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1068 days ago

China is stockpiling soft commodities like never before, pushing prices to the roof.

China is stockpiling agricultural commodities. E.g corn imports in last quarter were more than the imports in last financial year. Meanwhile, the US, which is the largest Agriculture exporter in the world is going through “severe drought conditions”. Consequently, wheat, soya bean prices are touching 7-8 years high. The reason why China is stockpiling so much when the prices are already rising rapidly is not clear. One explanation could be that they are going though severe drought as well (think about climate change). Bottom-line: it seems that other Emerging Market countries will have to sacrifice growth to contain food inflation. Last but not least, let's keep in mind that 10 years ago, Arab Spring started in part due to rising food prices. So maybe we should get prepared for similar types of social unrest and instability if food prices continue to soar. Source: Ritesh Jain, China Customs 

#Commodities
China customs numbers on Agriculture imports

1068 days ago

Deepest backwardation since 2017 shows the world is short on Commodities

Source: Bloomberg 

#Commodities
Commodity backwardation rate

1068 days ago

So far, there has been just one direction for commodities

Source: Bloomberg 

#Commodities
Selected commodities performance

1070 days ago

Copper hits $10,000--highest level since 2011

''Copper is used in everything from household appliances to electric vehicles and wind turbines. As the most cost-effective conductive metal, it is expected to play a crucial role in the shift away from hydrocarbons to more sustainable sources of energy, including solar and wind.'' Freeport McMoRan is the world's largest publicly traded copper company. Their CEO said demand is seeing a surge and higher prices will continue to meet needs and constraints.

#Commodities

1071 days ago

Shell shows improved profitability and in Q1, pays down debt

First-quarter adjusted net income was $3.23 billion, up from $2.86 billion a year earlier. Shell started share buybacks in large part due to strong earnings tied with natural as trading from the big freeze in Texas.

#Commodities
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