- The world is not running out of wheat. I can't stress that enough, despite all the headlines to the contrary.
- OPEC+ will continue to extend production cuts, particularly with the next round of US elections on the horizon.
- The lower close by US stock indexes was not a case of the economy collapsing, but rather a simple seasonal move.
When we turned the calendar page from August to September late last week, a number of things changed: The Northern Hemisphere moved from meteorological summer to fall while south of the equator moved from winter to spring meaning the next planting season is just around the corner. The mindset here in the US also switched from growing season to harvest, despite the fact combines were already running in some areas. Some things that didn’t change, though, were tired news stories that either didn’t warrant much discussion in the first place or have been proven irrelevant for months on end.
