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
Advisor Commentary

Agricultural Futures See Lower Volatility in January

Commentary provided by Chad Burlet of Third Street AG Investments By recent standards, January was a relatively quiet month for agricultural futures. Volatility trended lower for corn, wheat, and soybeans, and their monthly trading ranges were near the lowest of the past year. The top three global issues were the same as last month: 1) dryness in […]

Wheat
Advisor Commentary

November 2022 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments With the arrival of winter in the northern hemisphere, a majority of market observers have turned their attention toward the production prospects in the southern hemisphere, where Brazil, Argentina, and Australia dominate. Australia’s leading crop is wheat, and they are on track to produce their third large […]

grain
Advisor Commentary

October 2022 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments After months of high volatility and wide daily and weekly trading ranges, the agricultural markets settled down considerably in October. Corn and soybean futures were particularly docile, with corn volatility falling to a two-year low and soybean volatility to a one-year low. The monthly trading range in […]

Advisor Commentary

September 2022 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments The last business day of September always brings the USDA’s report of September 1st U.S. grain stocks, the end of the previous crop year. This report has often yielded surprises that force a change in the last fall’s crop size and create significant moves in the futures […]

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 […]

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