Category: Advisor Commentary

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Advisor Commentary

Warrington August 2021 Market Update

Commentary provided by Mark Adams of Warrington Asset Management The S&P 500 Index (“S&P”) continued its relentless advance throughout August in the face of ongoing global crosscurrents.  The exponential spread of the Delta variant of Covid, the resurgence of Taliban control in Afghanistan, and the underreported troubles of China’s largest real estate developer (Evergrande), all provided […]

Advisor Commentary

August 2021 Flash Report

Equity markets continue to trend higher with yet another consecutive month of positive returns. Inflation fears seem to have subsided and the Fed is looking at tapering bond purchases which the market has already expressed.   We seem to be at a crossroads as the global economy determines which direction we go. What will impact […]

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%. […]

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Advisor Commentary

Warrington July 2021 Market Update

Commentary provided by Mark Adams of Warrington Asset Management The net return of the S&P 500 Index (“S&P”) for July once again masked a series of domestic and global undercurrents that had the potential to negatively impact the world economy. In the end, none of those contributors had the ability to derail the ongoing rally […]

Corn field
Advisor Commentary

Gamma Q July 2021 Market Update

Commentary provided by Todd Delay of Gamma Q Further consolidation occurred in July with range bound trading for corn and soybeans. Wheat was the leader with deteriorating conditions across many areas, particularly the Northern Plains supporting price. The July WASDE report reduced wheat stocks by nearly 100 million bushels and we feel further reductions need […]

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 […]

Advisor Commentary

When Good News is Bad

My favorite analogy for passive investing describes two men sitting at a bar. One is drunk and the other sober.  When the night is over the sober man leads the other home to make sure he gets there safely. Historically, hedge funds and active investors pored over financials, looked at P/E ratios, and listened to […]

Wheat Field
Advisor Commentary

April 2021 Market Letter

Commentary provided by Chad Burlet of Third Street AG Investments April had the largest one month rally of corn futures ever. Considering the 162 year history of corn futures, that is no small milestone. May Corn futures rallied $1.75¾ (31.1%) this month. In the process the front month soybean/corn ratio moved from 2.55 to 2.12 and May […]

Wheat Field
Advisor Commentary

Incredible Velocity Movement Between KC Wheat and Chicago Corn

Commentary provided by Chad Burlet of Third Street AG Investments As always, the month of March and the first quarter ended with the USDA’s release of their March 1 stocks report and their spring planting intentions report. These reports often have the potential to dramatically disrupt conventional wisdom and today’s report did not disappoint. For the past […]

Wheat Field
Advisor Commentary

February 2021 Grain Market Commentary

Commentary provided by Chad Burlet of Third Street AG Investments With only one trading day left in February, it’s clear that the spring acreage fight has captured the market’s attention. While old crop corn and soybeans struggled near highs that were set weeks ago, November soybeans and December corn raced to new contract highs yesterday. Through […]

Advisor Commentary

Commodities: A Range of Opportunities for 2021 – Market Outlook

“With a new secular bull trend, Commodities are among the most attractive markets this year. This commodity environment could be an exceptional moment to be in a spread program.” The economic pendulum tends to be swinging towards commodities. The notion that low commodity prices are their own cure may be playing out in 2021[1], with […]

Advisor Commentary

Webinar on Market Volatility in the Covid era

Tune in October 7th at 4pm CDT to listen to Ernie Chan from QTS Capital and Damon Pavlatos talk about how they view and trade volatility around major world events. This event is sponsored in part by IASG Fund Services. Dr. Ernest Chan Damon Pavlatos Exogenous events affect the financial markets with downside volatility. Technical […]

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