Commodities Update Sugar price rally likely to falter soon The US dollar price of sugar has recently surged as a result of a hike in fuel prices in Brazil. But with the price of sugar already much higher in terms of Brazilian real, and the possibility of... 6th October 2015 · 1 min read
Commodities Focus The impact of China’s rebalancing on demand for commodities The move away from commodity-intensive investment-led growth in China towards a more consumer-driven economy is often cited as sounding the death knell for commodities demand. However, we would argue... 2nd October 2015 · 1 min read
Commodities Update US stocks don’t indicate any market shortage The latest US grain stocks estimates continue to signal that grain and oilseed supplies are plentiful. With weak currencies boosting the competitiveness of key exporters, we think dollar prices are... 1st October 2015 · 1 min read
Commodities Update Soybean prices have further to fall The price of soybeans has fallen by around 15% in US dollar terms so far this year. However, the bigger picture is that the price has been in a downward trend since peaking close to 1,750 US cents per... 30th September 2015 · 1 min read
Commodities Update Brazil Sugar Production (1st Sep. – 16th Sep.) Data released today by Brazil’s Sugarcane Industry Association, UNICA, showed that sugar cane harvesting in Brazil’s main South-Central region was severely disrupted by rain in the first half of... 24th September 2015 · 1 min read
Commodities Update Further changes to China’s corn policy are likely The proposal to cut the price paid to China’s corn farmers for state stockholding purchases is unlikely to be sufficient to tackle the country’s growing corn stocks. Indeed, we think further reforms... 23rd September 2015 · 1 min read
Commodities Update Chinese imports ease in August, but after a strong July The detailed Chinese import data show an easing of demand for many agricultural commodities in August. However, the bigger picture is that demand remains robust. 22nd September 2015 · 1 min read
Commodities Update What should the Fed’s inaction mean for commodities? Commodity markets initially welcomed the US central bank’s decision to keep rates on hold yesterday, but the moves have been small. This makes sense, as rates are still likely to rise soon, and the... 18th September 2015 · 1 min read
Commodities Update Prices remain under pressure Seven of the main agricultural commodities have seen prices fall since mid-August despite some softness in the US dollar which is normally considered supportive of dollar-priced commodities. Of the... 17th September 2015 · 1 min read
Australia & New Zealand Data Response New Zealand GDP (Q2) The disappointingly soft rebound in GDP in the second quarter supports our below consensus forecasts that the economy will grow by just 2.0% this year and that the RBNZ will cut interest rates from 2... 17th September 2015 · 1 min read
Commodities Update Global corn & soybean inventories cut, but still no shortage The price of corn rallied late last week as the USDA cut its estimates of the US corn yield and global end-year stocks. But with high inventories likely to endure, we think prices will end the year... 14th September 2015 · 1 min read
Commodities Update Risks to the new cocoa harvest could keep prices elevated A lack of rainfall in the key cocoa growing countries in West Africa has increased the risk of a poor harvest for the 2015/16 year, adding upside risks to the outlook for the price of cocoa. 11th September 2015 · 1 min read
Commodities Update Malaysia Monthly Palm Oil Data (Aug.) Data released earlier today by Malaysia’s Palm Oil Board show that crude palm oil production in August was the highest on record. Stocks also rose sharply again. 10th September 2015 · 1 min read
Commodities Update Brazil Sugar Production (16th Aug. – 1st Sep.) Data released today by Brazil’s Sugarcane Industry Association, UNICA, revealed that the amount of sugar cane harvested in Brazil’s main sugar producing South-Central region in the second half of... 9th September 2015 · 1 min read
Commodities Update Sentiment sinks further Commodity prices continue to ebb and flow at the whim of movements in Chinese equity prices and concerns about a “hard landing” for the economy. Although agricultural prices don’t have the same level... 2nd September 2015 · 1 min read
Commodities Update A look at China’s growing corn problem Chinese import demand has been a key factorshaping agricultural commodity prices over thepast decade or more. Recently the NationalDevelopment and Reform Commission (NDRC)and the Ministry of... 28th August 2015 · 1 min read
