bearish
El Nino is here // River Rhine is drying up again // Managers are net short commodities
SUMMARY
- El Nino is here (like we forecasted) S&P Global highlighted some facts regarding the effects of the weather phenomenon on crop yields.
- I found the following chart about soybean yields quite interesting and also important going forward.
- Makes one think how sustainable last week’s price surge in beans actually is!!! El Nino tends to be good for soybean yields in Argentina and Brazil but also in the US.
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