From the front page article in this weekend’s Wall Street Journal: “Dan Basse, president of AgResource Co., a Chicago research firm, estimates that as many as 55 million to 70 million acres of additional arable land may need to come on line globally over the next three to four years just to sustain current agricultural […]
Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss Market Value 01/22/07 Long 1 DEC 08 Cotton 63.00 70.65 $3,825.00 04/16/07 Long 1 DEC 08 Cotton 64.50 70.65 $3,075.00 07/27/07 Long 1 DEC 07 Coffee ‘C’ 115.30 116.55 $468.75 06/19/07 Long 1 DEC 07 Coffee ‘C’ 120.50 116.55 ($1,481.25) 12/05/06 Long 1 […]
From Agora Financial’s 5 Minute Update: Wheat surged to $6.64 a bushel yesterday, a record high price. And the U.S. Department of Agriculture reported the highest U.S. wheat exporting week since 1996. “No shock here,” our Maniac Trader Kevin Kerr commented this morning. “Demand in China is skyrocketing, ethanol is pulling more potential ‘food’ out […]
Just couldn’t help myself – bought another coffee contract this morning. Placed the order yesterday with a limit of 116.00 BUY 1 DECEMBER 2007 COFFEE ‘C’ 116.00 LIMIT BOUGHT 1 DECEMBER 2007 COFFEE ‘C’ AT 115.30 (07/27/07 05:59:56AM) In celebration, I just picked up a cup of Organic French Roast and am sipping it now!
“Led by soaring grain prices, The Economist‘s dollar food-index has risen to its highest level for more than a decade. Wheat prices are at an 11-year high, and stocks are forecast to fall to a 30-year low by June 2008, despite a recovery in Australia’s harvest.” Read the full article: http://www.economist.com/markets/indicators/displaystory.cfm?story_id=9412071&CFID=8960712&CFTOKEN=66230367 “The coffee market is […]
Good old cotton’s been making a small run up over the last couple of months or so. Here’s the latest news today:http://www.fxstreet.com/futures/news/article.aspx?StoryId=d2121659-b681-441d-bf3e-936c1a2b681f Looks like the funds are starting to get into this trade. I’m bullish on cotton because it is one of the only grains that has not been part of this massive run up. […]
And stronger than ever! It’s been awhile since the last post – I freaked out when my account started to tank soon after I started this blog. But now I’m back testing the financial gods again. Won’t dwell on the past too much, but the account had dipped all the way down to $7K and […]
Well after topping $.18/pound, the Oct ’06 sugar contract started dipping a bit. Then last Thursday, I was watching CNBC and they popped the one year chart of sugar up on the screen. I thought “Oh God, if they’re showing the chart of sugar up on CNBC, it is getting close to selling time.” After […]
Here’s the portfolio as of the end of the day today. Couple of things worth noting today: 1. Bush is supposed to talk about ethanol in the State of the Union:http://www.cnn.com/2006/POLITICS/01/29/bush.sotu.ap/index.html The main way that the US produces ethanol is from corn. The corn usage for ethanol has tripled over the last 7 years and […]
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