Highlights
Lloyd's of London insurer, Ascot, is once again quoting cargo insurance for the Black Sea grain corridor, their lead underwriter said on Wednesday.
Unconfirmed report is China will relax its zero tolerance COVID policy beginning tomorrow. To what extent the relaxation will be was not stated. This is bullish crude oil, beans, bio fuels and thus corn.
Tidbits
As expected, yesterday the Federal Reserve raised the fed fund interest rate 75 basis points (3/4%) for the fourth consecutive month.
There is reliable evidence that North Korea is supplying Russia with artillery shells used in Ukraine. Yes, let’s spread the wealth around.
For two days, the “word” is Iran is prepared to launch missile strikes on United Arab Emirates and Saudi Arabia. Both are major crude oil producers.