Is Rising GNR an Indicator or at Risk of Reversion? The SPDR S&P Global Natural Resources ETF (GNR), up about 60% since the end of 2019, is in a bull market. My graphic highlights GNR's divergent strength vs. the declining Bloomberg Agriculture and Grains Spot Subindexes, which are up only around 33% and 12% over the same period. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/t701iekip3if {BI COMD} #corn #soybeans #wheat #grains(Mike McGlone)