Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. 

If you back out Oil (like the Biden Econ guys), Agriculture Commodity Inflation ramped to new #Quad2 in Q4 Cycle Highs yesterday. Wheat is inflating to new Q4 highs again this morning and Lumber has inflated +38% in a week!

‘Oh, but Mucker, if you back out your homeland’s supply shock/bottleneck news in BC, Lumber isn’t inflating.’

Yep, got it. But where’s that unique intellectual thought in my P&L this morning? Last I checked, no money manager gets paid for having good SAT scores. It’s always about putting de alpha pucks in de net, eh.

CHART OF THE DAY: Agricultural Commodity Inflation Ramps Up - nh7