Monday I listened to an FRA podcast with Trade Ferg.

https://youtu.be/wfhcBVnHizs

Apologies for the Video quality on this one but he had some interesting ideas.

I’ve attached Coal and Ferg is particularly interested in Coking coal which I couldn’t find a good chart on.

Meanwhile the hard asset trade continues to heat up.

Kevin Patick, a preeminent Water Attorney has been writing of last about Water shortages out west.

His writing would lead one to believe that the Grains have yet to start rallying.

Between the costs of Fuel, fertilizer shortages, plus water scarcity is a recipe for Beans in the teens this summer.