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Oil collapsed through its price supports on recession fears via the 2yr and 10yr yield curve inverted. Slightly bid above the $100 Putin 'Put'. Geopolitical and supply issues loom.'

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Wheat futures from March 2021 to June 2022. Showing June harvests and its price correlation. Note the sell off in June 2022 as funds covered short positions. Price remains bid on Russian blockades of Ukrainian wheat exports.

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Oil price to resume its ascent, closing in on $113 a barrel. Now an inflation hedge, while Russia continues to fuel its invasion, China hordes and OPEC doesn't increase output.

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