Risk, Risk, and Risk Twice in the last few days I have been asked what I see in the market at the macro level. In both instances, I have replied that I see politics everywhere and that this poses a significant risk to commodities players. We live in an era where political narratives are predominant and one need only glance at the commodities page on Reuters to verify this – gone are stories about the fundamentals of supply and demand replaced by narrative supporting stories of climate, weather, floods, droughts and so on. Its why we reproduce less Reuters news on CTRMCenter these days as for me, Reuters no longer writes news but promotes political narratives. In recent weeks, we have written about the BRICS clearing solution and how this represents a huge risk. In the last article, we reproduced a video in which it was demonstrated that these risks are already extant and happening as China had managed to replace US grain with grain at probably lower prices and from different locations – we do not know for sure because these trades were not processed through the usual channels denying us information about source and price. This will occur… continue reading