The news throughout 2015 has been certainly grim for commodity producers of all stripes. With the Bloomberg Commodity Index (which tracks a wide ranging basket of commodity prices) falling yesterday to its lowest level since June of 1999, the news is clearly not getting any better as the end of the year approaches. With metals and oil being particularly hard hit, mining firms and oil & gas companies are scrambling to cut costs, suspend stock dividends and write-down assets as they simply try to survive the current price storm. And even though ags have suffered less than the metals and energies this year, more than adequate supplies have prices in grains and other ags at or near 5 year lows. Though producers are the first to feel the impacts of record low commodity prices, they aren’t alone. With little prospect of good news that might buoy the markets, few traders are looking to expand their activities in a consistently falling market. Sure, there may be opportunities to short positions, but given the complexities of the global markets (where good or bad news can emerge from any one of a thousand sources along the commodities supply chain and create unexpected price … continue reading
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