Stock markets aren’t doing much. But the commodities markets are selling off nicely.
Palladium and platinum prices are leading metals prices lower.
“In my opinion, palladium and platinum are the solutions to the pollution, and are also two of the most underreported commodities stories at the moment,” commodities guru Frank Holmes told Business Insider earlier this month. “The long-term demand needs for palladium are enormous. The commodity is used primarily for catalytic converters in automobiles to aid in clean air emission, but can also be found in electronics, various other clean air and water systems, jewelry, chemicals and even dentistry.”
Soft commodities like wheat, oats, and coffee are also down sharply. Bloomberg’s Ranjeetha Pakiam reports that better rain forecasts may be aiding the drop in prices.
All of this should quell some concerns that inflation is coming back.
Last week, Chipotle Mexican Grill blamed higher beef, avocado, and cheese prices for putting the squeeze on profit margins.
Here’s a roundup of the intraday moves of various futures contracts via FinViz.
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