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Futures File

Sell in May and go away? There are many old trading saying. “Sell in May and go away” is one of the well-known ones referring to stock market investors who bail on stocks in the summer months, when returns tend to moderate, and reinvest in the fall. Of the three main stock indices, the Dow Jones took the biggest hit to the downside this past week. Front month Dow futures hit a high of 39,882 points last Friday and had seen a low of 38,111 points this past week as of Thursday’s close, which would constitute a 4.4% drop in less than a week’s time. A sizable one week move ...

Runnings purchases Home of Economy

MARSHALL, Minn. — The family-owned North Dakota company Home of Economy announced on Thursday that it has reached an agreement with the Minnesota-based retailer Runnings to purchase its eight North Dakota stores. “Home of Economy has been in business for 85 years, founded by my grandparents Bob and Jean Kiesau,” CEO Scott Peterson said in a release. “When we decided it was time to sell the company, it was vital to us that we found a partner who would carry on our legacy of providing every customer with the products and services they need at guaranteed lowest prices. We have ...

Futures File

Crazy Ivan Wheat futures have rallied in the last month, gaining $1.50/bushel (28%) in both the front month KC and Chicago wheat futures. In that same timeframe, there have been corrective dips of 4.5% or greater three separate times for the July KC wheat contract. April 29-May 1 was a three-day drop of $.41/bushel high to low, May 7-May 9 incurred a two-day price drop of $.325/bu high to low, and May 1-May 17 was a four-day drop of $.37/bushel high to low. Russian wheat troubles are at the core of this most recent rally, with both drought and cold snaps expected to reduce harvest ...

Dinner on the Prairie event recognized

Minot’s 2023 Dinner on the Prairie event was recognized as “Chamber Event of the Year” at the 2024 Mid-America Chamber Executives Conference held this month in Sioux Falls, South Dakota. More than 230 guests experienced the event on Aug. 1, 2023, which was made possible by the event co-chairs Fred Beuchler and Bonnie Scheresky, the Minot Area Chamber EDC Agribusiness Committee, volunteers and supporters. Mid-America Chamber Executives (MACE) is made up of chamber professionals who belong to their state chamber executive organization or state chamber of commerce in the six-state ...

Futures File

CPI offers small victory in stability Monthly Consumer Price Index (CPI) numbers were released Wednesday. April CPI rose 0.3% below estimates of 0.4% with annual CPI at 3.4%, down from 3.5% last month. Core CPI (all items less food and energy) rose the same 0.3% last month, bringing the annual Core CPI to 3.6%, down from 3.8% last month. Tracking inflation and interest rates is a turtle race most of the time that is best to let run for months on end before worrying about the leaderboard. Since May of last year, annual CPI has ranged from 3% to 4%. The good news is seeing stability ...

Building Permits

April Building Permits — Four Seasons Construction, 2405 23rd Ave. NW and 2301 Ivory St., single family houses with attached garages, each $153,537; 2305, 2317, 2313 and 2309 Ivory St., single family houses with attached garages, each $171,000; 2401, 2413 and 2420 Ivory St., single family houses with attached garages, each $155,697; 2401 23rd Ave NW and 2405 and 2409 Ivory St., single family houses with attached garages, each $154,791; 2417 and 2421 Ivory St., single family houses with attached garages, $154,792; 2501 Ivory St., single family house with attached garage, ...