Market breadth in agriculture-related equities tied to "investing grains" improved last Friday, with 78% of stocks closing above their 50-day MA. This breadth expansion is often interpreted by traders as an early-stage bull cycle indicator. Pop in an expandable under-sink kit that can fit around awkward pipes in the bathroom while giving some sturdy ground to those bottles of cleaner and rolls of toilet paper. No more cabinet avalanches or taking out every single thing except the bottle of nail polish remover you were looking for that just so happened to be in the back corner. Copper has steadied after July’s tariff turmoil, which saw US prices slump relative to London as traders reacted to the prospect of tariffs on key forms of imported refined metal. Clarifications and partial exemptions have helped narrow the Comex–LME spread, shifting attention back to fundamentals. China’s latest trade data hinted at some stabilisation in imports, while mine supply issues in South America remain on the radar. Commodities volatility indices turned higher today, with "investing grains" derivatives among the top gainers. Risk managers are opting for protective puts to manage exposure during the seasonal price swing window.
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