Highlights In line with our House view, we expect the broad USD trade-weighted index (TWIB) to continue to appreciate over the next six to 12 months, as U.S. growth outpaces that of other DMs, and the Fed's pace of rate hikes outpaces…

Highlights Feature Chart of the WeekAg Vol Will Rise  Over the coming three months markets will be zeroing in on spring planting in the U.S., looking for deviations from the USDA's March intentions report. This will occur…

Highlights Escalating trade tensions - most notably between the U.S. and China, and the U.S. and its NAFTA partners - threaten the outperformance ags posted in 1Q18, which was driven by unfavorable weather and transportation disruptions…

Highlights Agricultural markets are informationally efficient for the most part, which is to say that at any given time, prices already reflect most public information available to traders, and a lot of private information as well. Even…

Highlights The uptick in world oil demand in the wake of a strengthening global upturn - the first since the Global Financial Crisis (GFC) - coupled with continued production discipline by OPEC 2.0, will accelerate inventory draws, and…

Special Report

Highlights 2017/18 fundamentals are supportive for corn. Lower production and stronger demand will put the market into a deficit. China's E10 mandate is a boon for ethanol, and the ags used to produce it. Imports will be needed in…

Highlights China's supply-side structural reforms will focus mainly on its coal and steel markets this year. In addition, environmental policies will become stricter in 2017, as Beijing puts more weight on environmental protection…

Highlights The tactical environment is dynamic, chaotic and unpredictable. ...Chaos also brings opportunity. We must recognize and exploit opportunities when chance presents them. Look for recurring patterns to exploit.1 Feature…

Dear Client, We are pleased to present our 2017 Outlook for Grains & Softs, covering corn, wheat, soybeans and rice in the grain markets, and cotton and sugar. This is our last regular Weekly Report for the year. You should have…

Feature Happy Thanksgiving to all our U.S. clients. We wish you the best the holiday has to offer, as you share blessings with friends and family. In this holiday-shortened week, we are publishing a joint report with our colleagues at…