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Oil hits $80 as markets begin to price in tighter supply and geopolitical concerns. Food inflation shock is on the way as Corn, Rice and Wheat futures are all bid (supported) above May 2021 highs.

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A commodity snapshot: Corn, Lean Hog and the oil price from September 2022 to March 2023. Prices have not come down and remain bid and appear less volatile. A 2023 rally cannot be ruled out

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The price of Wheat (futures market) has spiked on the back of Putin's all out war and airstrikes on all of Ukraine, mixed with drought conditions re: North America.

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