Given the spike in copper and oil (but not gold), perhaps its time to take a look this long term chart of commodities:

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Source: BLS, FactSet, J.P. Morgan Asset Management.
Data reflect most recently available as of 6/30/11.

Source: JP Morgan funds

Category: Commodities, Data Analysis

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

7 Responses to “Global Commodities”

  1. AHodge says:

    i like grains and soon livestock
    i am short energy (gasoline)

  2. Pantmaker says:

    Very…very short gold here. It is actually the largest single position I have put on in almost 4 years.

  3. macrotrader603 says:

    @Pantmaker…what time frame are you trading? short or longer term?

    Where is your stop at?

  4. philipat says:

    @Pantmaker

    Agree with mt603, that trade could really hurt you without stop(s) and only as a short term trade. The fundamentals have not changed (Major Governments have decided to print money as the “solution” to excessive debt problems). IMHO Gold is in a brief correction but the uptrend remains very firmly in place. Physical demand remains extremely strong in the EM’s, where a genetic mistrust of paper money has served the populations very well over the years. Perhaps Western folks are slow learners?

    Regarding the “Softs” and oil, as I keep pointing out (The charts illustrate this nicely), I think most folks don’t have a good understanding of basic math. For sure, EM’s growth rate will slow, especially China in the short term. What is it about “Growh will slow” that can’t be understood? If China’s economy slows to, say, 5% PA GROWTH, that still adds 5% PA demand on an increasing share of the total for all these commodities.

  5. Greg0658 says:

    Pantmaker don’t fess up .. gold can be irrational longer than your position .. but paper law is on the side of paper money

  6. Pantmaker says:

    @macrotrader603

    Longer term- 2-3 years maybe quicker. Using GLD as proxy for my rough targets 135 may be in very short order. 90 is the real magnet for this move and the area where the bigger slugs of volume have traded…65 if it overshoots to the downside…and we know everything always does. I don’t have a stop on this trade…haven’t even considered one. The trick (at least for me) will be not covering too early and just letting it ride.

  7. econoside says:

    Here is link to publication of US Department of Agriculture
    Feed Grains
    and links to “Commitments of Traders – Futures Reports”
    - precious metals
    Gold
    Silver
    - energy
    Crude Oil, Light Sweet
    - grains
    Corn – CBOT

    Oats – CBOT

    Rough Rice – CBOT

    Soybeans – CBOT

    Wheat – CBOT

    - livestock
    Feeder Cattle – CME