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iPath Pure Beta Grains ETN (WEET)

- NYSEARCA
  • Wed, Aug. 12, 3:14 PM
    • U.S. corn production is estimated at 13.7B bushels on yields of 168.8 bushels per acre, says the USDA. Trade forecasts were for 13.3M bushels and 164.4 bushels/acre as analysts had priced in a wet early growing season. The USDA last month forecast 13.5B bushels and 166.8 bushels/acre.
    • Soybean production is forecast to be 3.9B bushels on yields of 46.9 bushels per acre versus trade estimates of 3.7B bushels on yields of 44.6 bushels/acre.
    • Stockpile estimates were also above forecast - 1.7B bushels at August's end for corn versus consensus of 1.4B, and 470M bushels for beans versus consensus of 305M.
    • Wheat is also lower after the USDA estimated world inventories at the end of the 2015-16 season at 221.5M metric tons vs. trade at 218.6M.
    • Near-month corn is lower by 4.7%, beans by 6%, and wheat by 2.6%.
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    | Wed, Aug. 12, 3:14 PM | 3 Comments
  • Tue, Jun. 30, 12:16 PM
    • Corn acreage of 88.897M acres, according to the USDA, is lower than trade forecasts for 89.3M acres. June 1 stocks of 4.447M bushels vs. 4.555M forecast.
    • Soybean stocks of 625M bushels vs. 670M expected. Acres of 85.139M vs. 85.171 expected.
    • Wheat stocks of 753M bushels vs. 718M expected. Acres of 56.079M vs. 55.867M expected.
    • Corn and beans are each up about 2% from flat before the report posted. Wheat is up marginally.
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    | Tue, Jun. 30, 12:16 PM | 1 Comment
  • Nov. 10, 2014, 12:14 PM
    • It's lower yields at work, with the USDA now expecting 173.4 bushels per acre vs. 174.2 last month and the trade guess of 175.2.
    • The bean crop is now estimated at 3.958B bushels vs. 3.927B last month and trade's expectation of 3.967B.
    • Wheat ending stocks of 644M bushels compares to last month's 654M.
    • Corn fired, but has quickly fallen back - now up marginally on the session after initially jumping around 2%. In the green earlier, beans are now lower by 1%, and wheat also erases early gains, now flat on the session.
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    | Nov. 10, 2014, 12:14 PM | Comment!
  • Oct. 10, 2014, 12:20 PM
    • The USDA estimate for this season's corn yield of 174.2 bushels per acre is up from 171.7 bushels one month ago, and compares to trade estimates of 174.7. Production of 14.475B bushels compares to trade estimates of 14.506B bushels. Ending stocks of 2.081B bushels vs. estimate of 2.13B.
    • Soybean yields of 47.1 bushels is up from 46.6 last month, and vs. estimates of 47.6. The crop size of 3.927B bushels stands against estimates of 3.976B, and last month's estimate of 3.913B. Ending stocks of 450M bushels vs. estimate of 472M.
    • Wheat ending stocks of 654M bushels drops from 698M last month and compares to estimates of 704M.
    • Bottom line: Already big corn and bean crops got bigger.
    • Corn and beans are off a few cents, while the price of wheat jumps nearly a dime per bushel on the low stocks estimate.
    • ETFs: CORN, JJG, WEAT, SOYB, GRU, WEET
    | Oct. 10, 2014, 12:20 PM | 2 Comments
  • Mar. 10, 2014, 12:12 PM
    • World corn stocks of 158.47MMT is higher than last month's estimate of 157.3 and trade expectations of 156.27. Domestic ending stocks, however, are now placed at 1.456B bushels vs. 1.481 last month and trade expectations of 1.488.
    • Domestic bean ending stocks of 145M bushels is down from 150 last month, but ahead of trade expectations for 141. World stocks of 70.64MMT vs. 73.01 previously and forecasts for 71.46.
    • Domestic wheat ending stocks of 558M bushels compares to 558M last month and 570M forecast.
    • Markets are reading the news as bearish, with corn off a nickel, beans down $0.25, and wheat off $0.02
    • CORN -0.25%, SOYB -0.75%, WEAT -1.2%
    • Related ETFs: JJG, GRU, WEET
    | Mar. 10, 2014, 12:12 PM | Comment!
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WEET Description
The iPath® Pure Beta Grains ETN is linked to the Barclays Capital Commodity Index Grains & Oilseeds Pure Beta TR (the "Index"). The Index is a sub-index of the Barclays Capital Commodity Index Pure Beta TR and reflects the returns that are potentially available through an unleveraged investment in six futures contracts on grain and oilseed commodities traded on U.S. exchanges.
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