Investing and Trading News, with a Contrarian, Sarcastic Twist!
Ticket # Reference # Time Entered Status 7341103 09/06/07 07:29:08PM FILLED SELL 1 JULY 2008 WHEAT (ECBOT) MARKET SOLD 1 JULY 2008 WHEAT (ECBOT) AT 601 (09/06/07 07:29:08PM) 7332781 09/05/07 06:07:23PM FILLED SELL 1 JULY 2008 WHEAT (ECBOT) MARKET SOLD 1 JULY 2008 WHEAT (ECBOT) AT 615 1/4 (09/05/07 06:07:22PM)
From Agora’s 5 Min. Forecast: Gasoline supplies are at their lowest level since 1991. Measured in “days of gas available,” the Energy Department reported that, for the last week data were available, the U.S. has only a 20-day supply… the lowest since the first Iraq war. Yet despite these supply levels, gas prices remained at […]
From the WSJ:Full article (subscription required)Food Prices FaceIncreasing PressureAs Futures Hit High By TOM POLANSEK September 5, 2007; Page C8 CHICAGO — Consumers in the coming months will have to pony up a little more money at the grocery store for flour, bread and other baked goods as record wheat futures prices are driving up […]
From Bloomberg News: Farm commodities are the new starsAccording to the article: Sugar has never been this cheap relative to crude oil. Jim Rogers, my hero, does not see the credit crunch affecting the soft commodities. “There are three billion people in Asia who were not involved the last time we had a commodities rally […]
From Agora’s 5 Minute Update: Among other things, Kevin (Kerr) will be commenting in Milan on the fact that Russia — the world’s fifth largest wheat exporter — is considering banning the sale of wheat to foreign nations. Moscow officials are concerned about wheat’s skyrocketing price and its effect on the Russian consumer… especially on […]
I feel like a broken record – but this is one helluva ride! Wheat futures crossed the 800 cents mark this morning.Chart There are ongoing harvest problems contributing to the situation. Remember that wheat inventories are already at a 26-year low, so there is no slack in the system. How high can prices go? Honestly […]
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 70.00 $3,500.00 04/16/07 Long 1 DEC 08 Cotton 64.50 70.00 $2,750.00 07/27/07 Long 1 DEC 07 Coffee ‘C’ 115.30 115.70 $150.00 06/19/07 Long 1 DEC 07 Coffee ‘C’ 120.50 115.70 ($1,800.00) 03/23/07 Long 1 […]
Check out this 6-month chart:http://charts3.barchart.com/chart.asp?sym=ZWU7&data=A&jav=adv&vol=Y&divd=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix= Though unfortunately I am not basking in the full glow of this rally, because I own next year’s contracts. Why are contracts lower for next year? I believe because record high prices will prompt farmers next spring to plant more wheat – which should bring more supply on the market […]
From Agora’s 5 Minute Update“Wheat is up another 20 cents this morning… that’s a two-day record rally.” says our Maniac Trader Kevin Kerr. Wheat has been shooting up all year long, and is currently at an all-time high of $7.60 a bushel. Since the start of 2007, wheat’s up 51%, and according to Kevin, it […]
Another credit crunch victim – cotton.Cotton prices plummet in Aug Something we need to think about going forward. Are most cotton positions unwound by the hedge funds? Was today a strong buying day for the funds? I typically invest on fundamentals, but I learned the hard way a few weeks back that hedge funds can […]
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