bearish
The Commodity Report #88
SUMMARY
- The general market consensus going into the new year was that commodity prices would continue to correct.
- We also positioned ourselves in this camp, as we predicted the turnaround story a few months later.
- While some commodities such as wheat or natural gas (both commodities that had been priced in a risk bonus for a long time due to the Ukraine war) fell sharply, other commodities such as corn, soybeans, orange juice, or soybean meal remain not far from their highs.
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