CHICAGO-- Grain futures were mixed Friday on the Chicago Board of Trade. Wheat for May delivery rose 8 cents to $6.54 a bushel; May corn was 2 cents lower at 4.89 a bushel; May oats sank 20 cents to $4.4625 a bushel; while May soybeans gained 19.75 cents to $14.5775 a bushel.» Read More
Stocks finished mixed amid volatile oil prices and a weak manufacturing report from the Fed.
Record floods have devastated Iowa farmers, The New York Times reports.
For the week ending Friday, June 13, 2008, the markets were mixed on varied economic news, renewed credit concerns from Lehman and the financial sector, and of course, oil. A surprise increase in retail sales gave hope for economic growth and a rising CPI suggested a potential rate move on the horizon that could strengthen the dollar and begin to tame inflation.
Some farmers are starting to fear disaster as global harvests look set to be average in a year when they should be excellent to offset food shortages, the NYT reports.
For the week ending Friday, June 6, 2008, the markets finished in the red as the CBOE Volatility Index (VIX) again crossed above the 20 threshold and oil surged. Stocks were impacted by continued economic concerns, renewed trouble in the financial sector, and a record spike in crude oil on Friday. Although it was a negative week for the markets, the Dow managed a 200+ point rally on Thursday for the first time since 4/18, after retailers posted better than expected same store sales.
Plus, two more international stock picks from Cramer.
Large private investors have been buying commodities in recent years, but now some are going further and buying actual farmland, says The New York Times.
For the week ending Friday, May 30, 2008, the markets finished up, with all major indices increasing ~1.3% or higher for the week. Only the Dow declined for the month, shedding 1.42%. The NASDAQ reached its third consecutive monthly gain , up 4.55% for the month. The markets were encouraged by better than expected earnings from retailers and strong results from Dell. U.S. GDP for 1Q also helped lift stocks up, as it rose 0.9% at an annual rate , better than the previous estimate. Crude Oil also retreated to lower levels.
For the week ending Friday, May 23, 2008, the U.S. Equity Markets ended the week down with all of the major indices off by more than 3% on continued concerns about high energy costs. Oil and gasoline continued to hit new record highs and the dollar declined against major currencies.
AWB, Australia's largest wheat exporter, said on Wednesday its half-year net profit rose 89 percent to $21.4 million, after good results from its Landmark rural services division.
The annual World Economic Forum took place in Sharm El Sheikh, Egypt, focusing on the investment and growth opportunities in the Middle East.
Syngenta, Monsanto and Bunge should be bought on any discount, Cramer says.
Republican presidential candidate John McCain Monday vowed to aid small farmers by targeting agricultural tariffs and subsidies doled out to agribusiness.
For the week ending Friday, May 16, 2008, the U.S. Equity Markets ended the week up with all of the major indices up ~2% or more as stocks gained from M&A news, easing inflation worries, and strong earnings results. Oil and gasoline continued to hit new record highs as the dollar declined against major currencies.
Buy stocks with long-term bullish themes, Cramer says. That way you don't have to worry about the short-term volatility in the market.
An Australian barley exporter said on Thursday it had found no evidence that a 20,000 ton shipment to Japan contained excessive pesticides, after Japan cancelled the purchase.
For the week ending Friday, May 9, 2008, the U.S. Markets were negative for the week, with the Dow falling more than 200 points on Wednesday, making it the biggest point drop since 4/11/08.
Earnings from McDermott, Wal-Mart, Deere and Hewlett-Packard should present some unique buying opportunities, Cramer says.
The Federal Reserve must be ready to raise benchmark interest rates in a timely manner given the "troublesome" inflation outlook, Kansas City Fed President Thomas Hoenig said Tuesday.
Soaring food prices may throw millions of Asians back into poverty, undo a decade of gainsand stoke civil unrest, regional leaders said as they urged a boost to agricultural production to meet rising demand