Despite a nearly 11% rally in gold since mid-August, sentiment is still largely bearish. Historically this proves to be a good contrarian buy signal.... Read More
Soybean prices are lagging other grains as we move into the heart of harvest season. Disappointment at soybean prices has tariffs and the trade war back in the minds of midwestern farmers. ... Read More
Both physical gold and miner ETFs have seen net outflows in September.... Read More
The divergence between net flows between physical gold and miner-backed funds is at its widest since 2013. Despite some positive shifts in search trends, gold bulls are counting on help from a weaker U.S. dollar or a national security scare. ... Read More
Speculators have moved to an extreme net short position in soybean futures as tariffs have taken their toll. Have they gone too far?... Read More
Gold may be in for a reprieve after converging with fair value. But ETF flows and positioning in futures markets paint an interesting picture about who is bullish. ... Read More
Speculators are betting against precious metals to a degree rarely seen.... Read More
Bad news outweighs the good news for gold longs. Despite extreme short positioning and slowing net outflows from gold ETFs, we continue to see downside risks. ... Read More
Energy has been one of the few bright spots for commodities this year. Ex-energy commodities have rarely seen such poor returns.... Read More
Broad commodity weakness threatens to undermine confidence in Southeast Asia just as economic growth improved. Signs of optimism in Australian search trends will be tested. ... Read More
For now, falling prices for industrial metals and agricultural commodities have not put much of a dent in our global growth estimate. This is consistent with our belief that the trade wars are the side-show to slowing economic growth in key regions like Europe and Southeast Asia. ... Read More
Disruptions in Libya are old hat, but another major outage in Canada will be a windfall for some U.S. shale producers. ... Read More
Grains and other agricultural commodities are reeling as trade tensions escalate between the U.S. and China. Chinese tariffs on soybean imports could be devastating for politically critical regions in the rust belt. ... Read More
Consumer and investor interest in gold continued to fall over the past month. Net outflows from physical gold ETFs are accelerating and the outlook for the precious metal looks precarious. ... Read More
A look at commodity total returns this year... Read More
A look at spot and inflation-adjusted gold prices since 1900... Read More
Falling search trends for financial markets and news is bearish for gold. ... Read More
Commodity returns since the Fed hiked in December 2017... Read More
Charts that are near extremes and caught our eye this week... Read More
Don't forget about roll yields when investing in commodity futures.... Read More