I agree peak inflation has probably passed. Gasoline demand is below where it was at the same time in August 2020. If only the US had more refinery capacity.
https://www.yardeni.com/pub/gasoline.pdf
OPEC is nothing but a bunch of greed driven cheaters. They are all over pumping trying in an effort to sell as much as they can at the highest prices they can get. High oil prices cured the high oil price problem. Demand for gasoline dropped this summer.
Markets looked forward to wheat being allowed out of Odessa despite the Ukraine conflict.
China housing is going through a major bust with the people finally saying enough is enough and refusing to pay for properties that aren't even built yet. Glad to see we're below 2008 and 2010 bubble prices, but does the copper crash indicate recession?
Just wondering because I don't know the answer - With corn being used in higher amounts during summer months for ethanol, does gasoline demand affect corn prices?
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