Commodities Update Taking stock of the fall in US winter wheat plantings The release of the USDA’s winter wheat seeding report, the agency’s first estimate of US winter wheat acreage, points to the possibility of a fall in production this year, not just for winter wheat... 2nd February 2016 · 1 min read
Commodities Update Another headwind for wheat prices if Russia lowers export tax Russian ministers are set to meet on Wednesday to decide whether or not to remove the wheat export tax. We think the removal of the tax would put more downward pressure on wheat prices, although the... 2nd February 2016 · 1 min read
Commodities Chart Pack Oil drags commodities lower, but gold shines It was a poor start to the year for commodities with the prices of energy, industrial metals and agricultural commodities all falling owing to persistent concerns about Chinese demand and continued... 1st February 2016 · 1 min read
Commodities Outlook Oil to lead a broad-based recovery Despite the rally in the oil market at the end of January, the big picture over the last few months has of course been one of further sharp falls in the prices of most industrial commodities. What's... 1st February 2016 · 1 min read
Commodities Weekly Further rally in oil price may need stronger foundations This week’s big story has, of course, been the rebound in oil prices (to nearly $35pb) on unconfirmed reports that Russia and OPEC may finally be willing to agree coordinated cuts in output. We are... 29th January 2016 · 1 min read
Commodities Update China’s policy reform could spell further trouble for corn prices Recent reports suggest that the Chinese government will stop supporting domestic corn producers and let the market determine prices. If implemented, this could put further downward pressure on global... 27th January 2016 · 1 min read
Commodities Update Chinese import demand for ags slows at the end of 2015 The detailed Chinese import data for December, released earlier today, suggest that the strength of demand for agriculturals continued to ease at the end of 2015. 26th January 2016 · 1 min read
Commodities Weekly Oil prices jump on Saudi comments and US blizzard After another poor start, the prices of industrial commodities ended the week on the up. The main positives were hints of additional monetary policy support from the ECB and the absence of any more... 22nd January 2016 · 1 min read
Commodities Update Coffee prices set for limited recovery We expect global coffee output to rise only slightly in 2015/16, leading to a drawdown in global stocks, which should result in stronger prices. Our forecast that the Brazilian real will remain weak... 22nd January 2016 · 1 min read
Commodities Update Cocoa price still likely to end the year lower After taking the gold medal for price gains in 2015, cocoa has quickly fallen off the podium. Supply risks could see the price rebound over the short term before ending the year lower. 22nd January 2016 · 1 min read
Commodities Update Investor sentiment starts 2016 on a cold note After a poor 2015 for agriculturals, with a number seeing double-digit price falls, 2016 has started on a weak footing. While less affected by the economic cycle than other commodities, agriculturals... 20th January 2016 · 1 min read
Commodities Update Sugar prices to extend recovery in 2016 Although expectations for the current 2015/16 Brazilian crop have been revised higher, smaller harvests elsewhere and a receding threat of Indian exports mean that we are maintaining our forecast that... 15th January 2016 · 1 min read
Commodities Update Malaysia Monthly Palm Oil Data (Dec.) Data released earlier today by Malaysia’s Palm Oil Board show that palm oil inventories declined in December for the first time since the middle of last year as production fell sharply again. 11th January 2016 · 1 min read
Commodities Weekly Poor start gives way to some more encouraging signs The prices of key industrial commodities fell further in the first full week of 2016, led by oil, as China worries resurfaced again. The markets also concluded (rightly, in our view) that the... 8th January 2016 · 1 min read
Commodities Update More weakness for soybean prices likely in 2016 Record global harvests and stock levels, further depreciation in the currencies of key producers and subdued Chinese demand all look likely to drag the global price of soybeans lower this year. 8th January 2016 · 1 min read
Commodities Update 2015 laggards end year on a high December was a month of mixed fortunes for agricultural commodities in an otherwise pretty forgettable year. Indeed, the S&P GSCI agriculture index plunged 12% y/y in 2015 – the third consecutive... 7th January 2016 · 1 min read
