Copper and gold - the leading lights of the base and precious metals arenas - are in what Lloyd-Smith puts as "history making mode", as both powered to record highs in early Monday trading

"Optimum conditions call for the transit of the M/V Dali to commence at high tide, predicted to be Monday at 5:24 a.m..." 

A cosmic practical joke on environmentalists

"We have seen these riots . . . If New Caledonia has an ongoing problem, then it is going..." 

Got, Brent? 

And beef herds have already collapsed...

"And then you have the military demand. So unprecedented demand growth against unprecedented weakness in supply..." 

 

Reduction in supply growth is coupled with “resilient” though slightly reduced year-over-year total demand in Q1...

"Another rough night..." 

This has pushed the Comex copper futures curve into massive backwardation...

"Something never seen previously."

"We're in a situation where we might actually run out of inventories completely."

 

A continuously fading war risk premium and signs that regional oil markets look well supplied prompted traders to slash last week their bullish bets on crude oil at the fastest pace in over a year.

"Have commodity prices past the trough?" 

Enjoy higher patty prices...

...diesel consumers should be reveling in the fact that market trends appear to have completely thrown out concerns about the Middle East conflict.

"Copper got funky on LME close, the …Copper we see arb positions driving  (short CMX/long LME basis producer hedges and other factors) and have seen big unwinds on this..." 

 

Are central bankers losing control of food inflation? 

Chaos in the bean market. 

" It now seems this is a new form of attack on Tesla Superchargers..."