Corn Futures Are Getting Smoked Today, Thanks to Great Weather

Your BBQ activities should be getting a little less cost intensive. The price of corn is getting its husks slapped off today, thanks to better than expected weather (rolls eyes). As such, ETFs like CORN, WEAT and BAL have become denizens of misery. The last two aren’t corn related (wheat, cotton). However, good weather affects all crops equally. We’re gonna have a great harvest laddies. Withhold the human sacrifices upon the temple of goodness until we need them.

“The weather patterns are taking out some of the heat, and we’re also adding a little bit of moisture” in the U.S., Ryan Kelbrants, a market analyst at CHS Hedging LLC in Inver Grove Heights, Minnesota, said in a telephone interview. “Our crop scouts are reporting excellent conditions.”

The potash industry (POT, MOS, CF) likely loathes good weather, as demand for their nitrogen laden products wane with the sunshine. But if we look down the road and think about who wins from cheaper corn inputs, stocks like BWLD, WING, MGPI, PEIX and a slew of restaurant and ethanol plays might work.

Queen Yellen, of Fed Fantasyland, spoke to the people today, performing his speech with a grande eloquence that we’ve grown to expect from her highness. The pageantry was superb, as she spoke down to us from her high pedestal. The crafters of this treatise, presented to us today, should be rewarded with both land and title. For after she gave it, a singular tear rolled down the side of my face.

In it, the Queen declared global headwinds made her stop hiking rates. She’s a very benign monarch and always looks out for the people. In this instance, she demonstrated a certain magnanimity that is only found in the greatest of humans. She’s spared billions of people around the world from the pangs of starvation by keeping rates artificially low.

She furthered that if said headwinds, most of which are unseen and indiscernible to the plebian eye, that she might resume the construction of a higher interest rate economy.

Isn’t it so grande?

Lastly, I’d like to mention her attire was of the first magnitude. Those wooden pearls draping her stubbed neck, coupled with that white blazer with the collar flipped up, were nothing less than divine.

This imbecile will give her semi annual speech today, describing why she prefers Werthers butterscotch candies over Andies mints. Also, she might need to cut the speech short today, as it is rumored she has a podiatrist appointment that needs to be attended.

Yellen inherited a strong, alpha bank, and made it beardless. Her lack of leadership has turned the world’s leading central bank into a mockery, one that is chided and derided at dinner tables worldwide.

“Hello father, may you please pass the mashed potatoes. They rather remind me Janet Yellen’s head.”

“Good one son. Don’t forget to sprinkle some extra pepper on your Yellen mashed potatoes to give her a Bernanke beard. Aye me laddie, I somewhat miss that old bearded bastard.”

“Me too papa.”

Futures are higher but selling off, as WTI sinks into a fucking black hole into oblivion, now off by almost 2%.

I know, they’re pioneers. But the fucking airplane goes as fast as a Kia. It’s gonna take these two morons 90 hours to cross the Atlantic. This plane is so bad, the two pilots needed to take meditation and hypnosis classes in order to prevent them from driving the piece of shit into a mountain or into the mouths of an octopus.

An airplane powered solely by energy from the sun headed across the Atlantic early on Monday, on one of the longest legs of the first-ever flight around the globe without using a drop of fuel.
The spindly, single-seat Solar Impulse 2 left John F. Kennedy International Airport at about 2:30 a.m. EDT on a trip expected to take up to 90 hours, the 15th leg of its round-the-world journey.
Swiss aviators Bertrand Piccard and Andre Borschberg have been taking turns piloting the plane, which has more than 17,000 solar cells built into wings whose span exceeds that of a Boeing 747, with Piccard at the controls for the transatlantic flight.
The airplane’s slow cruising speed, similar to that of a car, has required both men to take up meditation and hypnosis as part of training to stay alert for long periods.

 

The smartest guys in the room are selling some their shopping mall portfolio. Is this the bottom or a sign of worse things to come?

Starwood Capital Group LLC hired Eastdil Secured LLC to broker the sale of U.S. malls valued at about $1.2 billion, according to two people with knowledge of the matter.

Starwood is selling malls it had acquired from Westfield Corp. including assets in Chicago, San Francisco and Cleveland, the people said, asking not to be identified as the sales process is private. Starwood and Eastdil declined to comment.

Interestingly, just two years ago they bought 7 malls from Taubman for $1.4 billion.

The gurus from Morgan Stanley are out with a report, pounding the table for stocks, suggesting we have an 11% upside from current levels. Moreover, thoughts emanating from within their skulls, they’re strongly biased towards the banks. Their top pick is DFS, for a sundry of reasons.

Their top picks:

We are overweight financials. In this report we analyze the case for the overweight and highlight our analysts’ top picks across the financial sector: DFS, IVZ, SIVB, KBC, and GS.

Portfolio Manager’s Summary: We think the risk-reward is pretty balanced for the US equity market, a more moderate stance than our bullish view for most of the last 3 years. The case for overweighting financials is a combination of weak positioning, improving deal volume, limited currency sensitivity, high growth in shareholder return, and a very low price.

Most of you are unfamiliar with the root causes of the Zika virus. What am I about to tell you will come as a surprise to many, due to the fact that these facts are kept hidden. But the Zika virus was, in fact, CREATED BY YOUR GOVERNMENT TO FIGHT THE DENGUE.

Trying to cure one indigenous disease and instead creating a far greater and more dangerous one makes the inventor(s) of these genetically modified mosquitoes the very worst person(s) in the world. He is on Hitler’s scale of evil.

But it’s all a conspiracy and does not exist. Enjoy your time on Safari you fucking imbeciles.

Zika stands to infect 4 million Americans by the end of the year, and the number of children born with conditions related to the disease may one of the biggest impacts on child health care since HIV and AIDS in the 1990s.

That is the verdict drawn by Peter Hotez, the dean of Baylor College of Medicine’s National School of Tropical Medicine, in a special communications article published online by JAMA Pediatrics. Hotez called Zika “the virus from hell,” for what it does to the developing brains of unborn babies.

The birth defect known as microcephaly has been widely publicized since public health officials connected it to the virus earlier this year. However, doctors and scientists are just beginning to grasp the range of effects the disease has on fetuses and developing children, and that microcephaly is just the “tip of the iceberg,” Hotez said.

Zika causes microcephaly because it attacks the stem cells that become brain cells. In babies affected by the virus, the brain simply does not develop. The developing skull simply “implodes” around the brain, which is only developing minimally.

“So I think people don’t often appreciate how devastating Zika virus is,” Hotez said. Because the virus appears to attack the neural stem cells, there is a range of potential effects beyond microcephaly that are possible, and that we simply have not seen yet. Children may even be vulnerable to the effects if they are infected after they are born, since the brain continues to develop in infancy.

Hotez said he fears the disease is already gaining a foothold in the Gulf Coast region and is calling for more monitoring of vulnerable areas.

“My concern is that Zika could already be here on the Gulf Coast, it is just that nobody is looking, because none of the country and local health departments have funding to conduct active surveillance,” Hotez told CNBC in an interview. “So I am quite worried that Zika is already here, and that we have no programs in place to actively look for it.”

Long live genetically modified mosquitoes, from which the end of the world as we know it will be ushered in by. Oh, fun fact, the genetically modified mosquitoes are rumored to have been funded by Bill Gates. But nothing is traceable, now that Zika threatens to end civilization. There isn’t any evidence of anything awry. Babies brains are simply imploding on their own.

Ticker symbol INO is working in a vaccine.

ATTENTION British People: The New World Order descends upon you. They demand obedience and for you to vote for BREMAIN, else the man who broke your stupid little bank to pieces will, inexorably, do it again.

George Soros is warning of a 20% drop in the British Pound, worse than the 1992 crash, unless they vote against BREXIT. This, of course, isn’t viewed by many as a threat, but a promise. The overwhelming consensus opinion, magnified through the media, is that freedom from the unelected bureaucrat in the EU equals depression and hard times.

Every likes the status quo, because the evil you know is always better than the one that looms.

The rally predicated upon the superfluities of some cigar eating savages has ended. If I might say so, the rally ended on a bit of a sour’d note, with the Dow getting clown slapped in the final half hour of trade, the time of day designated for handicapped traders in wheeled chairs, traversing ramps for both fun and glory.

Today’s big story wasn’t the fact that asset prices rose, but the fact that the Yen could not trade lower amidst all of this overzealous perfidy. For lack of a better phrase, the entirety of the Japanese people will be fucked if the Yen breaks 100 to the downside on the USD/JPY cross. Now sporting a 103 handle, things will begin to get very interesting soon.

Moving on. Gold was once a lot lower, but closed near the flatline.

Everything about the rally was pernicious. Inside Exodus, the IWM is flagged overbought, with a flawless track record to boot. During the previous 10 occasions when the IWN was overbought, all ten led to a market decline, averaging next to a 2% loss over 10 trading days.

Be well.

The Yen was weaker v the dollar today, but has now reversed is heading higher now. The fate of the samurai in Japan lies with its currency. The 100 level is thought to be the rubicon by which the entire nation of Japan swims down a collective toilet bowl, once breached.

Bear in mind, yields are sinking lower. The negative rate policy has been disastrous for asset prices.

BEHOLD the deflationary vortex.