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Wheat Futures Surge After Russia Strikes Ukrainian Grain Terminal; Summer Cold Sweeps East Asia; + Markets Should Brace For “Fire” And “Ice,” Says Morgan Stanley Executive: “Recession and Paradigm Shift” Inbound

Wheat Futures Surge After Russia Strikes Ukrainian Grain Terminal

From bad to worse: Global grain markets surged higher Monday after a Russian attack on silos at the Black Sea port of Mykolaiv raised further doubts that Moscow will allow the export of Ukrainian crops.

“Traders are losing confidence Russia will live up to their expectations to allow Ukraine to export grain, after two warehouses with sunflower meal at Nikatera (Ukraine) were hit by a rocket over the weekend,”  Terry Reilly, senior grain and oilseed commodity analyst at Futures International, told Agricensus.

The Russian shelling of Mykolaiv is “putting the lie to the Russians about allowing grain to be exported out of Ukraine through the Black Sea — if you don’t have a loading terminal, you can’t load any ships,” said Charlie Sernatinger of ED&F Man. 

While in France –the world’s sixth largest wheat producer– drought has led to concerns about the size of the country’s wheat crop. Also, centra; regions of France were hit by “a major hail storm … with tennis-ball-sized hail falling on the wheat fields and vegetables, with bad damage suspected to the crop,” continued Sernatinger.

“Today [Monday] is a holiday in France, so the cooperatives are not making any statements on the damage, but commercials feel like it was substantial, pushing up Matif futures and US futures are responding,” said Sernatinger.

Slow planting across much of North America due to persistent cold is only inflaming global food insecutrity concerns.

It’s a similar story in South America, too.

And China.

And India.

And Pakistan.

So that’s the top 8 global wheat producers all experiencing serious growing woes this season.

It stands that almost everywhere you look, if it isn’t the weather reducing yields then it’s us humans shooting ourselves in the foot via conflict and/or food/energy nationalism. This ends in famine. Perhaps not for every Western nation, but certainly for most import nations, top of the list being Indonesia, Egypt, Turkey, and perhaps even China–which would explain the Chinese regime buying-up what seems like every available bushel on the market right now. Take heed. A years food supply is a must.

A quick word on energy shortages: Shippers coping with record-high fuel surcharges have been advised to simply bear with it until more (and cheaper) crude oil enters the markets–which isn’t expected until 2023 at the earliest.

“The price of fuel has a big impact on the shipping and shipping logistics industries,” Ross Harris, CEO at A3 Freight Payment, said recently. “As costs continue to rise, carriers are having to take losses or raise their shipping prices … Simply stated, higher fuel costs cause product inflation and affect every aspect of production transportation along the way,” added Harris.

The Energy Department’s most recent data showed inventories of distillates, a category that includes diesel, are 22% below the five-year average for this time of year. That type of distillate is also used for home heating oil; therefore, if a cold winter hits, prices will remain high.

The Russian-Ukraine war as well as OPEC’s refusal to pump more oil to make up for Russian supply shortages mean little hope for a quick fix to high oil prices, reports

“People should be very concerned,” economist Philip K. Verleger Jr. told the Los Angeles Times. “This will ripple through the economy.”

It already has. Prices of everything from new homes to groceries to just about anything hauled by a truck are affected by diesel costs. Recently, retail giants Wal-Mart, Target and Costco cited higher truck shipping costs for reduced quarterly earnings.

Summer Cold Sweeps East Asia

A summer cold spell is invading East Asia this week, bringing anomalous chills and snow to the Koreas.

North Korea has seen snow settling at below 2,000m (6,550ft) — an incredibly rare feat for June.

While it’s been exceptionally cold for the time of year in Japan, particularly across the northern province of Hokkaido. Here, Arctic air riding anomalously-far south on the back of a weak and wavy meridional jet stream has held maximum temperatures to between 6 to 8C (42.8 to 46.4F) in coastal areas such Omu and Nemuro.

While Japan’s capital, Tokyo, only reached 18C (64.4F) on Monday–some 8C below the average.

And staying in Asia, the month of May in Hong Kong finished with an average temperature of just 25C (77F), which is a -1.3C below the multidecadal average (image courtesy of HK Observatory).

“Recession and Paradigm Shift”

Ted Pick, co-president of investment bank Morgan Stanley, has joined bankers and investors from Jamie Dimon to Carl Icahn in warning that economic swings between fears of inflation and fears of contraction will likely result in a recession.

“There is a fire narrative, and that fire narrative is inflation. And then there is a bit of an ice narrative, that recession talk, hard landing or soft landing,” he said. “We’ll have these periods where it feels awfully fiery, and other periods where it feels icy, and clients need to navigate around that.” 

It is likely that the U.S. will enter a recession, but we likely will not know for sure until next fall, added Pick, who is forecasting an economic downturn if “inflation and inflationary expectations are cementing” by next fall, as this would force the Fed to tighten monetary policy and raise interest rates even higher.

Pick continues by saying that the U.S. is on the precipice of an entirely different business cycle which will be a departure from the loose monetary policy of the last 15 years, an event he calls an inevitable upheaval of the economy due to a record bull market run that was powered by a prolonged period of low borrowing rates.

“It’s an extraordinary moment,” added pick. “It signals a paradigm shift: the end of 15 years of financial repression and the next era to come … We’ll be having this conversation for the next 12, 18, 24 months,” said Pick, who is convinced that a change is coming, and a new business cycle with different rules is set to emerge in the old one’s wake (the Great Reset?).

This is a true confluence of catastrophes.

The timing is not coincidental.

They are orchestrating this collapse and are facilitating ‘the new business cycle’. It will be in their image, will serve only them, and will leave the masses at the mercy of a new form of technocratic tyranny that will be nigh-on impossible to reject: biometric IDs, digital ration cards, and a new mandatory digital currency.

Saying all this, and although I am indeed seeing hyper inflation and the next Great Depression as being just around the corner, what I see first is a panicked inflow into equities (and crypto) — that parabolic finale or blow-off top that all markets experience before a collapse. And so it stands, if we start seeing the markets, such as the Dow Jones Industrial Average, firing off into record-breaking territory over the coming weeks/months then this will, perhaps counter-intuitively, confirm to me that the top is near.

For a detailed dive into all that, check out the link below:

And take this for whatever it’s worth, but filings reveal that Nancy Pelosi just fired millions of her own US dollars into the stock market. She clearly believes a rally is coming. And she should know. She has a history of knowing. “She’s 82yo, yet trades options better than a Citadel algo running on a dedicated $300m mainframe computer,” tweeted Wasteland Capital on Monday:

Again, heed the warnings/instructions handed down by the elites. Whether that be to prepare for food shortages and/or crippling inflation–as the world’s bankers are forecasting; or in a near-term market blow-up–that Nancy is betting on.

They know what’s coming. They often broadcast it in plain sight. Depressingly though, the masses are too preoccupied with holding candlelight vigils for the Ukraine, arranging climate marches to save the planet, and queuing around the block for their fifth booster shot to pay any meaningful attention to what’s really going on.

For those interested, Pelosi recently purchased 100 call options on Apple with a strike price of $80 and expiring on the June 16, 2023. In addition, on May 24 Pelosi disclosed the purchase of another 50 call options on Apple, again with a strike price of $80 and expiring June 16, 2023. Also on May 24, the House Speaker disclosed 10 call options on Microsoft bearing a strike price of $180, again expiring on June 16, 2023. Unsurprisingly, Pelosi is up on all of these trades.

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23 Thoughts to “Wheat Futures Surge After Russia Strikes Ukrainian Grain Terminal; Summer Cold Sweeps East Asia; + Markets Should Brace For “Fire” And “Ice,” Says Morgan Stanley Executive: “Recession and Paradigm Shift” Inbound”

  1. Dallas Schneider

    What “more and cheaper” crude oil supply is there? Where is it?
    Who is using this language that is supposed to know where “more & cheaper” crude oil is?

    I contend it is the 800 lb gorilla in the back room no one is talking about publicly.

    That is Exxon’s said by industry insiders (I do know an oil executive or two)
    “to be bigger than Texas” new field discovery in Guyana. 2023 would be about right timing for the oil windfall profits (tax-who remembers that) to have funded some drilling completion projects there for the company.

    What say you?

    Dallas (my brother is JR – we were born only 3 miles from the largest record holding Initial Producing oil well on the PLANET!)

    1. Ragnar Ravn

      Namibia has just had some extremely large offshore oil fields discovered by Total and Shell.
      However the talk is whether they can get the rigs up and running before the ESG hits the financing and ability to extract the oil and sell it, as the noose tightens around the planets energy lifeblood and consumers.

      Question is whether it’s EROI or green insanity outcome will be the same. Societal implosion and the end of affluent democracies.

  2. Dallas Schneider

    What do you mean “IF” a cold winter hits this year 22-23?
    What with volcanos popping off 50,000-200,000 feet high in the atmosphere, creating an umbrella of ash in the stratosphere, the weakest solar sunspot activity in decades, and a planetary alignment sucking the earth away from the sun, perhaps we should be asking…………..
    “What IF a COLD Summer hits?”

    1. Juan Cabrillo

      December ’24 we’re between Jupiter and the Sun pulling us away. Six months before and after that with an elliptical orbit will we be closer to the Sun during X flares hitting our weakened mag shield causing extreme heat waves? November ’03 we’ll be between Jupiter and the Sun, end of September this year. Six months before and after with an elliptical orbit wouldn’t we be closer to the Sun while it’s pelting us with solar flares while our mag shield is very weak and causes extreme heat waves?
      SC25 forecast above average seen again today at:
      Hong Kong Summer forecast is above normal along with Tokyo, Shanghai, Seoul. No cold panic there.

      1. Deb

        You’re my favorite Cussler character. Just keep that leg loaded. Never know when the zombie apocalypse will start.

    2. TW

      The solar cycle is ramping up though.

  3. Dallas Schneider

    WOW! Just look at the decline in “Total Bright Sunshine” for Hong Kong!
    The city is in the northern hemisphere, right? We are going into summer
    where the longest day of sunshine in the year is coming up June 21st, RIGHT?
    Thank you Cap for finding and posting this graph!
    Clearly an ominous indicator going against the trend that should be happening!

  4. Anonymous

    Pelosi has “incider” info.
    Reports from a Texas Bank via Southern Prepper 1 says
    1) Unsecured Lending UP! (credit cards)
    2) Delinquency UP! (not paying off debt)
    3) Cash Deposits UP! (People selling equities putting money into the bank)
    Don’t watch SP! “Boots on the Ground” video unless one is prepared
    to get actual reports of what is happening in their business, their local US area!

  5. Mystic’s Mystic

    Building back better sounds a little hollow right now. Without calories in a world that runs on calories, if you need something built you better do it now.

  6. Michael Peinsipp

    “They know what’s coming. They often broadcast it in plain sight. Depressingly though, the masses are too preoccupied with holding candlelight vigils for the Ukraine, arranging climate marches to save the planet, and queuing around the block for their fifth booster shot to pay any meaningful attention to what’s really going on.”
    And partying, shoving Meth/Fentanyl up their noses, robbing and looting…this is the Time History (and Me) has warned about…Good Times are followed by Bad Times…and it will be the worst Bad Time ever!
    Arm up, grow food and most of all…get ready for HELL.

    1. Deb

      Would that you were wrong!

  7. JNS

    Russia, Russia, Russia, the scapegoat! Who shut off pipelines, new drilling, and shale projects? Who turned the U.S. from energy self-reliance to being dependent on foreign oil? And, who is selling all that grain to China … every time I drive I-90 through Montana, I pass trains full of grain headed west, presumably to ports, to be shipped to China!

    1. Randy

      Thank you!!! Russian story of the shelling of the grain silos in my opinion is highly suspect when most of the independent journalists out there are getting reports from the civilians that it is Ukraine that is doing the shelling, for the goal of demonizing Russia. Ala Syria Assad gassing his own people who vote him back into office when all along it was ISIS and the infamous “moderate rebels”.

  8. John Galts Offspring

    re: Pelosi $$: if ANY non-Democrat had done this, they would have been accused of insider trading. And tarred, feathered, and run out on a rail.
    She’s getting richer on MY tax dollars.

  9. Matt Dalby

    One thing that Cap hasn’t talked about much re. inflation/impending economic doom is the effect of the stupid amounts of money that were printed around the world during the covid nondemic. For a full explanation see
    I don’t know a huge amount about economics, but the article makes a lot of sense to me, and if it doesn’t show that coming collapse was pre planned it at least shows that our leaders were incredibly stupid and short sighted.

    1. Al

      They are controlling the demolition of society and are very cunning. Pelosi might be lucky in her option trades but I do not agree that a blow off top is coming. It has already passed…it came with the trillions of print from the April 2020 lows in the markets and shot up 100% in less than two years. The Fed is tightening rates and removing 45 Billion a month starting soon…then increasing the withdrawels to 90 billion a month…that is the opposite of QE…this will ultimately lead to a severe market fall and worse. The party is over…get out of stocks instead of hoping to get out with a profit when your on the wrong side of a trade. Wave 3 down is coming very soon…it’s what they want.

  10. Doktor Seltsame Liebe

    Did X-FILES broadcast (((their))) plans years ago?… well I guess… and the injectaholic TV watchers STILL can’t get it… or get enough “gov’t love juice”.…-did-x-files-predict-the-future.html

  11. Harari, "The WEF Globalist's Project B.R.A.I.N."

    Yuval Noah Harari: the world after coronavirus [The Brain] Yuval Noah Harari March 19 2020 [the globalist’s WEF personification/”front queer brained nerd/dweeb” of “Project B.R.A.I.N.’s” plan to take over the world!

    The Brain [cartoon ringer for Yuval Noah Harari] “Things will be different when I take over the world!” In “Project B.R.A.I.N.”, Brain’s name is the backronym for the eponymous project: “Biological Recombinant Algorithmic Intelligence Nexus”.[9] His [megalomaniacally queer brain] tail is angular and bent — he often uses it to pick the lock of the cage door — and his head is large and wide, housing his abnormally large brain. He is highly intelligent and develops complex plans for global domination using politics, cultural references, and his own inventions toward his goal. He seems coldly unemotional, speaking in a snarky [sassy queer/nerdy] deadpan voice.

    Brain Quotes:
    “The irony of it all, Pinky. Years of trying to take over the world, and all I had to do was say ‘moo’.” [well he was right about that one]
    “Be afraid. Be very afraid.”
    “If I could reach you, I would hurt you!”
    “There’s only one ride that interests me – the incredible thrill ride of taking over the world!”
    “Pinky: Gee, Brain-2, what are we gonna do in the next millennium?
    Brain: The same thing we do every millennium, Pinky-o. Try to take over the galaxy!”
    “Promise me something, Pinky. Never breed.” — The Brain
    “As you know, people in today’s body-conscious society are obsessed with losing weight. My plan is to secretly replace all the artificial sweeteners in the world with real ones; thus rendering the world’s population fat, slow-moving, and completely toothless.”—The Brain
    “Because with me in charge, it will be a better place.” — The Brain

    Yuval Noah Harari, Jew/Brain, had his gay wedding in Toronto, Canada
    Why The Brain wants to Take over The World

    1. Harari, "The WEF Globalist's Project B.R.A.I.N."

      The GloboHomo Brian

      1. Harari, "The WEF Globalist's Project B.R.A.I.N."

        The Brain as a youth growing up on the streets in Israel… no cheese for him.

  12. Ballistic Logos

    WHO and WEF Globalists Coordinate Their Global ‘Reset’
    The Death of the Ministry of Truth — What Will They Do Next?

    Top-Down Rule Is a Failed Model of Governance

    In a May 2, 2022, article, Michael Driver highlighted some of the global cabal’s apparent weaknesses, noting we actually have a lot to be optimistic about. Here’s a longer than usual excerpt from this worthwhile read:13

    “I don’t worry about the World Economic Forum achieving their stated goals for 2030 … If history rhymes, it positively sings with the failure of such grandiose projects. The history books are littered with the corpses of centralized top-down ideas.

    The reason why we are not talking enough about the impossibility of Klaus Schwab’s Great Leap Forward is because the opposition are guilty of the same failure of basic understanding. The opposition is making the flawed assumption that this project is doable.

    In fact, the future is resistant to shaping. What we should all be preparing for is the failure of the WEF’s program. This should be a cause of profound optimism. Put simply the universe works against centralized top-down systemization.

    ‘They’ are swimming against the teleological tide of creation — an impenetrable future, the inevitability of the new, while we are surfing the wave of ontological emergence with decentralization as the key to developing solutions via free and open debate.

    ‘Mann Tracht, Un Gott Lacht’ — man plans and God laughs — is a Yiddish proverb. Well, she must be positively ROFL at the collection of billionaires and world leaders gathered in a fake village in Switzerland busily stitching together their own petards.

    As David says in Psalm 59:8, ‘But you, O Lord, shall laugh at them: You shall have all the nations in derision.’ Derision and ridicule are the correct responses here, not abject panic. They are not going to succeed; Iron Mike got it right when he said ‘Everyone has a plan till they get punched in the face’ …

    Schwab and his collection of command and control technocrats have taken the ideas of Stalin, Chairman Mao, Pol Pot and whoever wrote WeWork’s business plan and dressed them in new clothes.

    These threadbare robes are camouflaged with words such as ‘stewardship,’ which actually means the absence of democracy; ‘sustainability,’ roughly translated as ‘you eat bugs while we flambé the wagyu’; ‘inclusivity,’ which is a big club and you ain’t in it, and ‘equity’ which redistributes assets to billionaires and associated parasites …

    Every plan falls apart when you pull on its assumptions. The Great Reset sits on the implicit assumption that everything in nature can be known, ordered and controlled via technology. Some twisted fantasy they call artificial intelligence. A general theory that they claim applies to everyone and everything everywhere.

    Globalism from above is just another in a long line of narrative fantasies stretching all the way back through the failed ideologies of the last century — communism, fascism, religious fundamentalism and so on. Our vital objective should be to avoid the fate of the victims of these failures …

    Get angry, then get with the repudiation. Get with the presentation and promotion of decentralized, ground up, emergent philosophies. Get with the optimism. We are on the right side of history; they are on the precipice.”

    How to Become Ungovernable

    While the Schwabs and Gateses of the world may appear invincible and too powerful to knock down, we should not give in to such mental traps. Always remember that there are literally many millions of us for each and every one of them.

    They can’t impose their ambitions on us unless we let them. They need our permission and cooperation to rule over us. So, part of the answer is to become ungovernable.

  13. Doktor seltsamer Wetterliebhaber

    New Discoveries That Completely Alter Human History – UnchartedX
    Mar 1, 2022 [note esp. from 16:00 min. mark]

    Q. Who Would SURVIVE The Next Global [Ice Age] Cataclysm? [note esp. from 06:00 min. mark]…
    A. Not the spoiled children not already in the business of survival… again.

    After Skool

    FINGERPRINTS of the COSMOS – Randall Carlson – A Fireside Talk [the end of warm climates, the end of civilization and prosperity]

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