This tweet made my day:
If you don’t get it, you probably missed the biggest lumber boom in history. Since the beginning of Covid, lumber prices have shot up 5X. This year alone, lumber doubled, reaching an all-time record of $1,670 per thousand feet of board.
Jokes aside, this boom is not about lumber. The prices of all raw materials, from copper to soybeans, are marching higher. And so far, commodities are the best performing market corner this year:
So today we’re going to talk about commodities. I’ll discuss what’s driving their prices right now, the bear and bull case that could shape this market, and how you can invest in it.
But first, what commodities are and the role they play in the economy.