The Commodities Game

Wednesday, 9 Jan 2008 | 6:46 PM ET

You might say wheat was 2007’s commodity of the year. What’s poised to move pop, going forward?

Joe Terranova, Director of Trading at MBF Clearing Corp joins the panel for this conversation. Following is a summary of his main points.

Terranova thinks '07s laggards will become '08s leaders: Consequently, he’s watching natural gas and sugar.

Natural gas

I see natural gas continuing to move higher despite bearish fundamentals in the overall market. It’s a clean and efficient energy source.

However, I don’t recommend playing the energy ETF, he adds. Either buy futures contracts or if you want to play equities take a look at Williams , El Paso or San Juan Basin Royalty .

My favorite nat gas play is Apache adds Guy Adami.

Me too, Pete Najarian chimes.


Chinese imports of sugar over the next decade could soar. In 9 days of activity sugar has jumped significantly, says Terranova.

Unfortunately, there is no ETF or equity that’s a pure sugar play. The only way to trade sugar is to be long sugar futures contracts.

For an in-depth look at the charts used in Joe Terranova’s technical analysis please watch the video.

Charting Oil
Oil falls today as inventories show plenty of fuel, with Joe Terranova, MBF Clearing director of trading, and the Fast Money crew.

Got something to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to fastmoney@cnbc.com.

Trader disclosure: On Jan 9, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (C), (MSFT), (MCD); Najarian Owns (AIG) Options, (CFC) Options, (VLO) Options, (WM) Options, (YHOO) Options; Finerman Owns (GS); Finerman's Firm Owns (DSW), (PLCE), (SKS), (WMT), (YHOO), (AEO),(CROX); Finerman's Firm Owns (MSFT) Options; Finerman's Firm Is Short (IYR), (IJR), (IWM), (SPY), (SPG), (TCO); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Seymour Owns (AA), (AAPL), (CFC), (ETFC), (INTC), (MBI), (MER), (MSFT), (SBUX), (YHOO), (CSCO), (TIE); Seygem Asset Management Owns (EWZ), (EWT); Seygem Asset Management Is Short (PBR); Terranova Owns (SJT); Terranova Owns Crude Oil; Terranova Is Short (VLO); Terranova Is Short S&P 500; The firm that employs Terranova owns (EP)

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  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

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  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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