  • Apr. 6, 2011, 7:35 AM
    Rising along with the entire commodity group, gold touches another record, currently at $1,458/oz. "Unrest [in MENA] and the debt crisis in eurozone peripherals, coupled with the weak U.S. dollar and still loose monetary policy of western central banks, are fueling price speculation," writes Commerzbank.
    | Comment!
  • Apr. 4, 2011, 9:53 AM
    Josh Brown wonders if the coming IPO of commodities giant Glencore won't signal the top in the commodity boom in the same way that the IPO of Blackstone (BX) nearly marked the peak of the private equity/LBO "orgy." Glencore will sell a $10B sliver of itself around the end of April.
    | Comment!
  • Mar. 10, 2011, 10:47 AM
    The aussie falls more than 1% to below parity with the greenback as worries about the Chinese growth on which Australia depends come to the front. A sizable move, but barely a blip on the aussie's powerful run since last summer. FXA -1.0%.
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  • Mar. 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!
  • Mar. 4, 2011, 8:59 AM
    Elevated food prices may be part of the new reality, says the IMF, as it will take years for farmers to meaningfully expand production. Rising demand reflects "structural changes in the global economy that will not be reversed." Putting corn into gas tanks isn't helping matters.
    | 5 Comments
  • Mar. 2, 2011, 4:43 PM
    Calling events in MENA "the big one," Merrill's top-notch interest rate strategist Harley Bassman says, thanks to the Fed, you can put a fork in the flight to quality bid for Treasuries and the greenback. The quality assets are now in the commodity space. Bill Gross earlier.
    | Comment!
  • Feb. 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%.
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  • Feb. 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
  • Feb. 4, 2011, 9:31 AM
    Goldman Sachs takes issue with Bernanke's insistence that easy money has anything to do with higher commodity prices. "By focusing on core inflation, (they) are exporting looser monetary policy to EM (and) forced to import higher food and energy prices."
    | 7 Comments
  • Feb. 3, 2011, 12:41 PM
    The only kind of high prices most find acceptable are for stocks and real estate. Jim Rogers makes the case that high commodity prices are absolutely necessary to ensure continued supplies. "Are the politicians going to work 12 hour days in the field for nothing?"
    | 6 Comments
RJA vs. ETF Alternatives
RJA Description
This offering is designed to track the performance of the Rogers International Commodity Index – Agriculture Total Return, an index designed to provide investors with exposure to commodities in the agriculture sub-sector.
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