Crude Oil Futures Plunge 13% as Stocks Rally to Record Highs & the Strait of Hormuz!

[errolanderson]

Is this the starting blocks of a summer grain market bull run?

War stupidity, urea price craziness, reduced yields and global drought concerns in some key regions now all setting-the-stage . . . .

errolanderson.substack.com

[poorboy]

Wow Errol I do not think I have ever seen you post a bullish comment on the market. You are bearish almost all the time. Quite exciting to read. I hope you are correct and the bull market is starting. Even without the Iran deal, there has been no real good reason for grains to be this low with as much currency as every nation has printed over the last few years.

[TechAnalyst]

This $hitstorm to continue , Trump really kicked a hornets nest and not going away anytime soon. I’m not in a huge hurry to liquidate my oil stocks yet, might even consider adding to them on Monday to balance my fuel purchases.

I agree - and when you kick a hornet’s nest, they have a say in when they go back in.

Iran does two things - they pump oil and they fight wars. Trump wants a quick resolution and to win. All Iran will want to do is outlast him.

That suggests a blocked Strait of Hormuz past the “too late” stage for fertilizer and fuel shipments.

I also strongly agree with Errol. Most grain and oilseed prices below pre-war levels are underestimating the risks that lie ahead, especially with El Niño and Australian issues.

[Old Cowzilla]

What if we all go to a Bass Pro Fishing Shop and buy up all the outboard motors ?Must be fun trying to aim in choppy waters. Maybe Canada has a bigger maritine fleet than I thought . -10c again this morning and ground is white and airdrill is still sitting in snow bank.