Commodities Update Attention turns to demand & South American harvests In spite of the increase in demand for animal feed projected in the latest WASDE, we expect the global supply of the major grains and soybeans to be ample at current or even lower prices. 11th December 2013 · 1 min read
Commodities Update Muted response to US data suggests "Fed taper" priced in The limited reaction in commodity markets to the stronger-than-expected US employment report supports our view that Fed tapering may not be the watershed that many still expect. In particular, the... 6th December 2013 · 1 min read
Commodities Update Brent - WTI spread to narrow as both prices fall back The widening of the spreads between the prices of Brent and US benchmark crudes should reverse over the next year as new pipelines ease the logistical constraints that have contributed to the glut of... 4th December 2013 · 1 min read
Commodities Update Sugar prices still have further to fall Even though the global price of sugar has already slumped by around a third over the last three years, we think it has further to go. We expect the US benchmark sugar price to finish 2014 at 15 cents... 28th November 2013 · 1 min read
Commodities Update Will bitcoin ever become mainstream? The surge in the value of bitcoin has encouraged speculation that it could become a credible alternative to fiat currencies and a serious financial asset in its own right, perhaps even supplanting... 28th November 2013 · 1 min read
Commodities Update What could China's Third Plenum mean for steel? In the short term the economic reform package set out at the end of a meeting of top Chinese government officials, known as the Third Plenum, should have little impact on the prices of steel or... 26th November 2013 · 1 min read
Commodities Update What could the deal with Iran mean for oil prices? The deal between Iran and the West is unlikely to result in an immediate increase in oil supplies, but it does lay the groundwork for a potentially much more significant agreement next year. We expect... 25th November 2013 · 1 min read
Commodities Update China and euro-zone PMIs point to weak industrial demand As if the uncertainty over Fed tapering were not enough to worry about, early business survey indicators from China and the euro-zone suggest that demand for industrial commodities will disappoint. 21st November 2013 · 1 min read
Commodities Update Cut in ethanol law knocks back hopes of higher corn demand The proposed reduction in the Renewable Fuels Standards in the US could reduce US corn consumption by over 4% next year compared to likely consumption under the current law. This should put further... 19th November 2013 · 1 min read
Commodities Update Gold demand statistics not all bad news Data published by the World Gold Council today report that global demand for gold fell by more than a fifth in Q3 relative to the same period a year earlier, as Western investor appetite waned and... 14th November 2013 · 1 min read
Commodities Update How big an impact could an Iran deal have on oil prices? Iran and the West appear to be edging towards an interim deal that should ease tensions over Iran's nuclear programme, despite the impasse in Geneva at the weekend. Sanctions on Iran's oil exports... 12th November 2013 · 1 min read
Commodities Update Corn supplies to remain plentiful, despite rising demand In spite of the increase in demand for animal feed projected in the latest WASDE, we still expect the global supply of the major grains and soybeans to be ample. What’s more, other source of demand... 11th November 2013 · 1 min read
Commodities Update Rising Chinese imports need not be bullish The pick-up in China's imports of commodities in recent months is perhaps further evidence of the recovery in economic activity already seen in other data, but is not necessarily telling us much about... 8th November 2013 · 1 min read
Commodities Update Gold should continue to outshine industrial metals The prospects for the price of gold remain better than those for most industrial metals, with silver fitting in somewhere in between. 30th October 2013 · 1 min read
Commodities Update Rising supply to continue to undermine copper prices The supply of copper has risen significantly faster than demand so far this year. This trend should lastwell into next year, adding to the downward pressure on the price of the red metal. We... 29th October 2013 · 1 min read
Commodities Update Increased efficiency to sustain shale boom Much of the surge in US oil production has come from improvements in drilling technology and processes rather than an increase in the number of rigs. These improvements should reduce costs and allow... 23rd October 2013 · 1 min read
