Food inflation is sticky...

17 million egg-laying hens and younger birds known as pullets had been culled since mid-October.

"I told the European Union that they must make up their tremendous deficit..." 

"The email, sent to TradeWinds by an events manager for the Humanitarian Operations Coordination Center (HOCC), is raising eyebrows across the shipping community." 

In October, China bought 55 tonnes in the London OTC market, which is striking since the official number reported by the PBOC was one-tenth that, or just 5 tonnes.

"In the name of what? Because you don't like the Russians? Fine, I like them."

"The Houthis may have wound down their Red Sea disruptions for now, but let's see how long it takes..." 

"Cocoa prices are positioned for significant upside driven by structural supply deficits, under-hedged..." 

Money managers boosted bullish live cattle bets by 3,908 net-long positions...

"Many of these minerals have military applications..."

...the commodity trading giant recorded a loss of $1.1 billion related to serious misconduct by individuals in its Mongolian oil business.

"Two Russian tankers carrying fuel oil - Volgoneft-212 and Volgoneft-239 - are sinking in the Kerch Strait." 

In 2021, Goldman Sachs declared copper "the new oil", highlighting its essential role in clean energy technologies...

Squeezed.

... lithium mines in Africa owned by Chinese battery makers are not reducing supply. 

The world’s consumption and exports of thermal coal are expected to rise this year from 2023 to hit fresh record highs again...

"Our fate's pretty well determined in the cattle industry in the U.S. for the next two to four years" – and it's not looking good."

"We are currently experiencing a strong fundamental phase..."

"The spread between March and April natural gas futures flipped last week... "

"It has to be fat... no gaps at the top or the bottom..."