20 years ago today, I worked my first shift as a commodity broker. It was 12 hours of "smiling and dialing". It was not glamorous and it definitely wasn't what I had envisioned for myself right out of college armed with two degrees with a Magna Cum Laude asterisk. It was hard; I was hung up on, yelled at, and I called people who had died but weren't removed from call registers. I learned to work smarter by generating my own prospective client leads. Eventually, I didn't have to make outgoing calls, people called me instead. I worked 12 hours per day and a few more on Saturday and Sunday for well over a decade without knowing if it would pay off. Don't be afraid to dream big and take risks. Life is for living. ππ₯Ήππ₯Ήππ₯Ήππ₯Ή
US-China joint statement after the Trump-Xi visit. Quite interesting that Beijing agreed to the following wording about the Strait of Hormuz.
Full statement here: https://t.co/NeqS3fJFqU
Strait of Hormuz flows are hovering at ~13-14 million barrels a day (7-day average). That's about the same as the brief peak in July. But with two notable difference: a) Iranian flows are zero (rather than ~2m b/d); b) all flows are fresh loadings, rather than pre-loaded tankers.
Hi Nic, it is good to hear from you :) These two markets have been settling in the same direction about 86% of the time over the last 60 trading days, so the correlation is currently highly positive. That isn't always the case, but it tends to be the case during inflation scares.
If you are trading corn, you are actually trading crude oil. The five-minute chart is highly correlated; both bottomed out this morning at the same time. #oil#cl $WTI #crudeoil#corn#ags#grains