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Re: Macro Commodity Chartpack, 5/25/23.

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KAOBOY MUSINGS and its associated podcast KAOS THEORY focus on the intersection of Financial Markets, Macroeconomics and Geopolitics. I've spent 30+ years as a trader/hedge fund manager and now manage money for my family office across many asset classes.
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Re: Macro Commodity Chartpack, 5/25/23.

In honor of my GSCI roots and what I had to do every Sunday night as a junior trader at 22, I give you a quick visual tour of the major commodity groups to assess the current picture of macro health.

Michael Kao
May 25, 2023
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Re: Macro Commodity Chartpack, 5/25/23.

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In honor of my Goldman Sachs Commodity Index (GSCI) trading roots and what I had to do every Sunday night as a junior trader at 22, I give you a quick visual tour of the major commodity groups to assess the current picture of macro health.

At the time (early 90’s), I had to arb 22-24 underlying commodities against all of our GSCI-linked products. Although index composition has changed and there are other important benchmarks to look at now, I’m going to mainly hew to the original index constituents.

Kaoboy Musings is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Outside of a couple anomalous situations, most procyclical commodities are not reflecting a robust picture of global demand!

Energy:

WTI Crude Oil, NYMEX:

Brent Crude Oil, ICE:

Nat Gas (Henry Hub), NYMEX:

Nat Gas (TTF), ICE :

Gasoil, ICE:

Gasoline (RBOB), NYMEX:

Heating Oil, NYMEX:


Grains:

Corn, CBOT:

Wheat, CBOT:

Soybeans, CBOT:


Softs:

Sugar, ICE:

Cotton, ICE:

Coffee, ICE:

Cocoa, ICE:


Meats:

Live Cattle, CME:

Live Hogs, CME:


Precious Metals:

Gold, COMEX:

Silver, COMEX:


Base Metals:

Copper, COMEX:

Aluminum, COMEX:

Kaoboy Musings is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

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Re: Macro Commodity Chartpack, 5/25/23.

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Re: Macro Commodity Chartpack, 5/25/23.

www.urbankaoboy.com
derek
May 27Liked by Michael Kao

Excellent as always. Thanks Michael.

Hey, did you happen to listen to this pod with Luke Gromen? Love to hear your thoughts on first 15 minutes or so.

I can’t think of anybody better than you who could find the weak points in his arguments.

Have a great weekend!

https://podcasts.apple.com/us/podcast/on-the-margin/id1558223079?i=1000614293150

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Moejwatson
May 27

Major global deflationary collapse incoming as the Black Hole of AI engulfs all inputs previously necessary for existence

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