Commodity investors are back in full force, with record wagers that crops, metals and oil are set for a rally.
Data points:
- weakening dollar
- world on path to recover from pandemic
- precedent? China-driven commodities super-cycle earlier this century
- China is on a buying spree again
- China is loading up on American crops
- China has already bought a record amount of grain
- soybean purchases are running at the fastest pace since 1991
- central bank stimulus around the world
- worldwide increased fiscal spending on infrastructure
- [mutual?] funds are the most bullish in at least a decade on 19 commodities
- money managers' bullish bets on corn are at the highest in almost ten years
- Alvean: world's largest trader of sugar, forecasts sugar shortages for next two years
- crude oil surging in price
- gold prices rose to a 16-week high
- silver: net-long positions rose for the fifth time in the last six weeks
- platinum net-longs are the highest since February, 2020
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