| |Commentary provided by Chad Burlet of Third Street AG Investments Released: August 31st, 2021 In comparison to the three highly volatile months which preceded it, the price action in August was rather pedestrian. Corn, wheat and soybean futures all had monthly trading ranges below 12% and their net price changes for the month were 0 – 4%. Risks and uncertainties abound, but for the past month they have been offsetting. Hurricane Ida struck the Mississippi River export elevators on Sunday causing damage to some and cutting power to many. There will be short term dislocations and both shippers and receivers will incur … Read more August 2021 Market Letter
| |Commentary provided by Mark Adams of Warrington Asset Management The net return of the S&P 500 Index (“S&P”) for July once again masked a series of domestic and global undercurrents that had the potential to negatively impact the world economy. In the end, none of those contributors had the ability to derail the ongoing rally in U.S. equities, other than to cause a few percentage points of temporary discomfort. The biggest decline (approximately 4%) occurred in the middle of the month as fears of the spread of the Delta variant of the coronavirus stoked concern that lockdowns and other mitigation … Read more Warrington July 2021 Market Update
| |Commentary provided by Todd Delay of Gamma Q Further consolidation occurred in July with range bound trading for corn and soybeans. Wheat was the leader with deteriorating conditions across many areas, particularly the Northern Plains supporting price. The July WASDE report reduced wheat stocks by nearly 100 million bushels and we feel further reductions need to be made. Our long bias to wheat drove returns for the month. As was touched upon in our last newsletter, the middle of the growing season in North America witnessed a continuation of two distinct weather conditions for the corn belt, East and West, … Read more Gamma Q July 2021 Market Update
| |Covid is back in the spotlight driving markets with the new variant spreading rapidly throughout the world. Those not vaccinated are falling victim to this fast spreading thread of the disease. Markets were mostly unaffected as people wait to see the impact on global markets. Responses have been quite varied by country and it appears, at least in the United States, that most businesses and schools will look to resume at full capacity in the coming weeks. U.S. Indexes remained strong in July posting yet another positive monthly return. Standouts in commodities were primarily in Coffee and Sugar as severe … Read more July 2021 Flash Report
| |Nobody likes paying for insurance. It is intangible as you pay up front for an unknown risk that may or may not materialize. Many of us feel that we overpay, until we really need it. It is perhaps not surprising then that many investors spend little effort protecting against sudden and unexpected drops in the market. After all, it is much like insurance. Intuitively you may know you need it but premiums can be tough to pay no matter what. But if we insure our vehicles, which represent a small part of our wealth, why wouldn’t we spend even more … Read more Who is Driving the Bus?
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