Speakers:

Natasha Kaneva, Head of Global Commodities Research

Tracey Allen, Head of Agricultural Commodities Research

Gregory Shearer, Head of Base and Precious Metal Research

We believe the recent pullback in commodities is just that—a pullback—and we continue to see a 10% appreciation in the broader BCOM Commodities index by year-end. Underpinning our constructive BCOM and sectorial recommendations is the expectation that in addition to supportive fundamentals over the next two and a half months commodities would be likely exposed to a confluence of forces, among them weather-related volatility and pests, but also European Parliamentary elections, China’s Third Plenum and the onset of the Fed’s rate cutting cycle.

This podcast was recorded on 21 June2024.

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