Folks, some followers requested that I take a look at the Emerging Markets Sovereign Debt ETF (NYSEARCA:PCY). Honestly, I hadn’t looked at this particular ETF before. But my initial thoughts are: wow, that was a perfect sell pattern setup. As I’ve said before, some patterns work, while some don’t –…
October was a mildly interesting month, as both bonds and stocks sold off moderately. Usually these asset classes move in opposite directions. The S&P 500 (INDEXSP:.INX) “total” return for October was -1.82%. Wall Street showed its hand, as stocks sold off on news of the FBI investigation of Clinton’s emails,…
The October official manufacturing PMI for China rose +0.8pts to 51.2, a 2 year high. The Markit/Caxin manufacturing PMI also rose to 51.2. The key driver of the gains in the official China PMI were a lift in (domestic) new orders, input prices, and production. This was a classic case…
WHAT WLL IT TAKE FOR $5.00 CORN AGAIN? This seems to be the question I’m getting most often these days with spot CME corn futures seemingly stuck in a $3.00 to $4.50 per bushel trading range for the better of the past 29 months. In fact the last time the…
There were very few surprises in the USDA’s October WASDE report, which was released on Wednesday (10/12). As far as notable supply-side changes to the 2016/17 U.S. corn balance sheet, the USDA did lower the national corn yield 1 bushel per acre versus September to 173.4 bpa. This was essentially…
September was a relatively quiet month across global financial markets, as investors returned from summer vacation to mixed economic news. The economy is likely recovering enough to eventually warrant an interest rate hike. The worry is what happens to credit and equity markets as they adjust to higher interest rates,…
The most notable feature in the corn market mid-week came from the energy complex and the EIA’s weekly Petroleum Status report. The EIA’s figures showed U.S. gasoline demand falling to just 8,880 thousand barrels per day for the week ending August 23rd, 2016. This was down 770,000 barrels from the…
I was six years old when the Apollo 13 mission had a major malfunction that resulted in aborting their mission to land on the moon. From that moment on, the entire focus became getting those brave astronauts back to earth safely. It took the entire brain trust of NASA to…
August was an uneventful month, as many on Wall Street typically take their summer holiday during this period. Most stock market indexes were little-changed. Stocks & Bonds Global stock markets surprised many market pundits by shrugging off Brexit and roaring back in July. European equities outperformed, after underperforming in June. …
In Monday’s Weekly Crop Progress report the USDA lowered its good-to-excellent rating in corn 1% to 74%, equal to 2014’s rating as of September 7th. All of the focus in corn remains on yield. Therefore Monday’s corn ratings decline, albeit it just 1%, did not go unnoticed by the market….