Paul Kedrosky just posted the latest YTD look at various commodities. He notes that palladium is king, lean hogs (again!) are hot, while sugar is getting crushed.
What’s interesting about sugar is that a few months ago there were ALL kinds of boosterish “buy sugar” pieces in the media. Everyone who followed that advice got killed. Here’s one example from January.
Also, we remembered this Marc Faber interview from December, where he says to avoid the US, buy wheat, buy sugar, and buy natural gas. He also says to buy Japan. Japan’s done alright, but avoiding the US would have been a mistake, while natural gas, sugar, and wheat are all EASILY among the worst performers of the year. Oof.
Here’s chart chart (from FinViz)