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Commodity Price Forecast - Wheat: Downward Revisions To Long-term Price Trajectory - 21 AUG 2017

We have revised our price forecasts lower due to above-expected European production in 2017/18 and now anticipate that prices in 2017 will average around 2016 levels. Beyond 2017, prices will peak in 2018 as global market surpluses decline, before averaging slightly lower in the longer term as market surpluses expand slightly.

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Market Strategy - COP To Outperform Alongside MYR, PHP, MXN - 14 AUG 2017

The US dollar's trend remains bearish across the board, but is looking increasingly oversold and is trading increasingly cheap relative to real yield differentials. As such, we hold a relatively neutral view at present. We continue to expect the MYR, PHP, and MXN to outperform relative to EM FX. We have also adopted a view of COP outperformance given the improving fundamental and technical...

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Commodity Price Forecast - Iron Ore: Downward Revision On Cooling Chinese Demand - 22 MAY 2017

We have revised downwards our iron ore price forecast to an average of USD65/tonne in 2017 compared to USD70/tonne previously as Chinese demand for the ore is showing signs of cooling earlier than we expected. Nevertheless, government fiscal support to the infrastructure and construction sectors, despite being weaker than Q117, will ensure steel production holds up in 2017, sustaining demand...

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