67c563b8-ee77-4d52-8de2-4c83aee5f536

Greetings, We begin with several updates on commodities. 1. Soybean meal futures continue to rocket higher. While China’s rising demand for feed is one of the factors, at this point hot money is all over this market. Source: @barchart 2. The situation is similar with US sugar and soy futures, where the rally has accelerated. Source:

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blog-ethics-law

It is imperative that the chief compliance officer of an RIA review the RIAs policies and procedures to make certain that the Code of Ethics and policies and procedures are up to date and contain a definition of “Access Person” that is consistent with Rule 204A-1 and the SEC’s interpretations of that rule

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f5b02ec5-0026-4a64-9611-6837ceb8501a

Greetings, We begin with the United States where new capital goods orders (ex-aircraft) continue to decline. Weak Capex is likely to keep productivity growth low for some time to come. According to Merrill Lynch, investors are keenly aware of this situation and apparently would like to see more Capex spending by companies. So far, however,

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