Markets? Sideways looking for direction.

[Landdownunder]

Appears shipping corridor arrangements in Black Sea about to be signed. Pull back.
Situation heading to nil all draw almost. A Vietnam scenario for Putin perhaps?

Lots of weather happening in northern hemisphere.

Bit of currency movement.

Bit of a lull on bullish side and bearish side it seems

Whole commodity sector quite just energy grinding slowly lower

[Hamloc]

Appears shipping corridor arrangements in Black Sea about to be signed. Pull back.
Situation heading to nil all draw almost. A Vietnam scenario for Putin perhaps?

Lots of weather happening in northern hemisphere.

Bit of currency movement.

Bit of a lull on bullish side and bearish side it seems

Whole commodity sector quite just energy grinding slowly lower

Looking at the wheat market it has lost about 1/3 of it’s value since the first of June. Russia and Ukraine signing a deal today to resume exports won’t increase bullish sentiment in the near term.

[Landdownunder]

Ain’t that the truth

[Austrian Economics]

Commodity prices are beginning to price in the high likelihood of a recession. Probably a severe one, so this trend will pick up speed in the coming months.

Reversal will not happen until central banks throw in the towel and drop interest rates back to zero.