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commodities: Some commodities have now wiped out all of their 2021 rally

Drought Expands in Iowa, Stressing Crops- as Soybean and Corn Prices Tumble • Farm Policy News

Investors Dump Commodities as Supercycle Call Meets Skepticism – gCaptain

By Andres Guerra Luz and Isis Almeida (Bloomberg) Net bullish wagers on rising commodity prices fell to the lowest since December last week, raising questions about the commodity supercycle. Money managers are trimming what had been the largest wager for rising commodity prices in at least a decade as stumbling economic reopening efforts force a reconsideration of the popular recovery trade. A recent bond rout raised worries over inflation and surging bulk shipping rates are seen capping any further upswing. There’s a sense that “we have yet to get rid of the coronavirus, with rising cases and extended lockdowns delaying the expected growth sprint,” said Ole Hansen, head of commodities research at Saxo Bank. “The surge in Treasury yields, a stronger dollar and worries that China may tighten liquidity in order to curb inflation are also contributing factors.”

finance Archives – gCaptain

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Sugar High On Wall Street As White-Sugar Futures Climb On Container Shipping Worries – gCaptain

Share this article By Marvin G Perez and Manisha Jha (Bloomberg) White-sugar spreads climbed to a record high as a shipping container shortage increased demand for supplies delivered through the exchange. The March contract’s premium over May futures rose to $23.50 a ton, the highest since the spread began in 2019. The March over May premium also jumped for raw sweetener in New York. Shipping rates have risen due to a shortage of containers and demand to stockpile commodities amid the Covid-19 pandemic. The container shortage “is resulting in a higher demand for the white contract structure,” because the exchange uses a delivery method called break-bulk, which is cheaper, said Carlos Mera, an analyst at Rabobank International in London.