10 HOT Nuggets
10 | Guess the chart
Up more than 26% from its mid-September lows, making a new all-time high today:
Answer (and reason it is important to commodities can be found in today’s #1)
9 | Commodities vs. Equities
50+ years of commodities vs. equities in one chart:
Notable events of the past 50+ years:
1971 | Abandonment of the gold standard left its value skyrocketing until 1980
1973-74 | OPEC’s oil embargo against the U.S. during Arab-Israeli War more-than-doubled oil prices
1990 | Gulf War disrupted oil production and supply
2000 | Tech bubble led investors to shift to commodities, surging markets
2008 | Commodities at all-time highs amid emerging market growth, followed by a sharp decline during the Global Financial Crisis
2020 | COVID-19 Pandemic lockdowns slashed commodity demand. Central banks and governments flooded markets with stimulus
8 | Winners & Losers
Taking a closer look at year-to-date performance of select markets:
(as of 10/01)
7 | Losers & an even bigger loser
Soy products have outperformed beans thus far in 2024:
Year-to-date managed money positions in the soy complex:
6 | Winning
What happens when soy products out-perform the beans they are made from?
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