chad-burlet

Chad Burlet, Author at IASG

Chad Burlet is Third Street Ag's Chief Trading Officer. He began his career with Cargill (1980-89) ultimately rising to head the firm's Commodity Marketing Division Oilseeds Trading Department. From 1989 to 1996 he was with Goldman Sachs/J. Aron where he traded US and world soybean futures, options and cash for the firm. Since 1996 he has been an independent trader, and since 2008 has also traded on behalf of other investors. Burlet’s experience, knowledge of worldwide soy/grain economics, and extensive network of contacts all contribute to his analysis of the markets, and ultimately, to the program’s trading decisions.

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wheat bombing
Advisor Commentary

August 2022 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments We opened the month of August with all eyes on the M/V Razoni, the first vessel to sail out of Ukraine since the Russian invasion in February. The Razoni and at least 64 other vessels traveled safely through the corridors the UN, Turkey, Russia, and Ukraine agreed […]

Corn field
Advisor Commentary

July 2022 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments The themes of uncertainty and volatility that have been with us for most of 2022 did not leave us during July. Some root causes, like the war in Ukraine, have been with us for many months, but new risks and unexpected developments have impacted the agricultural markets […]

Corn field
Advisor Commentary

June 2022 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments The last business day of June always brings the USDA’s June 1 Stocks Report and updated estimates of Planted Acres. The combination of those two reports, one for old and one for new crop, make it the most important agricultural report day of the year. This year […]

Corn field
Advisor Commentary

May 2022 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments We’re more than three months past the Russian invasion of Ukraine. Yet, developments in the Black Sea and countries’ reactions to these developments continue to dominate our markets daily. The loss of Ukrainian sunseeds and sunoil prompted Indonesia to ban palm exports. The loss of Ukrainian wheat […]

Corn field
Advisor Commentary

April 2022 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments Food security and domestic inflation have quickly become the top concerns of almost every country in the world. The loss of Ukrainian wheat exports caused several smaller countries to restrict their exports and encouraged several importing countries to increase their inventories. The loss of Ukrainian sunseed and […]

Corn field
Advisor Commentary

March 2022 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments From a commodity perspective, March came in like a lion and went out like a lion. At the beginning of the month, the market was trying to grasp the impact of the Russian invasion of Ukraine. At the end of the month, it was attempting to price […]

Wheat Field
Advisor Commentary

January 2022 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments January was a month of extreme volatility for the agricultural markets. The two primary drivers of price were the weather in South America and the Russian military buildup along the Ukrainian border. Southern Brazil, Argentina, and Paraguay experienced several days of record heat on the heels of […]

Wheat Field
Advisor Commentary

November 2021 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments As we close the month of November we are sad to report that COVID-19 has reclaimed the top spot as the single most important variable for the agricultural, and most other, markets. During the Thanksgiving break South African scientists announced that they had identified a new variant which was […]

Wheat Field
Advisor Commentary

October 2021 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments The line of dominoes known as supply chain disruptions finally reached the energy markets, causing coal, European natural gas, and crude oil prices to spike. West Texas Intermediate crude traded to new seven-year highs and crude oil futures ended the month up 11%. Those moves helped drive […]

Wheat Field
Advisor Commentary

September 2021 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments Over the past several years the USDA’s September stocks report has earned the reputation of being one of the most volatile of the year, and this year’s report did not disappoint. November soybean futures had a 50 cent trading range in the 29-1/2 days leading up to […]

Wheat Field
Advisor Commentary

August 2021 Market Letter

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%. […]

Wheat Field
Advisor Commentary

July 2021 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments Released: August 1st, 2021 We came into July on the heels of a huge price rally caused by the USDA’s June 30th acreage report. Their estimates for corn and soybean plantings were both more than a million acres below the average of the analysts’ estimates. Those rallies […]

Wheat Field
Advisor Commentary

June 2021 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments Released: Wednesday, June 30, 2021 In our May Market Letter we wrote about the exceptional volatility in the agricultural futures markets. June showed us that May was just a warmup. In May corn had seen a 3.5% break and a 3.9% rally in a very short time […]

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