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The LA Times reports that corn supplies are tightening, with supply/demand projected to be “upside down” this year: This year’s harvest is expected to yield 11.9 billion bushels, down 155 million from last month’s projection. The decline is due to soggy weather in such corn-producing states as Illinois, where farmers have delayed planting. Total use […]
The USDA just released its latest crop progress report. Most of the grain crops look to be in pretty good shape, with the exception of soybeans, which are still behind schedule. Wheat’s been slammed the past few days after a speculative run-up, so it appears this news was priced in. Not much movement from corn […]
Global supplies of soybeans may be yet tighter than estimated by the USDA, according to a recent report by Hard Assets Investor: Recent estimates of U.S. old-crop soybeans – those still around in silos as of August 31, 2009 before the new harvest starts – depend on who you talk to. The USDA puts old-crop […]
Common wisdom holds that depressions are inherently deflationary. The United States in the 1930’s. Japan in the 1990’s and 2000’s. Combine a depression with other deflationary factors going today in the US – demographics, deleveraging, falling asset prices, even productivity – and you’ve got some serious deflationary headwinds. (As a side note – I’ve warmed […]
Corn and soybean futures each jumped roughly 5% today after the USDA released its Planting Intentions Report. Some quick highlights from the report reveal that there appears to be plenty of corn and beans coming our way, but cotton will continue to be neglected, as we had anticipated. Corn acreage is down 1% from last […]
Coffee Perking Up? Long-time readers know that we’ve been quite bullish on coffee for some time in this space. So on Friday, when I received an email from my commodity broker, Robert, about possibly initiating a coffee position, I was extremely intrigued. We wrote this article about coffee for Seeking Alpha last August. Long-term fundamentals […]
Next Stop: Gold $1,000 Gold has a date with destiny. Destiny may not be at the bar yet, but she’s now definitely circling the parking lot, looking for an open spot outside the Gold $1,000 comeback party.My comments on gold from last week’s commentary, which were verified to some extent by the continued rally this […]
Gold Breaking Out? Adam Hewison of INO.com believes the gold market is getting wound up, ready to explode higher (check out his free video here). Long time readers know that I believe gold is heading much higher, because inflation is heading much higher. Inflation is already through the roof – it’s just that we are […]
Stratfor reports that a major drought is threatening Argentina’s agricultural crop for 2009. According to the projections of the Buenos Aires Cereals Exchange published on Jan. 16, the country’s wheat yield for 2009 will be 8.7 million metric tons, down from 16.3 million in 2008 (domestic wheat consumption in 2007 was approximately 6.7 million metric […]
On Monday, the USDA released it’s agriculture supply and demand projections, which sent grains “limit down” for the day across the board, and many of the softs down sharply as well. That proved to be the worst of it – as grains slowly recovered during the week as the market digested the news, finishing the […]
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