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>YTD our absolute return strategy is up 10,6% The Egg-Price-Bubble Has Busted!</li><li>The price of a dozen eggs in the US has crashed from $8 to $2,5 within five months - highlighting extraordinary volatility in the egg market.</li><li>For context: The rise of egg prices can be primarily contributed to the ongoing avian influenza (HPAI) outbreak that began in 2022.</li></ul>

YTD our absolute return strategy is up 10,6% The Egg-Price-Bubble Has Busted!The price of a dozen eggs in the US has crashed from $8 to $2,5 within five months - highlighting extraordinary volatility in the egg market.For context: The rise of egg prices can be primarily contributed to the ongoing avian influenza (HPAI) outbreak that began in 2022.

<ul><li>Investments in commodities and gold as a percentage share of family offices money remain very little, as this year’s Global Family Office Report by UBS shows.</li><li>When asked how they are defying the volatile environment, respondents most frequently cite the selection of managers and/or active management (40%), followed by hedge funds (31%).</li><li>Almost as many family offices are increasing their holdings of illiquid assets (27%) and more than a quarter (26%) are focusing on high-quality bonds with short maturities. </li></ul>

Investments in commodities and gold as a percentage share of family offices money remain very little, as this year’s Global Family Office Report by UBS shows.When asked how they are defying the volatile environment, respondents most frequently cite the selection of managers and/or active management (40%), followed by hedge funds (31%).Almost as many family offices are increasing their holdings of illiquid assets (27%) and more than a quarter (26%) are focusing on high-quality bonds with short maturities. 

<ul><li>This chart from Sentiment Trader highlights that also gold stocks are quite stretched - which isn’t a sell signal, as a stretched market can always become more stretched.</li><li>Note: We’re long the June contract of Gold since mid of March</li><li>Another interesting thought regarding gold demand going forward: if AI models really become more efficient and less data center usage is needed, demand for gold in tech could be affected as well.</li></ul>

This chart from Sentiment Trader highlights that also gold stocks are quite stretched - which isn’t a sell signal, as a stretched market can always become more stretched.Note: We’re long the June contract of Gold since mid of MarchAnother interesting thought regarding gold demand going forward: if AI models really become more efficient and less data center usage is needed, demand for gold in tech could be affected as well.

<ul><li>President Trump triggered turmoil in the stock and bond markets, sent shockwaves through the global economy, and claimed the U.S. would eliminate the national debt using trillions supposedly generated from his tariffs.</li><li>Just earlier this week, he declared he wouldn’t make a zero-tariff deal with the EU — and now, without any real change in circumstances, he’s suddenly starting to back down.</li><li>Trump dropped his country-specific tariffs down to a universal 10% rate for all trade partners except China on Wednesday - for a limited time period of 90 days - presumably to have more time to make deals with each country.</li></ul>

President Trump triggered turmoil in the stock and bond markets, sent shockwaves through the global economy, and claimed the U.S. would eliminate the national debt using trillions supposedly generated from his tariffs.Just earlier this week, he declared he wouldn’t make a zero-tariff deal with the EU — and now, without any real change in circumstances, he’s suddenly starting to back down.Trump dropped his country-specific tariffs down to a universal 10% rate for all trade partners except China on Wednesday - for a limited time period of 90 days - presumably to have more time to make deals with each country.

How Commodities React To Trumps New Global Trade Plans

<ul><li>*YTD our absolute return strategy is up 7,5% Commodities Crash after Trump’s Tariff Nightmare In his mission to re-shore critical industries, raise revenue for the U.S. and narrow the deficit, Trump rolled out aggressive tariffs on virtually all countries (except Russia, Cuba and North Korea).</li><li>The new 10% tariff baseline is roughly triple the average US tariff rate before Trump reclaimed power in January and the calculation behind each tariff rates seems insane.</li><li>“We will charge them approximately half of what they are and have been charging us,” Trump said of the reciprocal tariffs.</li></ul>

*YTD our absolute return strategy is up 7,5% Commodities Crash after Trump’s Tariff Nightmare In his mission to re-shore critical industries, raise revenue for the U.S. and narrow the deficit, Trump rolled out aggressive tariffs on virtually all countries (except Russia, Cuba and North Korea).The new 10% tariff baseline is roughly triple the average US tariff rate before Trump reclaimed power in January and the calculation behind each tariff rates seems insane.“We will charge them approximately half of what they are and have been charging us,” Trump said of the reciprocal tariffs.

Commodities Crash after Trump’s Tariff Nightmare

United States

Natural gas is a naturally occurring hydrocarbon gas mixture consisting primarily of methane, but commonly including varying amounts of other higher alkanes, and sometimes a small percentage of carbon dioxide, nitrogen, hydrogen sulfide, or helium. It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure supplied by existing under the surface of the Earth over millions of years. The energy that the plants originally obtained from the sun is stored in the form of chemical bonds in the gas.

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Natural Gas (NATURAL GAS COMDTY)

The Egg-Price-Bubble Has Busted!

The price of a dozen eggs in the US has crashed from $8 to $2,5 within five months - highlighting extraordinary volatility in the egg market.

The Commodity Report

Family Offices Don’t Like Commodities

Investments in commodities and gold as a percentage share of family offices money remain very little, as this year’s Global Family Office Report by...

The Commodity Report

Sentiment Signal in Gold

This chart from Sentiment Trader highlights that also gold stocks are quite stretched - which isn’t a sell signal, as a stretched market can always...

The Commodity Report

How Commodities React To Trumps New Global Trade Plans

Just earlier this week, he declared he wouldn’t make a zero-tariff deal with the EU — and now, without any real change in circumstances, he’s...

The Commodity Report

Commodities Crash after Trump’s Tariff Nightmare

The new 10% tariff baseline is roughly triple the average US tariff rate before Trump reclaimed power in January and the calculation behind each...

The Commodity Report

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52-week Range

Market Cap (USDm)

P/E

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