The Livestock and Meats sub-index of the Continuous Commodity Index collapsed 36% between the beginning of the year and its worst point on April 3. This rout has caused our composite momentum indicator, which includes the 13-week…
These general themes - along with our assessment that markets were overestimating downside price risk and underestimating upside risks arising from supply destruction and geopolitical instability - supported the best-performing…
The wide WTI - Brent differentials at the front of these respective curves will continue to incentivize crude-oil exports from the U.S. to European refiners, who tend to favor the light-sweet crude coming out of LTO plays.