No one is buying Wheat

Wheat is at an all-time low.

In the chart below I circled the buying frenzy when #Russia invaded #Ukraine and the whole wold became experts on #wheat shipments out of Odessa.

This was supplemented with pundit commentary that the world was facing a calorie shortage.

Today, wheat is nearing an oversold extreme and no one is talking about it.

Is being ‘Gluten Free’ the new Electric Vehicles dictum?

The 2nd derivative is that food companies now have cheaper inputs.

I wish Barilla #pasta was publicly listed.

Its good for the importers, bad for the exporters.

Good for the processors, bad for the growers.

March 17, 2024

by Rob Zdravevski

Karri Asset Advisors

rob@karriasset.com.au