Today’s Call: July Corn Price Per Bushel to rise. Currently $7.85-4.
Rationale: USDA Report released today revealed the expected corn surplus to be 23% less than already low expectations. This will cause tremendous price pressure up and down the food chain. Corn is to food production what oil is to manufacturing. As such, we have decided to add it to our Key indicators.
Result of Call for June 6, 2011: Bank of America (BAC) to rise. Was $10.83, Currently $10.65. Bad Call.
Calls to Date: Good Calls: 27, Bad Calls: 19, Batting .587
Key Indicators for Thursday, June 9, 2011
Copper Price per Lb: $4.09
Oil Price per Barrel: $101.86
Corn Price per Bushel: $7.85
10 Yr US Treasury Bond: 3.00%
FED Target Rate: 0.09% FED STILL IN DESPERATION MODE
MINT Perceived Target Rate*: 2.25%
Unemployment Rate: 9.1%
Inflation Rate (CPI): 0.4%
Dow Jones Industrial Average: 12,124
M1 Monetary Base: $2,022,700,000,000 RED ALERT!!!
M2 Monetary Base: $9,005,800,000,000 STARTING TO DRY UP? NOT
*See FED Perceived Economic Effect Rate Chart at bottom of blog. This rate is the FED Target rate with a 39 month lag, representing the time it takes for the FED Target rate changes to affect the real economy. This is a 39 months head start that the FED member banks have on the rest of us on using the new money that is created.