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>The wobbly first four months of the year are over, and it has become easier to detect clear trends in the market.</li><li>As you can see, our YTD performance has clearly picked up, and we’re confident that we'll continue to clearly outperform the CRB Commodity Index.</li><li>Consultancy Datagro announced on Thursday that Brazil's center-south region is anticipated to have a sugar output of 38.3 million tonnes in the current season, which began in April.</li></ul>

The wobbly first four months of the year are over, and it has become easier to detect clear trends in the market.As you can see, our YTD performance has clearly picked up, and we’re confident that we'll continue to clearly outperform the CRB Commodity Index.Consultancy Datagro announced on Thursday that Brazil's center-south region is anticipated to have a sugar output of 38.3 million tonnes in the current season, which began in April.

While Commodities sold off - we made profits // Some relief on the sugar front

<ul><li>In its latest Commodity Markets Outlook report the World Bank said last week that global commodity prices are expected to decline this year at the fastest pace</li><li>The agency expects prices to fall 21% compared to last year during 2023.</li><li>For 2024 the World Bank expects prices to remain stable. </li></ul>

In its latest Commodity Markets Outlook report the World Bank said last week that global commodity prices are expected to decline this year at the fastest paceThe agency expects prices to fall 21% compared to last year during 2023.For 2024 the World Bank expects prices to remain stable. 

Recession fears scare commodities again & World Banks forecasts major drop

<ul><li>Don’t get fooled by the tight inventory narrative While many copper bulls continue to write about the low copper inventories I would like to inform you once again that there is simply no correlation between copper inventories and the price of the industrial metal.</li><li>If you want to be precise - you could even make the case that excessive lows in the LME copper inventory data actually mark cyclical highs in the price of the brownish metal.</li><li>US Leading Economic Index's recession signal deepens in March, Conference Board reports: “The US LEI fell to its lowest level since November of 2020, consistent with worsening economic conditions ahead,” says CB's senior manager for business cycle indicators.</li></ul>

Don’t get fooled by the tight inventory narrative While many copper bulls continue to write about the low copper inventories I would like to inform you once again that there is simply no correlation between copper inventories and the price of the industrial metal.If you want to be precise - you could even make the case that excessive lows in the LME copper inventory data actually mark cyclical highs in the price of the brownish metal.US Leading Economic Index's recession signal deepens in March, Conference Board reports: “The US LEI fell to its lowest level since November of 2020, consistent with worsening economic conditions ahead,” says CB's senior manager for business cycle indicators.

Don’t Get Fooled by the Tight Inventory Narrative - Economic Situation Continues to Worsen

<ul><li>As the new season commences in April, Brazil is predicted to manufacture 40.3 million tonnes of sugar, marking the second highest yield ever recorded.</li><li>This is primarily due to the favorable climate conditions and the sufficient capitalization of mills, allowing for the proper care of crops.</li><li>As per a report by Job Economia, mills are likely to concentrate on sugar production, reducing ethanol production, since the cost of sugar futures is at its highest in over six years.</li></ul>

As the new season commences in April, Brazil is predicted to manufacture 40.3 million tonnes of sugar, marking the second highest yield ever recorded.This is primarily due to the favorable climate conditions and the sufficient capitalization of mills, allowing for the proper care of crops.As per a report by Job Economia, mills are likely to concentrate on sugar production, reducing ethanol production, since the cost of sugar futures is at its highest in over six years.

Between Chilean Copper Woes & Brazilian Sugar Rush

Asia biased macro & technical analysis, Untying The Gordian Knot

Untying The Gordian Knot

Asia biased macro & technical analysis

A differentiated process with a primary focus on Asia. Technical Analysis as core and Macro drivers that could bring the view to fruition & changes that could make the idea fall apart. The objective is to be the best in class, hence corner shop.

Macroeconomics

<ul><li>The US 10-year rates futures had rallied for six consecutive days while Growth and Momentum stocks lagged.</li><li>Wednesday was a marked change, with NASDAQ falling while bonds rallied sharply.</li><li>It was a day when value and small caps outperformed FANMG and Growth stocks.</li></ul>

The US 10-year rates futures had rallied for six consecutive days while Growth and Momentum stocks lagged.Wednesday was a marked change, with NASDAQ falling while bonds rallied sharply.It was a day when value and small caps outperformed FANMG and Growth stocks.

United States

Gold is a chemical element with the symbol Au (from Latin: aurum) and the atomic number 79. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable and ductile metal. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements, and is solid under standard conditions. The metal therefore occurs often in free elemental (native) form, as nuggets or grains, in rocks, in veins and in alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum) and also naturally alloyed with copper and palladium. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

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Gold (GOLD COMDTY)

While Commodities sold off - we made profits // Some relief on the sugar front

As you can see, our YTD performance has clearly picked up, and we’re confident that we'll continue to clearly outperform the CRB Commodity Index.

The Commodity Report

Recession fears scare commodities again & World Banks forecasts major drop

In its latest Commodity Markets Outlook report the World Bank said last week that global commodity prices are expected to decline this year at the...

The Commodity Report

Don’t Get Fooled by the Tight Inventory Narrative - Economic Situation Continues to Worsen

If you want to be precise - you could even make the case that excessive lows in the LME copper inventory data actually mark cyclical highs in the...

The Commodity Report

Between Chilean Copper Woes & Brazilian Sugar Rush

As the new season commences in April, Brazil is predicted to manufacture 40.3 million tonnes of sugar, marking the second highest yield ever recorded.

The Commodity Report

Ignoring Tailwinds

The US 10-year rates futures had rallied for six consecutive days while Growth and Momentum stocks lagged. Wednesday was a marked change, with...

Untying The Gordian Knot

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)