Data-Driven Commodity Research, The Commodity Report

The Commodity Report

Data-Driven Commodity Research

A unique newsletter about commodities and macro analysis in a weekly format.

Commodities

<ul><li>Global crop production growth will mainly be driven by continued progress in plant breeding and a transition to more intensive production systems.</li><li>Yield improvements are projected to account for 79% of global crop production growth, cropland expansion for 15%, and higher cropping intensity for 6% over the outlook period.</li><li>Global growth of sugar consumption will be driven entirely by Africa and Asia, with demand projected to surge in areas where the level of per capita intake is currently low.</li></ul>

Global crop production growth will mainly be driven by continued progress in plant breeding and a transition to more intensive production systems.Yield improvements are projected to account for 79% of global crop production growth, cropland expansion for 15%, and higher cropping intensity for 6% over the outlook period.Global growth of sugar consumption will be driven entirely by Africa and Asia, with demand projected to surge in areas where the level of per capita intake is currently low.

How Much Do Commodity Prices Rise when Fertilizer Prices Rise?

Head of Research, Steno Research

Emil Moller

Head of Research

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

Macroeconomics

<ul><li>Welcome back to the weekly Positioning Watch, where we crunch through the positioning data and point out the biggest positioning trends in global markets.</li><li>Main takeaway: Bond bears had a significant setback this week following a mild inflation report – and that comes after a substantial surge in yields the previous week.</li><li>Now, we eagerly examine the market’s repositioning here in the aftermath of the reversal.</li></ul>

Welcome back to the weekly Positioning Watch, where we crunch through the positioning data and point out the biggest positioning trends in global markets.Main takeaway: Bond bears had a significant setback this week following a mild inflation report – and that comes after a substantial surge in yields the previous week.Now, we eagerly examine the market’s repositioning here in the aftermath of the reversal.

Positioning Watch – Preparing for (dis)inflation?

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

<ul><li>Rates are moving on the back of strong numbers in the labor market, but energy is not finding a bid... yet? This week we wonder if there is life in energy after all.</li></ul><div><div><ul><li>Below are some of the important curves in the energy space with their current price and price 1 month ago. Notice something? All have shifted upwards and we thus wonder if there is life in energy space after all?</li><li>If you are looking <span style="font-size: var(--content-font-size);">for arguments for strength in the curves below we find the Fed’s failure to tighten monetary conditions properly obvious, but that same reason might be why investors should tread lightly. Maybe that’s why energy stocks haven’t outperformed the market over the last month.     </span></li></ul></div></div>

Rates are moving on the back of strong numbers in the labor market, but energy is not finding a bid... yet? This week we wonder if there is life in energy after all.Below are some of the important curves in the energy space with their current price and price 1 month ago. Notice something? All have shifted upwards and we thus wonder if there is life in energy space after all?If you are looking for arguments for strength in the curves below we find the Fed’s failure to tighten monetary conditions properly obvious, but that same reason might be why investors should tread lightly. Maybe that’s why energy stocks haven’t outperformed the market over the last month.     

The Energy Cable #28 Is There Life in Energy After All? - Watch Series

<ul><li>Why isn’t Gold starting to sell off? In last week’s report, we already highlighted that the golden metal stays unattractive - as the Fed will likely do more rate hikes.</li><li>The, in some parts, stronger-than-expected job market data we received last week confirmed that view once again.</li><li>We find it interesting that gold hasn’t shown more weakness yet - even as rates continue to rise again.</li></ul>

Why isn’t Gold starting to sell off? In last week’s report, we already highlighted that the golden metal stays unattractive - as the Fed will likely do more rate hikes.The, in some parts, stronger-than-expected job market data we received last week confirmed that view once again.We find it interesting that gold hasn’t shown more weakness yet - even as rates continue to rise again.

Why isn’t Gold starting to sell off? // The Big Sugar Rush

External broker reports(aggregated public sources), Unicredit

Unicredit Research

External broker reports(aggregated public sources)

Unicredit

With nearly 30 analysts, UniCredit Research provides high-quality macroeconomic and financial market analysis to support clients in the development of investment plans, strategic and tactical asset allocation of financial investments, security selection and risk management. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul>
<li>Global: We are revising our global GDP growth forecasts up to 2.8% for this year and down to 2.7% for next year.</li>
<li>Business surveys suggest the solid start to the year is losing traction as the transmission of tighter monetary policy to the real economy accelerates and post-pandemic consumption shifts weigh on manufacturing.</li>
<li>Headline inflation is set to decline rapidly in advanced economies, driven by base effects, lower commodities prices, and easing cost pressures for goods, while services inflation will descend more gradually, keeping central banks on high alert.</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Global: We are revising our global GDP growth forecasts up to 2.8% for this year and down to 2.7% for next year.
Business surveys suggest the solid start to the year is losing traction as the transmission of tighter monetary policy to the real economy accelerates and post-pandemic consumption shifts weigh on manufacturing.
Headline inflation is set to decline rapidly in advanced economies, driven by base effects, lower commodities prices, and easing cost pressures for goods, while services inflation will descend more gradually, keeping central banks on high alert.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

United States

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Crude Oil (CL1 COM COMDTY)

How Much Do Commodity Prices Rise when Fertilizer Prices Rise?

Global crop production growth will mainly be driven by continued progress in plant breeding and a transition to more intensive production systems.

The Commodity Report

Positioning Watch – Preparing for (dis)inflation?

Welcome back to the weekly Positioning Watch, where we crunch through the positioning data and point out the biggest positioning trends in global...

Steno Research

The Energy Cable #28 Is There Life in Energy After All? - Watch Series

Rates are moving on the back of strong numbers in the labor market, but energy is not finding a bid... yet? This week we wonder if there is life...

Steno Research

Why isn’t Gold starting to sell off? // The Big Sugar Rush

Why isn’t Gold starting to sell off? In last week’s report, we already highlighted that the golden metal stays unattractive - as the Fed will...

The Commodity Report

UniCredit Research - Economics Chartbook

Global: We are revising our global GDP growth forecasts up to 2.8% for this year and down to 2.7% for next year. Business surveys suggest the solid...

Unicredit Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)