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Full stories: Theglobeandmail.com Bloomberg Summary: Potash CEO William Doyle says grain farmers need to harvest record crops every year to meet demand and avoid famine Potash execs are so confident in long term demand that they considered taking the company private in mid-January “We need a record crop in 2008 just to stay even with […]
Legendary oil investor T. Boone Pickens told CNBC this morning that he is short oil and natural gas. He believes that oil will have a short term pullback. I was surprised by this – Pickens has been (correctly) calling higher oil prices for quite some time. I’m glad I’m not long oil or nat gas […]
Full article Summary: The current commodity cycle is unique because energy and food have “converged” in price – they are now interchangeable due to biofuels Without government subsidies, sugar cane would be the only economically viable biofuel (@ $35/barrel equivalent) Land devoted to biofuels projected to continue its climb
Open Positions Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss 02/14/08 Long 1 MAY 08 Cocoa 2535 2519 ($160.00) 02/14/08 Long 2 MAY 08 Cotton 71.26 70.18 ($1,080.00) 02/14/08 Long 1 MAY 08 Coffee ‘C’ 154.25 152.20 ($768.75) 02/14/08 Long 1 MAY 08 Coffee ‘C’ 155.10 152.20 ($1,087.50) 02/14/08 Long 2 […]
Short 2 minute clip of Jim Rogers on Yahoo Finance. In short, he’s: Wary of precious metals right now (may consolidate if US drops into recession) Buying agriculture “as he speaks”
By JULIE JARGON February 15, 2008; Page A1 ALBION, Neb. — The U.S. economy may be teetering on the brink of recession. But there’s a bountiful harvest down on the farm. Grain prices are surging to historic levels. Spring wheat, a variety often used in bread, hit a record $18.53 per bushel yesterday. Corn is […]
Another good one from Agora – the case that peak oil was reached in 2005.
Open Positions Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss 01/30/08 Long 1 MAR 08 Cocoa 2284 2379 $950.00 12/20/07 Long 1 MAR 08 Cotton 66.45 68.41 $980.00 01/09/08 Long 1 MAR 08 Cotton 69.61 68.41 ($600.00) 01/22/08 Long 1 MAR 08 Japanese Yen 0.9460 0.9343 ($1,462.50) 02/04/08 Long 1 MAR […]
As stocks continue to flounder, commodities continue to soar across the board. Platinum has set 7 record highs in the last 8 trading days. All wheat contracts also set all-time highs. No doubt this is a flat out bull market. But all bull markets have set backs, so we need to keep that in mind. […]
Great essay (as always) by Bill Bonner in today’s Daily Reckoning. Very interesting that corn stocks are still near a 33-year low, even with the “high” corn prices over the last year. Even the bumper harvest of last year couldn’t low down the rising prices – too much of it is going into gas tanks.
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