Invesco DB Agriculture Fund

In the March meeting minutes, the FOMC staff review of the economy was stronger than the review presented at the January meeting.

The US Federal Reserve recently raised the benchmark lending rate by 25 basis points—the sixth hike since December 2015.

After reaching a lifetime high in October 2017, the ISM (Institute of Supply Management) non-manufacturing index fell 2.7 percentage points to 57.4%.

In this environment, green bonds could offer investors an option to hedge their portfolios against climate-related risk and enjoy a good risk-return profile.

Deere (DE) Financial Services represented 11.5% of the company’s revenues in 4Q16, which is higher than 9.7% in 4Q15.

Purdue University’s agriculture economy barometer measures producer sentiment and the health of the agriculture economy based on a monthly survey of 400 US producers.

Deere & Company, the world’s largest manufacturer of tractors and harvesting combines, is scheduled to declare its earnings for fiscal 4Q16 on November 23, 2016.

Deere & Company’s (DE) financial services (IYF) unit represented 10.2% of revenues in 3Q16, which is comparable to levels of 10.4% in 3Q15.

Deere & Company (DE) expects demand for the farm (MOO) equipment machinery in the US and Canada region to be subdued in the rest of the year.

The consensus rating among Bloomberg-listed analysts covering Deere & Company has leaned more towards a “neutral” rating since the beginning of 2016.

Deere is the world’s largest manufacturer of tractors and harvesting combines. It’s slated to declare its 3Q16 earnings before markets open on August 19.

AGCO’s (AGCO) year-to-date free cash flows have been negative—the company’s working capital requirements are greater in the first half of the year.

On June 29, AGCO (AGCO) announced that it acquired Cimbria Holdings from Silverfleet Capital for 310 million euros ($340 million).

The recent surge in soybean prices can coincide with the expectation of a strong El Niño effect, damaging the soya crops. In 1998 and 2010, the El Niño effect led to a surge in soybean (SOYB) prices.

Between 1996 and 2005, the energy index (XLE) (XOP) rallied the most within the broader commodity index (DBC).

The Barclay CTA Index returned 1.6% in June 2016. But how did its subindexes perform that month?

In April 2016, the Barclay CTA (commodity trading advisors) Index remained flat. It returned -0.08% in April 2016.

Deere downgraded its fiscal 2016 guidance again after cutting it in fiscal 1Q16, citing competitive pressures in construction and forestry equipment.

Deere expects demand for farm equipment machinery in Europe to be subdued in 2016 as farm incomes continue to linger at levels below the long-term average.

Deere (DE) now expects its Construction & Forestry segmental sales to drop 13% in fiscal 2016, as compared to its previous forecast of an 11% decline.

According to U.S. Department of Agriculture figures, net farm incomes in the United States rose from $76 billion in 2010 to $115.3 billion in 2013.

John Deere, who began his career as a blacksmith, founded the eponymous Deere & Company (DE) in 1837.

Deere & Company (DE) markets its products mostly through independent retailers spread across North America.

Agribusinesses including Deere & Company and AGCO are now offering technology-based solutions to drive the next generation of farming productivity gains.

Unlike major banks, which have access to low-cost bank deposits, Deere & Company’s (DE) funding costs are higher.

The US and Canada regions were responsible for 63.9%, 63%, and 66.1% of Deere & Company’s (DE) total revenues in 2013, 2014, and 2015, respectively.

Deere & Company (DE) has a market capitalization of ~$25 billion. It’s the world’s largest maker of farm equipment.

The monthly retail figures for equipment sales released by Deere and Caterpillar show a continued dip, despite the upturn in construction in 2016.

March wheat futures trading on the CBOT rose and closed at $4.63 per bushel on March 9, 2016. Wheat futures prices boosted the wheat export sentiments.

March corn futures prices were trading above the crucial support of $3.60 on March 10, 2016. Corn prices rose for the fifth consecutive trading day by ~1%.

Corn futures prices rose by 1.3% during the four straight days of increasing price movement.

Corn futures prices rose for the third consecutive trading day on March 8, 2016. It was trading near the resistance level of $3.60 per bushel on the day.

Corn futures on the CBOT, for March delivery, rose and settled at $3.58 per bushel on March 8. Corn prices rose despite weaker European corn import prospects.

March corn prices were trading near the crucial support of $3.55 per bushel for the seventh consecutive trading day on March 4.

March 2016 corn futures prices were trading near the support level of 355 cents per bushel on March 3, 2016. Prices declined after two days of rising by 0.28%.

Corn futures on CBOT for March delivery decreased 0.21% and closed at $3.53 per bushel on March 4. Corn declined due to a stronger pace of the South American harvest from favorable weather.

Corn prices for March 2016 expiry traded near the crucial support of 355 cents per bushel on March 2, 2016.

Corn futures prices on the Chicago Board of Trade for March expiry rose by 0.21% and settled at $3.54 per bushel on March 2, 2016.

Corn futures on CBOT (Chicago Board of Trade) for March delivery rose by 0.07% and settled at $3.53 per bushel on March 1, 2016.

In 2015, R&D and SG&A expenses were twice as large for specialty chemicals than they were for commodity chemicals for companies domiciled in the US.

Corn prices for March 2016 expiry were trading near the support of $3.55 per bushel on February 25, 2016. The prices fell for the third trading day by 3.3%.

Corn futures prices for March contracts were trading near the support level of $3.60 per bushel on February 24. Corn prices fell for the second trading day.

March corn contracts were near the key support of $3.60 per bushel on February 23. The fall in corn prices should keep it in the projected development range.

Corn futures trading on the CBOT, for March delivery, rose on February 22, 2016. Corn prices rose due to unfavorable weather conditions in South America.

March corn futures were trading near the crucial support level of 360 cents per bushel on February 8, 2016.

Corn futures prices on the Chicago Board of Trade (or CBOT) for March expiry fell by 0.96% and settled at $3.62 per bushel on February 8, 2016.

Corn futures contracts for March 2016 expiry were trading near the crucial support of $3.70 per bushel on February 4, 2016.

Ethanol stocks for the week ending on January 29, 2016, were at 22,362,000 barrels. They rose by 926,000 barrels from the previous week.

Corn futures on the CBOT, for March delivery, rose by 0.34% on February 2, 2016. Corn prices rose due to the technical short-covering rally.

Corn futures on the Chicago Board of Trade (or CBOT) for March delivery fell by 0.14% to settle at $3.69 per bushel on January 25, 2016.

March corn futures prices were trading near the crucial resistance level of 370 cents per bushel on January 21, 2016.

Corn futures prices for March 2016 delivery were trading near the crucial resistance level of $3.70 per bushel on January 20.

On January 20, corn futures on the CBOT for March delivery increased by 0.27%, settling at $3.68 per bushel in the wake high domestic corn demand.

Corn futures contracts, for March expiry, were trading above the key support level of $3.55 per bushel on January 14, 2016.

Corn futures on the CBOT (Chicago Board of Trade), for March delivery, rose slightly by 0.35% and settled at $3.58 per bushel on January 13, 2016.

Corn prices rose following the lower-than-projected yield from the USDA’s WASDE (World Agricultural Supply and Demand Estimates) report.

The corn futures contract for March expiration was trading near the key support level of 350 cents per bushel on January 11, 2016. Prices tested the resistance level but dropped significantly that day.

On January 7, 2016, March corn prices were trading near the key support level of 350 cents per bushel for the third consecutive trading day.

Corn futures prices for March expiry were trading near their crucial support level of 355 cents per bushel on January 5, 2016. Corn prices recovered from the sharp downward movement on January 5.

Corn futures prices for March delivery were trading below the crucial support level of 350 cents per bushel on January 4, 2016.

Corn futures on the CBOT (Chicago Board of Trade), for March delivery, fell by 0.07% and settled at $3.58 per bushel on December 31, 2015.

Corn future contracts for March expiration were trading near the key support level of 360 cents per bushel on the consecutive second trading day. Prices breached this critical support level on December 29.

Corn prices could test the crucial support level of 360 cents per bushel in the near term and could remain in the range of 355–365 cents.

Despite the rise in corn’s Weekly Export Sales Report, corn failed to keep the pace with the USDA’s export targets for the marketing year 2015–2016.

Brazil and Argentina are key corn producing countries, ranking third and sixth, respectively, in the world, according to the US Department of Agriculture.

March corn futures prices were near the key support of $3.65 per bushel on December 23, 2015. Corn prices fell for the third consecutive trading day.

March corn futures contracts fell by 0.20% and settled at $3.65 per bushel on December 23. The prices fell despite lower ethanol production supporting corn buying.

Corn futures contracts for March delivery were trading below the crucial support level of 375 for the second consecutive day on December 18, 2015.

Corn could progress more. Corn prices traded slightly above the 20-day moving average of $3.73 per bushel on December 17, 2015.

March corn futures prices were trading below the key support level of 370 cents per bushel on December 16, 2015.

March corn futures contracts traded on the Chicago Board of Trade (or CBOT) fell by 2.0% and settled at $3.69 per bushel on December 16, 2015.

The corn futures contracts for March expiry traded above $3.75 per bushel on December 15, 2015. Corn prices were in a symmetrical triangular pattern.

On the expiration day, corn futures contracts for December delivery were trading above the key support level at $3.80 per bushel on December 14, 2015.

December futures contracts for corn traded on the Chicago Board of Trade (or CBOT) fell by 1.1% and settled at $3.73 per bushel on December 11, 2015.

December corn futures prices were trading near the crucial support level of 370 cents on December 8, 2015.

December corn futures were trading above the support level of $3.70 per bushel on December 3, 2015. The increasing price movement steepened on the day.

Corn futures prices for December contracts were trading near the resistance level of 368 cents per bushel on December 1, 2015.

December futures contracts for corn were above 360 cents per bushel on November 20, 2015.

December futures contracts for corn traded on the Chicago Board of Trade (or CBOT) fell slightly by 0.27% to settle at $3.63 per bushel on November 20, 2015.

December corn futures contracts trading on the CBOT (Chicago Board of Trade) fell slightly by 0.07% and settled at $3.61 per bushel on November 18.

December futures contracts for corn, traded on the Chicago Board of Trade, rose by 0.56% and settled at $3.62 per bushel on November 17, 2015.

Technical buying, speculative trades, and weak anticipation from the weekly ethanol production report supported corn prices on November 11, 2015.

Corn futures prices for December 2015 expiry were trading below the support level of 360 cents per bushel at the end of the day on November 10, 2015.

The price of corn futures contracts for December delivery, trading on the CBOT, was near the key support of $3.80 per bushel on November 3, 2015.

Rainy weather in the US corn-belt triggered speculative trading based on final crop quality results and harvest progress.

For corn futures prices, the pulling and pushing factors are strong. Therefore, the anticipated volatility in corn futures prices might increase.

December contracts for corn futures trading on the Chicago Board of Trade (or CBOT) rose on October 26, 2015, and progressed on the upward price pattern.

On October 22, corn prices opened strong relative to the last close above 380 cents. However, a weaker data release pushed corn prices down, and they closed just above 375 cents.

Corn futures contracts for December trading on the CBOT (Chicago Board of Trade) rose by 1.06% and settled at $3.8 per bushel on October 21, 2015.

Wheat futures contracts for December fell by 1.13%, settling at $5.02 per bushel on October 15 on account of the rising US dollar index and weaker demand.

Corn futures prices fell 4.4% consecutively in the last four trading days, reversed by a less-than-expected harvest progress report. Prices closed very near the previous day’s prices.

Producers’ expectations—that the price of corn will rise after the October supply report—might come to fruition, confirming consensus market sentiments.

The US Department of Agriculture’s Weekly Export Sales Report, which released on October 8, 2015, showed a 31% decline in net corn export sales.

CBOT (Chicago Board of Trade) December delivery of corn futures contracts remained range-bound and fell on October 7, 2015, after a two-day price rally.

On October 6, 2015, CBOT (Chicago Board of Trade) December expiry of corn futures contracts rose, breaking the resistance level.

December CBOT corn futures prices rose 1.09% and settled at $3.93 per bushel on October 5, 2015. Prices rose due to lower-than-anticipated harvest progress in the USDA’s crop progress report.

December wheat futures contracts traded on the Chicago Board of Trade increased by 2.05% and settled at $4.96 per bushel on September 21, 2015.

If RIN prices rise, investors could expect higher demand for corn and prices, which is one factor that might drive fertilizer stocks.

After a record harvest in 2013, driven by high plantation acreage, favorable weather, and fertilizer application, crop prices have pulled back from the highs of 2012.

Crop price is one of the key drivers of fertilizer demand and prices. Globally, potash and phosphate are used for several types of crops.