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    IF DEMAND FALLS IN 2023, THEN PRICES WILL FOLLOW…

    10 Nov 2022
    We have had a bearish view on prices since they reached record highs in May 2022. The “Buy the rumour, sell the facts” strategy was again fully justified as a lot of this price peak was just fear and risk. The Black Sea corridor is likely to be prolonged and South American production is on the way to a bumper crop. With decent supplies around the world, demand may well be the next bearish price influencer…

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