TREND1
8 years ago
BY JOHN MURPHY bullish on coal.
COAL ETF IS ALSO HAVING A VERY STRONG YEAR... Speaking of rising commodity prices, I've been writing lately about commodity stock groups that have been doing very well, including metal and mining stocks tied to base metals and steel. Coal stocks are doing even better. Chart 6 shows the VanEck Vectors Coal ETF (KOL) surging almost in a straight line since January to the highest level in eighteen months. The group has doubled in price since the start of the year (as has the price of coal). That comes as a surprise to me because I thought the coal industry was dead. Apparently not. An article in Investors Business Daily this morning explained some reasons why the coal industry is starting to improve. First, a recent court decision offering some relief on the regulatory front. Second, rising natural gas prices are making coal more competitive (see gray area). And third, rising coal demand from China. A big part of that foreign demand is coal that is used to make steel. That's just another sign that commodities, and stocks tied to them, are back in favor. The new inflation trade explains why investors are selling Treasury bonds and moving money into TIPS.
temp luvs amy
11 years ago
U.S. Corn Reserves on June 1 Drop to the Lowest Since 1997
By Jeff Wilson - Jun 28, 2013 9:00 AM PT
"Corn supplies on June 1 in the U.S., the biggest producer, fell 12 percent to 2.76 billion bushels, the lowest since 1997 after the worst drought in more than 70 years cut production to a six-year low in 2012, the government said.
Inventories fell from 3.15 billion bushels (80.01 million metric tons) held in farmer and commercial grain bins a year earlier, the U.S. Department of Agriculture said today. The average estimate of 30 analysts surveyed by Bloomberg was 2.862 billion. Usage from March through May was 2.64 billion bushels compared with 2.88 billion during the same period a year earlier."
http://www.bloomberg.com/news/2013-06-28/u-s-corn-reserves-on-june-1-drop-to-the-lowest-since-1997.html
temp luvs amy
11 years ago
QL is the NYMEX contract for Central Appalachian Coal.
It doesn't seem to be a very active market. Jim Rogers used to buy commodity futures trading seats in inactive markets, knowing that sooner or later, the market would return. He was doing sugar. Probably made a fortune on them when people started turning sugar into ethanol.
Anyway, they seem to have a morning and an evening quote.
July contract is showing $61.13
It's hard to get the Chinese prices, but some recent articles indicate firming also.
I have a patent in biofuels, but nobody is paying any attention to it. They would rather spread pesticides on corn fields, and make money from suckers who think they are protecting the environment, while squandering our nations food wealth.
I wasted all my posts on other boards, so I won't be able to to any follow ups until after 9 PDT, or is there a happy hour today?