Spready - The Story Behind

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Co je Live Cattle

Back 1

Live Cattle refers to cattle industrially-raised for beef production from the calf stage until they reach between 600 to 800 pounds. At this point, they are considered Feeder Cattle and are taken to feedlots to continue the fattening process.

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Live Cattle - Cenové dno

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červen, červenec, srpen - nejvíce dobytka vykrmeno, nejvíce porážek

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Live Cattle - Cenový vrchol

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listopad, prosinec, leden - málo porážek, dobytek se teprve vykrmuje

Front 4

Live Cattle - Jak na ně

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Od března do června se nakupují vzdálené spready a prodávají bližší(např. prosinec, červen spread)
Od července do prosince se nakupují bližší a prodávají vzdálenější(valná většina)

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Co je Feeder Cattle

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are steers (castrated males) or heifers (females) mature enough to be placed in a feedlot where they will be fattened prior to slaughter

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Feeder Cattle - Cenový vrchol

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březen, duben, květen - nejvíce dobytka vykrmeno, nejvíce porážek

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Feeder Cattle - Cenové dno

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červenec, srpen - málo porážek, dobytek se teprve vykrmuje

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Feeder Cattle - Jak na ně

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Březen, červen a srpen se nakupují bližš a prodávají vzdálenější
nakupují se měsíce, které se budou prodávat, když jsou v cash trhu/aktuální

Front 9

Co je Lean Hogs

Back 9

Vepřové půlky

Front 10

Lean Hogs - Cenové dno

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listopad, prosinec, leden

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Lean Hogs - Jak na ně

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Březen, červen a srpen se nakupují bližší a prodávají vzdálenější
Kontraktní měsíce, kdy je porážka nejnižší(cena je nejvyšší) překonávají měsíce, kdy se poráží nejvíce

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Lean Hogs - Cenový vrchol

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květen, červen, červenec - málo porážek, dobytek se teprve vykrmuje

Front 13

Co je Crude Oil

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is a naturally occurring flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface.
Surovina pro výrobu především benzínu a topného oleje
Bližší měsíce bývají dražší než vzdálenější. Fungují bull spready - kupuju bližší, prodávám vzdálenější
Především v době, kdy rafinérie vytváří zásoby před sezónou - na topný olej

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Crude oil - Cenový vrchol

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stoupání začíná v dubnu, květnu, kdy rafinérie začínají vytvářet zásoby na sezónu
Vrcholí od července do října

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Crude oil - Cenové dno

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v zimních měsících
v říjnu začne být poptávka po ropě vyčerpaná a cena začne klesat

Front 16

Co je Heating oil

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Surovina pro výrobu kerosinu, tryskového paliva, dieselu a samozřejmě topného oleje
Heating oil consists of a mixture of petroleum-derived hydrocarbons in the 14- to 20-carbon atom range. During oil refining, it condenses at between 250 and 350 °C (482 and 662 °F). Heating oil condenses at a lower temperature than the heavy (C20+) hydrocarbons such as petroleum jelly, bitumen, candle wax, and lubricating oil, which condense between 340–400 °C (644–752 °F). But it condenses at a higher temperature than kerosene, which condenses between 160–250 °C (320–482 °F).

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Heating oil - Cenové dno

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Poklesá v zimních měsících, dno má na jaře, začátku léta

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Heating oil - Cenový vrchol

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od září do listopadu - zpracovatelé vytvářejí zásoby na topnou sezonu

Front 19

Crude oil - Jak na ně

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Funguje nákup bližších a prodej vzdálenějších měsíců
v létě nakupovat říjnový/listopadový/prosincový kontrakt a prodávat dubnový, spread začne nejvíce "zabírat" ke konci expirace, září, říjen
na začátku nového roku se pak dá koupit březen jako první měsíc, kdy se zvyšuje poptávka a prodat září

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Heating oil - jak na ně

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7., 8. měsíc se nakupují listopad, říjen a prosinec a prodávají duben, červen
V prosinci pak březen a prodává se září

Front 21

Cotton - co je

Back 21

Cotton is a soft, fluffy staple fiber that grows in a boll, or protective capsule, around the seeds of cotton plants of the genus Gossypium. The fiber is almost pure cellulose. Under natural condition, the cotton balls will tend to increase the dispersion of the seeds.
The area of the United States known as the South Plains is the largest contiguous cotton-growing region in the world.

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Cotton - cenový vrchol

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v květnu, červnu, červenci

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Cotton - cenové dno

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říjen - leden

Front 24

Cotton - jak na ně

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Funguje vzdálenější měsíc nákup, prodej bližší. Řijen je bastard, nebrat.

Front 25

Co je Sugar Beet

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Sugar beet (Beta vulgaris) is an annual plant in the Family Amaranthaceae, the tuberous root of which contains a high proportion of sucrose. It is cultivated in temperate regions with adequate rainfall and requires a fertile soil. The crop is harvested mechanically in the autumn and the crown of leaves and excess soil removed. The roots do not deteriorate rapidly and may be left in a clamp in the field for some weeks before being transported to the processing plant. Here the crop is washed and sliced and the sugar extracted by diffusion. Milk of lime is added to the raw juice and carbonatated in a number of stages in order to purify it. Water is evaporated by boiling the syrup under a vacuum. The syrup is then cooled and seeded with sugar crystals. The white sugar which crystallizes out can be separated in a centrifuge and dried. It requires no further refining.

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Co je Sugar Cane

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Sugarcane is a perennial grass in the family Poaceae. It is cultivated in tropical and sub-tropical regions for the sucrose that is found in its stems. It requires a frost-free climate with sufficient rainfall during the growing season to make full use of the plant's great growth potential. The crop is harvested mechanically or by hand, chopped into lengths and conveyed rapidly to the processing plant. Here it is either milled and the juice extracted with water or the sugar is extracted by diffusion. The juice is then clarified with lime and heated to kill enzymes. The resulting thin syrup is concentrated in a series of evaporators after which further water is removed by evaporation in vacuum containers. The resulting supersaturated solution is seeded with sugar crystals and the sugar crystallizes out, is separated from the fluid and dried. Molasses is a by-product of the process and the fiber from the stems, known as bagasse, is burned to provide energy for the sugar extraction process. The crystals of raw sugar have a sticky brown coating and can either be used as they are or can be bleached by sulphur dioxide or treated in a carbonatation process to produce a whiter product.

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Sugar - producing countries

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The five largest producers of sugar in 2011 were Brazil, India, the European Union, China and Thailand. In the same year, the largest exporter of sugar was Brazil, distantly followed by Thailand, Australia and India. The largest importers were the European Union, United States and Indonesia. Currently, Brazil has the highest per capita consumption of sugar, followed by Australia, Thailand and the European Union

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Sugar - cenové dno

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Front 29

Sugar - cenový vrchol

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Front 30

Old- and new-crop corn

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As any crop marketing year winds down, physical supplies decline to their tightest of the year. But then all of a sudden comes the harvest glut. Within the span of just a few weeks, the market goes from the least supply in a year to the most. producers must decide when to sell any remaining old-crop supply and consumers must decide whether to accelerate or delay purchases.
Spreads function as a price mechanism to help smooth out the transition. When old-crop supply is large and new-crop prospects poor, for example, the market will price old-crop at a sharp discount to new- in order to encourage greater and more immediate consumption and to discourage delayed consumption. In contrast, when old-crop supply is tight and new-crop prospects good, the market will price old-crop at a premium in order to reduce and to discourage immediate consumption and to encourage delayed consumption and to help pay for storage.

Front 31

Co je COT

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The Commitments of Traders (COT) reports provide a breakdown of each Tuesday's open interest for markets in which 20 or more traders hold positions equal to or above the reporting levels established by the CFTC. Commitments of Traders (COT) charts are updated each Friday at 3pm CST.

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Kdo je reportován v COT?

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The Commitments of Traders Report is split into three groups:

Commercials, consisting of Producer/Merchant/Processor/User and Swap Dealers (Red Line)
Non-Commercials or Large Speculators, consisting of Managed Money and Other Reportables (Green Line)
Small Speculators (Blue Line)