Hey Trader, Today, we have another round of trading news and information from our top analysts here at Traders Agency. And of course, our Trade of the Day. |
Stocks: US stocks wobbled throughout the trading day as the indexes moved up and down, in and out of positive and negative territory. The Dow Jones outperformed while tech stocks lagged, leading to a softer Nasdaq and S&P. The leading cause was conflicting statements from Fed leaders on monetary policy. Bonds: US bonds, led by Treasury issues, rose in yield, fell in price from last week’s positive market moves. Like for stocks, bond traders are also reacting to conflicting statements on rate policy from Fed leaders. Commodities: US commodity prices are largely lower after last week’s mixed to positive movements. However, supply and demand conditions continue to support higher prices for agricultural and other commodity goods Digital Currencies: Digital currency prices are relatively neutral despite the continued and expanding drama surrounding FTX’s bankruptcy and recent and current operational troubles for individual and institutional clients and counterparties. Data Check: Tomorrow brings US wholesale inflation data with the Producer Price Index (PPI) from the Bureau of Labor Statistics (BLS). And look for retailers’ earnings, including from Walmart (WMT), Home Depot (HD) and Ross (ROST) as well as overall US retail sales from the US Census Bureau. Before we get to our Trade of the Day, head on over to the Traders Agency YouTube channel for breaking market news, live trading sessions, educational videos and much, much more! Click here now to subscribe! |
Gladstone Land Corporation Beyond stocks, we here at Traders Agency also watch activity in many of the leading futures contracts. This includes agricultural futures and spot prices for agricultural goods. And over the past months, many of the major agricultural goods in the US, including corn, wheat and soybeans, have resumed higher trading prices. What we have also been keeping an eye on, including first hand in the Midwest, are the price gains in major farm land in the US. Over the trailing year, the US Department of Agriculture (USDA) reports that land prices are up by over 18% with some local farmland jumping up even higher. This trailing year is one of the biggest gainers for land in decades. Prices are gaining with higher prices for major crops, including those mentioned above, but it’s also being driven by property developers grabbing land including for new homes. Farmland and farming for industrial and institutional owners are also supported by massive state and Federal subsidies and tax credits that, according to USDA data, make up nearly 40% of farm income. This is also adding to demand for farms, including from investment companies and private equity. This data and market observance (including first hand) brings up an intermediate-focused trade idea with farmland. And looking and researching farmland real estate investment trusts (REITs), one of the better opportunities is in Gladstone Land Corporation (LAND). This REIT owns over 130 farms nearing 114,000 acres in 15 states. And its current income for the trailing year from property operations and more is up by over 32%, with operating margins running at a fat 42%. And with farm property price gains, look for book value and eventually stock prices to gain as well. The stock is down for the year but recently has been edging higher again. This is largely due to overall market concerns over REITs and some sensitivity risk to rising interest rates. But as noted above, their underlying assets, including for Gladstone, are up big as well as for its operating margin growth. This is setting up the stock as not just a bargain but one with price gains potentially in the works, which makes Gladstone Land Corporation a compelling Trade of the Day.
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Gladstone Land Corporation Price -- Source: TradingView |
With the current price at $20.38, LAND is a buy under $22.00 with a near-term target of $28.00 and even more beyond that. And for safety, consider a stop at $16.89. Now, on to the best of Traders Agency… |
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Thank you for reading Beyond The Trade! Look for much, much more every day the markets are open. You’ll get further updates on all that is going on to make your job as a trader all the more profitable and better informed. I’ll also continue to provide updates on the stock ideas I bring to you in Beyond The Trade. To provide feedback, suggestions and questions, feel free to email me directly at neilgeorge@tradersagency.com. Your friends, Beyond The Trade |
Copy of Anthony Social Media 3 column snippetAnthony is our star trader and expert analyst in the energy and commodities futures markets. He also trades the stock and options markets with his own unique twist. |
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