CHART OF THE DAY: Agricultural Commodity Inflation Ramps Up

11/19/21 08:07AM EST

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

© 2022 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.