Who buys Russian wheat?
If there is a disruption to Russian or Ukrainian wheat supply world wheat prices will rise.
1: Russia is the biggest wheat exporter
If there is a disruption to Russian or Ukrainian wheat supply, even if your country doesn’t buy directly from them, world wheat prices will rise.
2: There are more new 52 week lows for constituents in the Nasdaq Composite today than at the height of the Global Financial Crisis or Dot Com Bust
Source: Bloomberg
3: Investor sentiment is in the toilet
Contrarian indicator?
4: Energy/metals stock valuations relative to broad market at 100 year low point
5: Estimated Q4 share buybacks at record levels
Just as the price of buying back share reaches record levels…