From the desk of Steven Strazza @Sstrazza and Ian Culley @Ianculley
Commodities are on fire!
Crude oil is trading above 90, its derivatives are printing fresh highs, and natural gas is beginning to rip – again.
But, as we’ve pointed out in recent posts, it’s not just energy that’s working. We’re seeing broad strength in commodity markets.
Soybean oil is marching higher along with the rest of the bean complex, and corn hit our initial upside objective earlier this week.
Today, we’re going to outline another ag contract that’s setting up for its next leg higher: coffee.