Notes today: 

• Spot-month CBOT soybean oil futures on Wednesday hit an all-time high of 72.32 cents per lb. The latest streak tops the prior highs set in early March 2008. 

• (DW) Nearly one in two people in Nepal are testing positive for coronavirus amid a 60-fold increase in cases since April. 60-fold. 

• UK withholds backing for Joe Biden’s minimum global business tax. 

• Tesla’s Musk is apparently running the cryptocurrency market single-handed this week. NUTS! 

• The preliminary estimate of the index of consumer sentiment released Friday by the University of Michigan stood at 82.8 in May, down from 88.3 in April. Consumer confidence fell due to the highest expected year-ahead inflation rates.