Chad Burlet, Author at IASG

Commentary provided by Chad Burlet of Third Street AG Investments We’re more than three months past the Russian invasion of Ukraine. Yet, developments in the Black Sea and countries’ reactions to these developments continue to dominate our markets daily. The loss of Ukrainian sunseeds and sunoil prompted Indonesia to ban palm exports. The loss of Ukrainian wheat […]

Commentary provided by Chad Burlet of Third Street AG Investments Food security and domestic inflation have quickly become the top concerns of almost every country in the world. The loss of Ukrainian wheat exports caused several smaller countries to restrict their exports and encouraged several importing countries to increase their inventories. The loss of Ukrainian sunseed and […]

Commentary provided by Chad Burlet of Third Street AG Investments From a commodity perspective, March came in like a lion and went out like a lion. At the beginning of the month, the market was trying to grasp the impact of the Russian invasion of Ukraine. At the end of the month, it was attempting to price […]

Commentary provided by Chad Burlet of Third Street AG Investments January was a month of extreme volatility for the agricultural markets. The two primary drivers of price were the weather in South America and the Russian military buildup along the Ukrainian border. Southern Brazil, Argentina, and Paraguay experienced several days of record heat on the heels of […]

Commentary provided by Chad Burlet of Third Street AG Investments As we close the month of November we are sad to report that COVID-19 has reclaimed the top spot as the single most important variable for the agricultural, and most other, markets. During the Thanksgiving break South African scientists announced that they had identified a new variant which was […]

Commentary provided by Chad Burlet of Third Street AG Investments The line of dominoes known as supply chain disruptions finally reached the energy markets, causing coal, European natural gas, and crude oil prices to spike. West Texas Intermediate crude traded to new seven-year highs and crude oil futures ended the month up 11%. Those moves helped drive […]

Commentary provided by Chad Burlet of Third Street AG Investments Over the past several years the USDA’s September stocks report has earned the reputation of being one of the most volatile of the year, and this year’s report did not disappoint. November soybean futures had a 50 cent trading range in the 29-1/2 days leading up to […]

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%. […]

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 […]

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 […]

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 […]

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 […]

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 […]