June 2020 Editors Comments

Friday, 01 May 2020 10:45 Melissa Moore
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Special Historical Reports

MRCI publishes a new round of volumes in its series of special reports each year.

Hottest off the press:

2020 Historical Softs:  this 154-page volume features seasonal analysis for cocoa, coffee, cotton, orange juice, sugar, and rice; with seasonal patterns and weekly charts for each delivery and several spreads; presents 84 seasonal and spread strategies.

2020 Historical Soybean: this 174-page volume features seasonal analysis of each member of the soybean complex soybeans, soybean meal, soybean oil with seasonal patterns and weekly charts for each delivery and several spreads, including those for product and crush; with 128 seasonal and spread strategies.

2020 Historical Grains: this 174-page volume contains seasonal analysis of corn, oats, and wheat (CBOT, KC, MGE), with seasonal patterns and weekly charts for each delivery month and several spreads; best of all, presents 122 seasonal and spread strategies, both intra- and intermarket.

2020 Historical Live Cattle/Feeder Cattle this 148-page volume contains seasonal analysis in the cattle complex, with seasonal patterns, weekly charts, and historical daily charts for each delivery month of these two markets; includes cash data for several markets; presents 66 seasonal, LC/LC and FC/FC spreads, and FC/LC spreads.

2020 Historical Lean Hogs & Hogs/Cattle Spreads: this 126-page volume analyzes seasonal movement in lean hogs, with seasonal patterns and weekly charts for each delivery month and several spreads between them, and historical daily charts: contains 76 seasonal and spread strategies in hogs and cattle/hog spreads.

2020 Historical Lumber:
this 52-page volume explores seasonality in lumber futures, with seasonal patterns and weekly charts for each delivery month; presents 18 seasonal and spread strategies.

 

CRB & Physical Commodities

Wow - what a strange world!  You have to pay someone -anyone! $40 to take a barrel of crude oil off your hands!?!  Some traders would have been delighted to swap their barrel for a roll of toilet paper!


Yes, of course, there are billions of dollars worth of bonds issued globally with negative interest rates.  (Lend me $100 today and I'll gladly pay you $97 in 10 years!)  Will someone eventually pay you to take a gallon of gasoline, a steer, a bushel of wheat, a bale of cotton, an ounce of gold?  (Please, just take it away!)

Yes, there were technical considerations specific to futures.  Delivery dates, no storage, etc.  But, really!?

A world in which crude oil trades at -$40 but gold is approaching its all-time high.  Meat-packing plants close because of COVID-19 even as cattle marketings for March were the second highest since the series began in 1996 - and placements at the lowest on record!

A world in which some economists believe the US economy could shrink 30% (annualized) during the second quarter and unemployment approach Great Depression levels - and the stock market soars!

Meanwhile, the Bloomberg Commodity Index is lowest since mid 1975.

What can you possibly do but ...

Trade 'em,

Jerry Toepke



Last Updated on Tuesday, 04 August 2020 04:22