IASG, Author at IASG

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oil
Advisor Commentary

Oil: The False Sense of Supply Security

With the crude oil markets now trading well below where it was before the Russian invasion of Ukraine, observers may be forgiven for thinking that the consumer has won, meaning the producer has lost. Higher pump prices and the consumer’s weaker purchasing power certainly held back demand growth to only +1.85 million barrels per day […]

Corn field
Advisor Commentary

December 2022 Opus Futures Ag Commentary

Commentary provided by David Zelinski of Opus Futures. Happy New Year to all! I’m excited to get off to a great start in 2023, but before discussing the outlook, I want to spend a quick minute discussing 2022. Our program was off to a strong start in the first half of 2022, but profits were harder […]

Soybeans
Advisor Commentary

December 2022 Advanced Ag Program Commentary

Commentary provided by David Zelinski of Opus Futures. I struck a bullish tone toward corn and soybean markets in last month’s commentary. Part of the bullishness was due to the recent (at that time) news of a breakdown in the Ukraine export corridor. We now know that the Russians backed down very quickly from their harsh […]

light tubes
Advisor Commentary

December 2022 Macro Monitor Commentary

Commentary provided by David Zelinski of Opus Futures. In last month’s commentary, we reviewed various data points indicating that inflation is starting to roll over. While inflation readings are sure to remain elevated for several more months, the worst is clearly behind us, and the more pressing concern going forward could be slowing economic demand. Nothing […]

Corn field
Advisor Commentary

October 2022 Opus Futures Ag Commentary

Commentary provided by David Zelinski of Opus Futures. In last month’s commentary, we went through a few reasons why grain and oilseed prices were likely to come under some pressure. We pointed out the low river water levels, which were restricting export capacity and the usual seasonal harvest pressure on prices. The river situation has played […]

Oil
Advisor Commentary

Oil market mid-year S&D outlook: GZC Strategic Commodities Fund May 2022 Report

Commentary by GZC Investment Management Global balances in crude have been tight in 2H21 but since then have been globally neutral to soft. Great disparities between OECD and non-OECD countries have been noticeable. In short, OECD has been drawing oil stocks rapidly until recently while non-OECD countries, particularly China, were constantly building stocks, allowing them […]

oil
Advisor Commentary

Cayler Capital April 2022 Commentary

Commentary provided by Brent Belote of Cayler Capital Cayler Capital had a slight pullback after our blockbuster performance in March, posting -5.53% for April (Past Performance not indicative of future results). Primary losses were from long oil positions. We have gone back to the sideline for the time being on oil directionally but still believe […]

red-blue-fluid
Advisor Commentary

Numberline Capital Partners March Performance Report and Market Summary

Commentary by John Knott of Numberline Capital Partners. The NLCP Macro-Economic Model up ticked slightly this month from 8.16 to 8.32. That was a little surprising. We expect it to continue to weaken “slowly” as we move into summer and the Fed tries to slow the economy down. There has been a lot of talk about […]

Jerome Powell
Advisor Commentary

AG Capital March 2022 Investor Update

Does Powell want an equity market decline? It seems so. Former Fed chair Bernanke spent a decade delivering a policy of actively pursuing a “wealth effect” via quantitative easing (QE), hoping that stock market gains would unleash additional spending in the economy. It didn’t really work, only serving to exacerbate the wealth divide. It took […]

red-blue-fluid
Advisor Commentary

Numberline Capital Partners February Performance Report and Market Summary

Commentary by John Knott of Numberline Capital Partners. Last month, we left off expecting a re-test of the price lows but firmly believed the “panic selling” was largely done with. Well, we got the re-test on all three major indices. The market has stayed volatile as expected, and sentiment has rarely been this bad. Commodities are […]

Wheat Field
Advisor Commentary

Gamma Q February 2022 Market Update

Commentary provided by Todd Delay of Gamma Q Our long bias to corn and the soybean complex drove returns for February. Deteriorating weather conditions in South America ratcheted down production estimates providing support to corn and soybeans; then, as the month came to an end, it was marked with the opening of the Russian invasion […]

Oil
Advisor Commentary

Russian Sanctions Already Traded: GZC Strategic Commodities Fund January 2022 Report

Commentary by GZC Investment Management In January, global energy demand was on the strong side of expectations, with oil storage in OECD drawing significantly. However, global crude oil balances suggest it is likely to ease for the coming months despite a strong backwardation in oil curves and limitation in US stocks building instrumented by Saudi […]

Corn field
Advisor Commentary

Gamma Q January 2022 Market Update

Commentary provided by Todd Delay of Gamma Q Breckhurst Commodity Fund (onshore) was up a net estimate of 1.29% for January, and Breckhurst Commodity Fund (Cayman) was up a net estimate of 1.25%. The risk loss in trading futures and options can be substantial. Past performance is not necessarily indicative of future results. A long […]

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