Oil prices surged again overnight to new 10-month highs of almost US$97/bbl after US oil inventories fell to their lowest levels in over a year. US bond yields rose again and US stocks fell more after strong US durable goods orders.

In our bonus deep-dive interview, ANZ’s Head of Food, Beverage and Agri-Insight Michael Whitehead explains why sheep prices in Australia are slumping under $10 per head.

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