Another day, another run in commodities

Another day, another run in commodities

A quick sampling from today’s commodity markets:

  • Wheat +2.2%
  • Corn +2.0%
  • Nickel +1.6%
  • Aluminum +1.6%
  • Natural gas +0.8%
  • Copper +0.5%
  • Palladium down now but hit a record at just shy of $3000/oz earlier today

Bank of America put this in a note today:

“The number of mentions of ‘inflation’ during earnings calls also rose sharply, more than tripling YoY per company so far, the biggest jump in our history since 2004… many plan to (or already did) raise prices to pass through higher costs”

The story that’s not written about right now isn’t the input prices, commodities or worker shortages; it’s the ability (seemingly with ease) of companies to pass on price increases, even in the service sector.

h/t @FerroTV

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