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>Traders are hunting hard for short opportunities in commodities right now.</li><li>With the momentum carrying so many markets, that’s a thankless job: selling into a live trend costs you nerves and usually money.</li><li>The grain market, though, could soon offer a cleaner setup – reason enough to take a dedicated look here.</li></ul>

Traders are hunting hard for short opportunities in commodities right now.With the momentum carrying so many markets, that’s a thankless job: selling into a live trend costs you nerves and usually money.The grain market, though, could soon offer a cleaner setup – reason enough to take a dedicated look here.

Where the Short Sits in Grains – and Where It Doesn’t

<ul><li>A strong El Niño is forming in the Pacific, with over 90% probability for the rest of 2026.</li><li>Here is a plain-English look at what is happening, which crops are most at risk, and what to watch in the coming months.</li><li>El Niño is a recurring climate pattern in which the central and eastern tropical Pacific Ocean becomes warmer than usual. </li></ul>

A strong El Niño is forming in the Pacific, with over 90% probability for the rest of 2026.Here is a plain-English look at what is happening, which crops are most at risk, and what to watch in the coming months.El Niño is a recurring climate pattern in which the central and eastern tropical Pacific Ocean becomes warmer than usual. 

El Nino is Coming! - What it Means for Commodity Prices in 2026

<ul><li>*YTD our absolute return strategy is up 12,0% Diamonds Are Cheap Diamond prices have fallen to their lowest level this century!</li><li>Diamond prices are currently low due to a combination of factors including decreased demand, increased supply of lab-grown diamonds, and fewer marriages.</li><li>Lab-grown diamonds used to take weeks to make but can now be grown in a few hours, compared with billions of years for natural stones.</li></ul>

*YTD our absolute return strategy is up 12,0% Diamonds Are Cheap Diamond prices have fallen to their lowest level this century!Diamond prices are currently low due to a combination of factors including decreased demand, increased supply of lab-grown diamonds, and fewer marriages.Lab-grown diamonds used to take weeks to make but can now be grown in a few hours, compared with billions of years for natural stones.

Diamonds Are Cheap & Seasonality Headwinds for Soybeans

Geopolitical Analyst, Steno Research, Steno Research

Mikkel Rosenvold

Geopolitical Analyst, Steno 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>All across the world, people are worried about Donald Trump and the uncertainty he will bring to the global order.</li><li>For macro investors particularly, Trump has proven a continuing headache with his weekly insistence on pushing out tariffs news or other bombshells late Friday.</li><li>This past week-end was not exception with Trump’s remarks on reciprocal tariffs and potential tariffs on aluminium and steel.</li></ul>

All across the world, people are worried about Donald Trump and the uncertainty he will bring to the global order.For macro investors particularly, Trump has proven a continuing headache with his weekly insistence on pushing out tariffs news or other bombshells late Friday.This past week-end was not exception with Trump’s remarks on reciprocal tariffs and potential tariffs on aluminium and steel.

The Drill – What will world peace mean for markets?

<ul><li>CTA Update Last week, the research division of UBS shared an update on the positioning of CTAs.</li><li>Contrarian' trades: bullish Energy, Cattle Feeder, Lme Lead and Lme Nickel, bearish Coffee, Cocoa, Platinum and Palladium</li><li>Go with momentum' trades: bullish Lme Tin, Copper, Gold and Lean Hogs, bearish Soybean, Soybean Meal, Wheat and Corn Hurricane Milton and Orange Juice Prices Orange juice futures rose as Hurricane Milton approached Florida throughout the week.</li></ul>

CTA Update Last week, the research division of UBS shared an update on the positioning of CTAs.Contrarian' trades: bullish Energy, Cattle Feeder, Lme Lead and Lme Nickel, bearish Coffee, Cocoa, Platinum and PalladiumGo with momentum' trades: bullish Lme Tin, Copper, Gold and Lean Hogs, bearish Soybean, Soybean Meal, Wheat and Corn Hurricane Milton and Orange Juice Prices Orange juice futures rose as Hurricane Milton approached Florida throughout the week.

Hurricane Milton and Orange Juice Prices // CTA Update

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Soybean Meal (SM A COMDTY)

Where the Short Sits in Grains – and Where It Doesn’t

With the momentum carrying so many markets, that’s a thankless job: selling into a live trend costs you nerves and usually money.

The Commodity Report

El Nino is Coming! - What it Means for Commodity Prices in 2026

A strong El Niño is forming in the Pacific, with over 90% probability for the rest of 2026. Here is a plain-English look at what is happening,...

The Commodity Report

Diamonds Are Cheap & Seasonality Headwinds for Soybeans

YTD our absolute return strategy is up 12,0% Diamonds Are Cheap Diamond prices have fallen to their lowest level this century!

The Commodity Report

The Drill – What will world peace mean for markets?

All across the world, people are worried about Donald Trump and the uncertainty he will bring to the global order. For macro investors...

Steno Research

Hurricane Milton and Orange Juice Prices // CTA Update

Contrarian' trades: bullish Energy, Cattle Feeder, Lme Lead and Lme Nickel, bearish Coffee, Cocoa, Platinum and Palladium

The Commodity Report

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)