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  • Article / 10 November 2017 at 13:58 GMT

    WCU: Commodities gains led by strong energy sector

    Head of Commodity Strategy / Saxo Bank
    Denmark
    WCU: Commodities gains led by strong energy sector
    The Bloomberg Energy Index reached a 10-month high as the sector continues to attract attention and demand. The approach of winter saw natural gas break out of its months-long range, while crude oil rose for a fifth consecutive week with heightened geopolitical risks being the main driver of the latest gains.
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    13 November
    Ole Hansen Ole Hansen
    Gold remains stuck and the lack of upside momentum carried the risk of long liquidation below $1280/oz. Without much news to support the move this was what...
    13 November
    carlosdemarch carlosdemarch
    great report Ole! keep it up
  • Squawk / 09 November 2017 at 14:06 GMT
    Head of Commodity Strategy / Saxo Bank
    Denmark
    The US Department of Agriculture will release its monthly supply and demand estimates (WASDE) today at 1700 GMT. Is expected to show a bigger US corn yield leading to biggest stock since 1988. Soybeans yield and production probably declined while a global rush to unload wheat could trigger a reduction in world stocks.
    Attached WASDE expectations as well as the latest speculative fund positions from the week to October 31.
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    10 November
    Ole Hansen Ole Hansen
    Bearish WASDE report with Dec Corn hitting a fresh contract low as stocks surge to a 30-year high. Soybeans also traded sharply lower while wheat recovered...
  • Article / 06 November 2017 at 8:26 GMT

    COT: Oil longs most stretched since March

    Head of Commodity Strategy / Saxo Bank
    Denmark
    COT: Oil longs most stretched since March
    Hedge funds continued the rotation out of grains and metals into energy during the week to October 31. The combined net-long across oil and products jumped to their highest since February, especially driven by strong oil demand. Outside oil and products major reductions were seen in natgas, silver, corn and wheat while sugar and cattle were bought.
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    06 November
    matsuri matsuri
    "this is madness" - it is how I can describe the situation on oil. I am waiting for the trigger to bring oil down back towards $50...
  • Article / 03 November 2017 at 14:04 GMT

    WCU: Oil maintains momentum; gold finding support

    Head of Commodity Strategy / Saxo Bank
    Denmark
    WCU: Oil maintains momentum; gold finding support
    Commodities powered to an eight-month high thanks to continued rallies by energy and industrial metals despite this being a week that was packed to the brim with risk events. Brent crude reached and breached the psychologically important $60/b level for the first time since 2015 while silver outshone gold.
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    03 November
    Daniel CN Daniel CN
    What about the macro call for oil dropping to 25 USD/barrel? Still in place even with huge headwinds to evs and current priceaction?
    06 November
    chi2015 chi2015
    great stuff Ole
  • Article / 01 November 2017 at 13:29 GMT

    Wheat tumble sees spread to corn returning to August low

    Head of Commodity Strategy / Saxo Bank
    Denmark
    Wheat tumble sees spread to corn returning to August low
    CBOT wheat, both ZWZ7 and ZWH8 tumbled to fresh contract lows yesterday on technical selling and continued strong competition on the global export market. Corn, meanwhile, has managed to stay within its established range and is to a certain extent being supported by rising ethanol prices in response to rising oil prices.
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