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Morning Rage 8.21.2012

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The Hang Seng ended flat today as gains were offsets by a loss from oil giant CNOOC, whose first half
profit fell double what the market expected. Food and Beverage corp Tingyi, jumped six percent, its best
day in almost 10 months, with a better than expected first half profit. Deutsche Bank upgraded the stock
to buy from hold and increase their target price 16%. China Resources Power slipped 0.7% today after a
near 2 year closing high yesterday due to first half results. They are up almost 14% so far this year.

The FTSEurofirst is currently up .5% after losing .5% yesterday, redeeming itself to even currently this
week. Hopes are coming from Greek Prime minister meeting with the German Chancellor, French
President and the Eurogroup Chief to try to secure more funding from the EU and ECB. For second
quarter earnings nearly 90% of European companies have now reported with 51% missing expectations
as year on year Q2 growth has contracted 11.2% according to Thomson Reuters data. Around Europe
the Dax, CAC and Madrid General are up 0.4%, 0.6% and 0.5% respectively.

Nike intends on raising shoe prices due to rising labor and material costs coming out of China.

Citigroup issues credits card in China without the help of co-branding with a domestic financial institute
becoming the first western bank to do so looking to exploit the ease of regulations in the country.

Commodities are looking strong today with crude, gold, natural gas and silver all set to begin above.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu

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Weekly Grains Update 8.20.2012

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Earlier in the month, the USDA released a report that corn yields would fall to 6 year lows of 10.78 billion bushels. Now markets are taking time to adjust to the new supply. Although the corn crop yield is considered relatively difficult to heal, there is still some hope for the soybean crop. Soybean yields in late-planted areas could improve if rain sweeps across the U.S.

I am looking to go long spreads in corn, and putting slightly more conservative plays in soybeans as the crop is more likely to heal.

This morning corn futures were trading up 1.13% to $8.0740, soybeans were up .97% to $16.8720 and Wheat was trading down .21% to $8.7260.

Corn 8.20.2012

David Cornes holds a degree in economics from the University of Montana.

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Morning Rage 8.20.2012

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The Hang Seng went the opposite direction losing 0.1% after a Chinese newspaper reported cuts in the
reserve requirement for commercial lenders were unlikely. Smaller banks were a hard hit sector today,
China Merchants Bank Co, which posted a 25.7 rise in first half net profits, slid 1.4% today. Corporate
earnings are to be a focus the rest of the month. Chinese instant noodle company Tingyi, jumped 5% to
close at its highest since May 4, with optimism that cost control will improve margins for the rest of the
year. China Pacific Insurance group was also among the losers dropping 1.2% today, after reporting a
55% fall in net first half profits.

The FTSEurofirst managed small gains today gaining 0.1% to keep its rally alive. The Spanish debt sale
tomorrow will be a crucial test with focus on the 10-year bond yields. Eurozone banks led the market
today with Banco Popolare gaining 6.2% and Societe Generale adding 1.3%. Deutsche was among those
not following the lead, down .6%, as the New York Times reported US prosecutors are investigating
them among several other banks on dealings with Iran and other sanctioned countries. September 6 th is
the next big coming date, as it is the next policy meeting.

Commodities are set to begin mixed as crude and gold begin down and silver and natural gas are set in
the green.

Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu