|Pity this has now been wound up. Received the proceeds recently & am looking for something similar. Any suggestions?|
|This has held up well during the recent tumoil & yes, a good hedge against possible future inflation.|
|I note that the last post was way back in '08. In these turbulent times and inflation lurking in the background I've bought some shares.|
|From Agriprods 08/12:
A Little Good News, Here And There, To Alleviate The Gloom
Forecasts for better agricultural commodity prices in 2009 were made by two major international banks Credit Suisse and JP Morgan. The bad news is that they think the markets could fall further first. "Agricultural commodity prices should outperform metals and oils in 2009, benefitting from a secure demand outlook and tight supplies, after the dust settles from the sell-off across commodities triggered by the global financial crisis", said JP Morgan commodity analyst Lawrence Eagles. He added that "people still need to eat" and that these commodities were more responsive to population numbers than the gloomy macroeconomic outlook.
Cocoa, coffee and sugar are all close to a supply/demand balance, leaving the markets vulnerable to any supply shocks over the coming year, with minimal buffer stocks available. There was little good news in markets last week, however, one exception -for farmers at least- being fertiliser prices.
As agriculture markets weaken, urea prices (cost & freight), which touched US$850 a tonne in July-August, are now around US$260 a tonne, DAP prices have eased from over US$1,300 in October to US$480-500 a tonne, while ammonia imported from West Asia has dropped from US$900 in August to US$180, phosphoric acid (from Morocco) from US$2,300 in October to US$1,200, and rock phosphate (from Jordan) from US$450 in October to US$300 a tonne. The most spectacular fall has been sulphur (mainly from Saudi Arabia and Canada) - from US$850 in September to US$55-60 a tonne! An indication of the impact of past high prices came of figures showing Brazilian fertilizer deliveries were down 35.5 per cent in October compared with the same month in 2007, according to the National Association of Fertilizer Distributors.
Among the fertiliser industry casualties, Mosaic saw its shares fall by 16 per cent before they rallied, after it gave a profit warning. The world's largest producer of phosphates says sales volumes dropped 38 per cent in the quarter ended November. 30 because of "soft market conditions." So it withdrew the guidance that it had given to brokers' analysts for next year's profits. At the moment it is unsure how much money it will make as it is cutting production as farmers order less. But on Friday the shares were up 4.9 per cent at US$27.57.
Russian fertiliser maker EuroChem spent nearly US$400 million raising its stake in German potash and salt supplier K+S, and bringing questions on its plans the rival group. EuroChem, controlled by Russian investor Andrei Melnichenko, has lifted its stake in K+S to 15 per cent from 10 per cent. On Friday profit-taking took K+S shares down EUR2.17 at EUR32.25.
Palm oil prices were leading down the plantation stocks on Friday, with the price around US$436/tonne. On Thursday, Goldman Sachs lowered its CPO price assumptions for 2009 and 2010 by 41 per cent and 50 per cent while cutting the target prices for plantation companies under its coverage by up to 52 per cent. It said while CPO prices at current levels were close to a bottom but the timing of a re-rating for the sector remains uncertain. In Malaysia Kulim, IOI Corp and Asiatic all fell, but United Plantations added 10 sen to RM10.10. In London the palm sector rose, headed by New Britain, which was up 4.5 per cent at 172.5p.
Led by Brazil's biennial tree cycle, world coffee production in 2008-09 is at a record 138.4 million bags (60 kilograms), the US Department of Agriculture said on Friday. Ending stocks are forecast to total 39.6 million bags versus the previous year's 34.5 million as a result of Brazil's record production. Since 2003-04, following Brazil, ending inventories had been trending downward. Last week on Friday on LIFFE Robusta for delivery in January slumped to US$1,558 a tonne from US$1,980 a week earlier. On the NYBOT, Arabica for March fell to 102.45 US cents a pound from 115.80 US cents.
Christmas shopping was behind the fall in cocoa. Farmers in Nigeria's south-western cocoa belt have begun selling in earnest the beans they hoarded last month to make money for the upcoming holiday season. On the New York Board of Trade, the March cocoa contract decreased to US$2,146 a tonne from US$2,280. March dropped to £1,488 a tonne from £1,515 in the week earlier in London on LIFFE.
Depressed by both the recession and falling energy prices, sugar weakened to under £300 a tonne in London, with the March contract on LIFFE sliding to £294.50 pounds from £328.40 the previous week. On the NYBOT, the price of unrefined sugar for March dropped to US 10.55 cents per pound from 11.88 cents.
As global car and tire sales fall, Thailand, the world's biggest rubber producer, is asking fellow producers Indonesia and Malaysia to agree to buy rubber from its farmers at guaranteed prices. Rubber has plunged to a five-year low, down 70 per cent from its June 28-year high. On Friday the Malaysian Rubber Board's benchmark SMR20 slumped to 116.10 US cents per kilo from 140.35 US cents per kilo a week earlier.
Rice was another rare gainer, as the poor US crop and a rise in cash orders squeezed the market. US rough rice futures on the Chicago Board of Trade rallied the 50-cent limit and reached a two-week high on Friday. January rice ended 44 cents higher at US $14.13 per hundredweight and March closed 23-1/2 cents up.
US food corporates, however, were a gloomy scene. The sector is less resilient to depression than it had hoped. Squeezed between volatile food costs and falling meat prices, US chicken producer Pilgrim's Pride announced it was filing for voluntary bankruptcy protection, tumbling its shares 46 percent to US$0.62. Pilgrim's troubles also weighed on competitors Tyson Foods and Sanderson Farms, sending their share prices down over ten per cent.
In Europe the picture looks better. Major European international food companies should continue to "prove resilient", despite the challenge from rising costs, Credit Suisse believes. Despite tough conditions "..the entire industry managed to raise product prices as of the fourth quarter of 2007 and continued doing so in 2008," says analyst Olivier P. Müller. Most companies had refocused their businesses and were reducing net debt. Credit Suisse favours Lindt & Sprüngli, Nestlé and Unilever, which now have a low degree of financial leverage. But it still sees some potential for further debt reduction at Cadbury, Danone and Danisco.
Dry shipping markets continued dire, with the Baltic Dry Index down on the week by 11.9 per cent to 672, against last year's average of 7,100. German shipyards are to get government financial backing.
Speculators are behind the lower prices being indicated for Argentine honey ahead of new crop prices in January, say traders. Hopeful buyers are quoting around US$3,100 a tonne cif Europe, against US$3,300 a week ago. However, with the dollar firmer and shoppers purse-pinched, Argentina may have to lose some of its market premium.
Rapid growth for Australia's almond industry is threatened by lack of water and another scare commodity bees. If it is to reach the 2015 sales target of A$500 million, then 250,000 hives are needed while there are now 150,000. Prices are currently around US$6,059 a tonne.
|NAV 105c, price 95.5c, disc 9%.
What puts me off a bit is the investments using derivatives - hence counterparties.
Worth keeping a watch though.|
u shud convert 2 $ :)
Bid/offer of 1.12 - 1.15 but I was quoted an equivalent of 1.182 when I tried to buy. Out of order, so I passed this time.|
|ta...probably sensible to only dip yur toe in anyway...hmm...i'll ponder..mind u cant c wher u got 54p from though... :)|
|BT, I bought @54p almost at full price in mid-Jan. got only a few- wish had been more adventurous!|
|Mangs mind me asking how much u invested and at what price?....dod u get inside the spread much?|
|The maimum online quote I got today was for a measly 2500 shares, which seems very illiquid for this size NAV. Anyone any experience or thoughts with this?|
|Am interested but its a v small outfit ,|
|Hi JDT friend; nice to hear from you.
Good to see that this one has held up well(so far) in the current market turmoil.|
|Mangs nothing to say of use..but u seem quite lonely here so i thought i wud say hello :)|
|This appears to be trading at a premium to the NAV but, I think, the share price is v likely at a discount as soft commodities have risen quite a bit since the date of NAV.|
"We are delighted to be the first Company listed in London dedicated to
investing in the skills of discretionary traders using exchange-traded
agricultural commodity contracts and derivatives. Agricultural commodities are a
major alternative asset class with low correlation to equities, fixed income and
other established assets. By focusing on skilled traders, with active commodity
investment expertise, the Company will aim to distinguish itself from passive
strategies such as agriculture commodity index tracking products."|
|Crop Circles Made by Military Satellites
I (the author of this web-site) "www.pastpresentfuture.info", have been visiting some crop circles in the UK, and I took some samples of vegetation and dead insects with me.
At home, with my microscope I have been carefully observing the tissues of the plants and of the insects. In order to find out how their state could be reproduced, I put some healthy plants and insects in a modified microwave oven combined with a laser burner (yes, I am truly sorry for this rude experiment) and I examined the tissues under the microscope.
Comparing the tissues, that I took from the crop circles in the UK with that I took from my microwave oven, bought me to an interesting conclusion : they look highly similar.
In other words, the cropcircles have been produced by microwave laser technology. This technology is used by the military.
Microwave laser games
As you know, with lasers it is possible to cut (fashion, dentist, etc.), bend and melt (industrial), and so forth, at great precision and from large distance. Microwave laser technology, or better, maser
technology, is used at a military satellite in order to "shoot" maser beams at precisely computed locations on our planet.
This kind of satellite is aimed to destoy anyhting at any time at any location under any atmospheric circumstances. Such satellite is not publicly known, i.e. kept secret, of course, and is responsible for
several "unresolved" airplane crashes.
Yes my dear visitor, maser satellites are flying right over you and you are not safe. It is all in the game of cover-up, misusing the belief of mankind that extra-terrestials are having an artistic party overnight. Well, not so, as the militaries are playing around with masers, using computers to design nice patterns and to guide the maser beams.
In the early 1970's I started playing with mainfame computers to produce nice mathematical patterns. And sure I was not the only one. It is a common hobbyism. Nothing to do with galactic federations and Alien prophecies or symbols of universal wisdom.
Now, back to my microscopic investigation : in both cases (from the UK by artistic militaries and from my microwave & laser burner) the tissues of the plants showed tiny particles of near-crystallized dust that were melted / bonded with the tissue. Both the plants and the
insects were literally cooked. This effect can only be reached by masers.
Aiming a computer guided maser at high altitude towards a crop field, in about 15 seconds a large complex pattern can be projected and "cooked in", using rotating maserbeams (it would be quite unfortunate if you would be moving under the beam at such moment)
Weapon used as toy
This is how crop circles are made, with a computer guided maser satellite, by bored artistic militaries. Period.
Oh, and the light flashes ? Well, simple, because of the electromagnetic field that is caused by the maser, the energy release is perceived as a flash of light. Sure they leave traces of energy in the plants, commonly incorrectly interpreted as spiritual energies of some sort. I have been into this research myself when I was studying all that stuff for my graduation.
By the way, if indeed Aliens have been around for thousands of years, how come that only since a few years cropcircles have been reported ? Since a few years, however, we do have star wars satellites - made by us - orbiting planet Earth. Once again, crop circles are NOT made by
Aliens or UFOs, but simply by a maser satellite, programmed by a bunch of geeks. Keep it simple.
Mr. Jorge "George" Anthony Paniagua
615-A Jefferson Street
Stayton, Oregon 97383-1929
Back to top
Joined: 30 Jul 2005
Posted: Sun Jul 29, 2007 9:28 pm Post subject:
So are crop circles the work of hoaxers -- or aliens with too much time on their hands? Not very likely. Some crop circles may be created by Terra-based technology that incorporate gravity waves or other esoteric science.
Former aerospace engineer Brian Desborough, in his book, They Cast No Shadows: A collection of essays on the Illuminati, revisionist history and suppressed technologies (iUniverse) says that crop circles are in many cases due to Mossbauer Beam technology.
"Some UFO writers and lecturers who lack a scientific background claim that humans lack the technology to create such complex crop circles," he writes. "For the record, the basic crop circle characteristics outlined above are exactly the evidential signs that would remain if the crop circle were to be created by means of a low powered gamma ray beam device. Such technology was only implemented into widespread use by the military during the past two decades -- the same time period that elaborate crop circles first began to appear."
"The swollen nodes of grain stalks are of high moisture content; the high frequency gamma ray beam would cause the moisture in the nodes to convert to super heated steam, swelling and softening the nodal cells and causing the stalks to bend in the direction swept by the beam," he continues. "Such beams are capable of creating extremely fine detail; the high frequency clicking sound which is emitted from newly formed circles strongly suggests that the beam systems employed in this duplicitous act incorporate Mossbauer beam technology. The soil within the circle would emit radiation and any creature unfortunate enough to be irradiated by the beam would be carbonized."
Desborough's conclusion about crop circles remains the most logical explanation on the topic. He writes, "In order to add to the illusion that crop circles are the creation of a technologically superior race of extraterrestrials, the Mossbauer beam units probably are mounted in terrestrially manufactured flying saucers," echoing the conclusions of Bill Lyne, author of Pentagon Aliens: Flying Saucers Are Man Made Electrical Machines and Occult Ether Physics.|
|more than one Moon........
|spooky stuff in Suffolk.....
|Computing power aids alien hunters
|As you say we don't know how common intelligent life is, so the possibility exists that life is just too scattered to communicate. Of course we would probably be receiving transmission from them first since we have only evolved into the radio age during the last century, a mere instant.|
How rare is intelligent life?
No one knows precisely, we can only guess but we can make an intelligent guess. Research in recent years suggests that stars with planets are actually very common and the basic ingredients for life, that is oxygen, water, and hydrocarbons, are widespread throughout our galaxy.
There are approximately 100 billion stars in the Milky Way galaxy. The density of stars is about 3 per cubic light year.
Now, of the stars in the Milky Way, what proportion (if any) contain life?
Maybe it is 1 in 100.
Maybe it is 1 in 1,000.
Maybe it is 1 in 10,000.
Maybe it is 1 in 100,000.
No one knows, of course, but based on a rough knowledge of life and science a reasonable guess can be made.
Radio is now 107 years old (supposedly invented in 1895) so an intelligent civilisation about 100 light years away may now be hearing our first mutterings of voice over the radio. However, the use of radio did not become widespread until the 1920s. So let us say that an intelligent civilisation 80 light years away has now been able to listen into our primitive radio, but only an intelligent civilisation 40 light years away would have been able to listen into our primitive radio and deliver to us their reviews (via radio). How many stars have been able to post to us their reviews?
The answer is 804,248.
Every year that goes by another 60,000 plus stars can be added to this review list.
In 10 years time the number will rise to 1,145,111.
In 20 years time the number will rise to 1,570,796.
For those still alive in 50 years time the number will rise to 3,451,040.
So, even if only 1 in 100,000 stars contain intelligent civilisations, at least 8 could have responded to us by now and at least 15 could have responded to us in 20 years time.
The conclusion of this analysis, therefore, is that, if there really is other intelligent life out there, we could well be close to finding out about it.|