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Media Frenzy… Discussing crop destruction and oil prices
First! Here is a new Resource Trader Rewind video. This is from January 2nd 2007. You be the judge who was right. Past performance is no guarantee of future profits….But it’s a damn good start
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The flood of 2008. Our thoughts and prayers go out to all those impacted by the terrible flooding in the Midwest. Corn, soybeans and wheat prices are all surging as 2008 is turning out to be a disaster for crops. Well it was a media frenzy this week as it seemed everyone wants to talk about the pending food crisis and of course the surge in oil prices. Below is my appearance on CNN Issue #1 on Wednesday.
I stopped by and spoke with my friend Larry Kudlow of Kudlow & CO. last Tuesday night.
I also went to the NASDAQ and talked to our neighbors to the North up at BNN and also to Barron’s and the WSJ.
Check out my interview with BNN here. If I look hot (I mean sweaty) I am. It was close to 100 degrees in NY Tuesday and under the hot lights of the tiny studio at the Nasdaq, i felt like one of those chickens you see in the grocery store under the lights in the Deli section.
http://watch.bnn.ca/tuesday/clip58926#clip58926
Then I walked down the hall and talked with my friends at Marketwatch, Barron’s and the WSJ
And lastly here is my interview with CNBC Arabiya (re-edit) Fun to watch but you will only understand it if you speak Arabic.
And this note just rolled in form my friends at www.Jurojinweekly.com
THE COMMODITY BONANZA ROLLS ON
Trading opportunities have proven plentiful and lucrative in 2008 for global traders, and none more impressive than the last 7 trading days. As flooding has saturated the Midwest recently, our long corn, long soybean, and long wheat positions spiked higher lifting our take profit orders all the way up.
A third party that brokers business for some of our Jurojin subscribers called in this morning. He reported gains for the week of $16,475 for every contract his clients traded (before commissions). We appreciate the communication and are happy to see our loyal followers getting a piece of the pie.
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$16,475 gain per contract in 8 days
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Here is a look back at some of those trades:
On June 3 we told our subscribers we liked wheat futures. Wheat had just traded off a bottom and drought in Australia was looking like it could be worse than ever. Rainfall in May was the lowest on record. This combined with excessive rains in the US to create a one two punch on supply-the result a $2,950 gain as our first profit level was hit.
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Find out what the traders
of Jurojin
are looking at next — Jurojin Weekly.
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Also on June 3, we recommended a long corn position buying strength as corn continued its trend higher on surging demand- however, supply was the catalyst. Our research suggested that crop planting was weeks behind schedule across much of the US Corn Belt and a wet spring had stunted the normal farming cycle. Though we couldn’t have forecasted the disastrous weather of last weekend, when relentless rains rolled in-the price of corn futures spiked to record highs, running through our take profit orders and landing subscribers $7,625 on the trade.
Then on June 10, in light of the horrific flooding in the Midwest, we added a grain play to the portfolio, going long soy meal. The trade rose sharply from the moment we entered as speculation on crop destruction and transportation delays began to unfold. We hit profit targets in a matter of 24 hours cashing in on another $2,900. We also got in on soybean futures, riding the rally in the agricultural complex, and pulled in another $3,000 since Tuesday.
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“A Hedge on Rocketing Food and Energy Costs”
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While consumers are being socked by higher food and energy prices, our subscribers are finding relief and income participating in record prices. (Learn More)
HOW HIGH CAN COMMODITIES GO?
The benchmark CRB commodity index is up 44% over the last twelve months. The biggest twelve month increase since the period of 1973-74. The same period that included the most severe recession since WWI and the Oil Crisis of 1973. For reference, since 1913, the CRB index has averaged a 2.88% increase on an annualized basis. Many unique factors are driving commodities, but timing the commodities trade is critical, and one that must be managed with an ear to the ground.
