In no particular order, here are my favorite TEN of 2023…
#10 | 2023’s Winners & Losers
I will spare everyone the pain and skip over a long-winded paragraph detailing grain & oilseed losses during 2023.
Here is a recap of commodities’ biggest winners and losers though:
Plenty of records were broken in 2023, including all-time high prices in gold, cocoa and olive oil.
We also saw record high US natural gas and petroleum production as well as exports, plus record-high coal usage in both China and India. #goingreen…
#9 | Currency Matters
Nearby bean futures in Brazilian real started the year near 80 (all time highs for the start of a year) but finished at a four-year low as the real rallied 9% versus the dollar in 2023.
Nearby futures were down $2.25 this past year, but futures losses grew to $3.60 per bushel in prices paid to the Brazilian farmer because of the real’s appreciation vs the DXY.
Another strong performer was the Mexican peso, gaining nearly 15% vs the US dollar in 2023.
Keep reading with a 7-day free trial
Subscribe to No Bull to keep reading this post and get 7 days of free access to the full post archives.