Highlights Going into the new crop year, we expect the course of the broad trade-weighted USD to dictate the path taken by grain and bean prices (Chart of the Week). Higher corn stocks in the coming crop year, flat wheat stocks and…
Highlights China’s July Politburo meeting signaled that policy is unlikely to be overtightened. The Biden administration is likely to pass a bipartisan infrastructure deal – as well as a large spending bill by Christmas.…
Highlights The rapid spread of the COVID-19 delta variant in Asia will re-focus precious metals markets anew on the possibility of another round of lockdowns and the implications for demand, particularly in Greater China and India,…
Dear Client, We will be presenting our quarterly webcast next week, and, as a result, will not be publishing on 29 July 2021. We will cover our major calls for the quarter and provide a look-ahead. I look forward to…
Most commodities participated in Monday’s selloff, with the GSCI falling 4% on the day. However, the decline in crude oil prices was particularly pronounced: Brent dropped 6.8% to $68.62/bbl, significantly below $77.16/bbl…
The drive to phase out of conventional oil and gas by policymakers (e.g., the IEA), regulators and climate activists on boardrooms and in courtrooms will reduce the amount of capex going to these energy sources, according to BCA…
Highlights Yield curves have flattened considerably in the major economies since April. Slowing global growth, the perception that the Fed is turning more hawkish, and technical factors have contributed to flatter yield curves.…
According to BCA Research’s Commodity & Energy Strategy service, global oil demand will remain betwixt and between recovery and relapse through 3Q21. The team considers different scenarios of potential demand…
Highlights Global oil demand will remain betwixt and between recovery and relapse through 3Q21, as stronger DM consumer spending and increasing mobility wrestles with persistent concerns over COVID-19-induced lockdowns in Latin America…
Canadian employment growth in June was robust at 231,000, a big improvement over the losses incurred over the prior two months. The latest month’s growth was driven mainly by a 264,000 increase in part-time jobs: full-time…