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Posted by admin! / Under Commodity Fetishism
On March 17th of 2010 the self regulatory organization for commodities trading and retail foreign currency transactions in the United States, National Futures Association (“NFA”), announced a major change to the way Hedge, Commodity, and Forex funds operate. The change, titled “Compliance Rule 2-46” is NFA’s latest effort to work towards detecting and eliminating Madoff Style investment frauds within the industries they regulate. In order to comply with any set of new regulatory standards one has to first understand the intentions and implications of the adjusted policy. So what then does this adjustment mean for the commodity and forex industries?...
Published on Thursday 29th of July 2010 10:33:02 PM
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Posted by admin! / Under Commodity Fetishism
In the bank's latest edition of its Monday Mining Minutes, Citi lays out a scenario which it calls the "Nightmare on Commodity Street." (via FT Energy Source) So here’s the nightmare scenario, which we hope will not happen: Thousands of very smart speculators have accumulated the biggest ever speculative physical raw material positions ever witnessed in the belief that either the dollar will collapse or an ongoing global ‘Supercycle’ will shake off the effects of the credit crunch and resume business as usual. They are funded in this venture by some of the lowest interest rates on record. What are...
Published on Thursday 29th of July 2010 10:33:02 PM
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Posted by admin! / Under Commodity Fetishism
Crops Headed For A Tough Harvest by: Jim Delaney November 03, 2009 Although it appears the prospects for the producers of porcine products have prettied, yes, lipstick included, that cannot be said for all of the ‘ole MacDonald’s in the country. The U.S. Department of Agriculture reported recently that due to a late planting season and a cooler and wetter fall than normal, only 20% of the corn crop is out of the fields vs. an average of 58% during the years of 2004-2008. “It’s getting scarier. The longer we go, the more mold keeps growing and the more ears...
Published on Thursday 29th of July 2010 10:33:02 PM
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Posted by admin! / Under Commodity Fetishism
The Agri-Food investment story has been unfolding for more than three years, and has another ten or so years to go. For that reason, investors still have plenty of time to uncover the opportunities for profits in a world soon to be far more hungry. Agri-Food cannot be produced in factories with lower marginal costs for new production. Unlike consumer electronics, marginal production will have a higher cost. For centuries mankind has sought to satisfy hunger. Only in the second half of the 19th century did food become more plentiful with improved availability. Yet even after that period food was...
Published on Thursday 29th of July 2010 10:33:02 PM
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Posted by admin! / Under Commodity Fetishism
At a time when the trade is questioning USDA’s 2009/10 prospective demand for US corn, especially in the feed use column, it is refreshing to note the continued upward demand for corn for ethanol. According to the Energy Independence and Security Act of 2007, the United States is expected to manufacture 12 billion gallons of ethanol for calendar year 2010, or 14.3% more than a year earlier requirement of 10.5 billion gallons in calendar year 2009. As you are able to view the trend increase for corn use for ethanol continues to be impressive vs feed use and equally important...
Published on Thursday 29th of July 2010 10:33:02 PM
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Posted by admin! / Under Commodity Fetishism
China confirms Rio Tinto staff arrests By Rob Taylor and Benjamin Kang Lim 1 hr 22 mins ago SYDNEY/BEIJING (Reuters) – China confirmed on Thursday the arrest of an Australian mining executive and three others on spying allegations, in a case that has rattled currency markets and raised questions about China-Australia relations. The four employees of miner Rio Tinto were arrested on charges of stealing state secrets, the official Xinhua news agency said, citing Shanghai state security authorities. "The case was being investigated according to law," Xinhua said. It gave no further details. Reports of the detentions had already emerged...
Published on Thursday 29th of July 2010 10:33:02 PM
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Posted by admin! / Under Commodity Fetishism
Rio Tinto executives arrested in China Anne Barrowclough in Sydney Rio Tinto's iron ore sales team has been arrested in Shanghai, threatening a diplomatic rift between Australia and China. Officers from China's Public Security Bureau are reported to have raided the Anglo-Australian mining group's Shanghai offices and removed computers used by each of the four executives, who have been detained since Sunday. The Australian Government is today seeking urgent consular access to Stern Hu, an Australian passport holder among the arrested men. The other three men are Chinese passport holders. The company and Australian diplomats have been given no reason...
Published on Thursday 29th of July 2010 10:33:02 PM
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Posted by admin! / Under Commodity Fetishism
In 2007, a standoff unfolded between China and several American companies, including W.R. Grace, a major supplier of oil refining products. China was threatening to withhold supplies that keep refiners in business.
Published on Thursday 29th of July 2010 10:33:02 PM
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Posted by admin! / Under Commodity Fetishism
Russian boom ends as resource wealth vanishes Economy, stocks and currencies tumble, threatening Putin's political legacy By Polya Lesova, MarketWatch Last update: 6:42 p.m. EST Feb. 20, 2009 NEW YORK (MarketWatch) -- The reversal of Russia's fortunes is nothing short of a Chekhov drama. A seven-year economic boom fueled by cheap credit and soaring commodity prices has come to an abrupt end, plunging the country into the worst financial crisis since its 1998 debt default. Russia's economy is expected to contract by at least 2% in 2009 after growing at an average rate of 7% in recent years. Stocks have...
Published on Thursday 29th of July 2010 10:33:02 PM
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Posted by admin! / Under Commodity Fetishism
Recovery Delayed Until the Looting Stops By John Helmer in Moscow In theory, Russia's economic performance is correlated with global supply and demand for raw materials and commodities, and thus with the rate of global economic growth, especially China. In the Russian market, 80% of earnings come from commodity stocks. Before the collapse, the enormous gains in market capitalization of Russian producers and exporters of gas, oil, nickel, copper, aluminium, iron-ore, coal, steel, potash, nitrogen fertilizers, and precious metals showed how dependent Russian asset value was on the belief that global demand was in an unstoppable super-cycle, sustained by China....
Published on Thursday 29th of July 2010 10:33:02 PM
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