Metals, Ores, and Mining Firms, Mint Finance

Pranay Yadav

Metals, Ores, and Mining Firms

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Cross Asset Strategy

<ul>
<li>Latest WASDE report reaffirmed market’s bearish outlook. Inventories of corn, wheat, and soybean are ample.</li>
<li>Asset managers are positioned heavily bearish on corn, wheat, and soybean. Wheat positioning is the least bearish.</li>
<li>Futures for corn, wheat, and soybean fell after WASDE release with corn futures underperforming. </li>
</ul>


Latest WASDE report reaffirmed market’s bearish outlook. Inventories of corn, wheat, and soybean are ample.
Asset managers are positioned heavily bearish on corn, wheat, and soybean. Wheat positioning is the least bearish.
Futures for corn, wheat, and soybean fell after WASDE release with corn futures underperforming. 


[Counting Beans #5]: January WASDE Reaffirms Market’s Bearish Outlook

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

<ul><li>Markets are pricing in heavy cuts for next year as inflation keeps coming in soft, making a soft landing the base case for the bulls, but everything comes at a price.</li><li>But how are assets likely to perform if the market narrative is correct and yields will indeed come down in a continued bull-steepening fashion, which in our view is the most likely scenario in H1 2024?</li><li>We have pulled out some of our cross-asset beta studies from our data-library to provide you with an overview of how assets perform during various yield curve regimes.</li></ul>

Markets are pricing in heavy cuts for next year as inflation keeps coming in soft, making a soft landing the base case for the bulls, but everything comes at a price.But how are assets likely to perform if the market narrative is correct and yields will indeed come down in a continued bull-steepening fashion, which in our view is the most likely scenario in H1 2024?We have pulled out some of our cross-asset beta studies from our data-library to provide you with an overview of how assets perform during various yield curve regimes.

Bull Steepening Watch – Is Lower Yields Really What Risk Assets Want?

Political Analyst | Steno Research, Steno Research

Anne Sandager

Political Analyst | Steno Research

<ul>
<li>On Wednesday, the European Commission made a formal recommendation to start EU membership negotiations with Ukraine and Moldova.</li>
<li>Ukraine is thereby catching up to countries such as Montenegro, Serbia, and North Macedonia whose accession processes have been underway since the 00s.</li>
<li>Accepting Ukraine with a population of 43,79 million into the EU will be the end to the Union as we know it.</li>
</ul>


On Wednesday, the European Commission made a formal recommendation to start EU membership negotiations with Ukraine and Moldova.
Ukraine is thereby catching up to countries such as Montenegro, Serbia, and North Macedonia whose accession processes have been underway since the 00s.
Accepting Ukraine with a population of 43,79 million into the EU will be the end to the Union as we know it.


EUROPOLITICS WATCH: Opposition Victory in Poland Opens Door for Ukraine in the EU?

<ul><li>Welcome to another one of our short nuggets, where it’s all about the charts and short conclusions! Today we will briefly dig into the world of commodity inventories, which despite tightness doesn’t seem to matter unless demand surprises positively to the upside.</li><li>Something tells us that’s exactly what’s gonna happen.</li><li>We will mainly focus on industrial metals and grains, whereas energy inventories will be covered in our weekly Energy Cable / EIA Watch.</li></ul>

Welcome to another one of our short nuggets, where it’s all about the charts and short conclusions! Today we will briefly dig into the world of commodity inventories, which despite tightness doesn’t seem to matter unless demand surprises positively to the upside.Something tells us that’s exactly what’s gonna happen.We will mainly focus on industrial metals and grains, whereas energy inventories will be covered in our weekly Energy Cable / EIA Watch.

Inventory Nugget – How Are World Inventories in Metals and Grains Looking?

Geopolitical Analyst, Steno Research, Steno Research

Mikkel Rosenvold

Geopolitical Analyst, Steno Research

<ul><li>It’s finally time to turn our eyes back to Ukraine in this series – and we have a lot to talk about! Will Ukraine hold presidential elections next year and what about that Zaluzhny interview?</li><li>The Ukrainian summer offensive has been an almost complete failure with very few advances made.</li><li>General Zaluzhny – the Ukrainian commander-in-chief – admitted as much in a recent interview with the Economist and asked for a reversed strategy – more on that later.</li></ul>

It’s finally time to turn our eyes back to Ukraine in this series – and we have a lot to talk about! Will Ukraine hold presidential elections next year and what about that Zaluzhny interview?The Ukrainian summer offensive has been an almost complete failure with very few advances made.General Zaluzhny – the Ukrainian commander-in-chief – admitted as much in a recent interview with the Economist and asked for a reversed strategy – more on that later.

Great Game – 3 Key Predictions for the Ukraine War in 2024

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Wheat (W A COMDTY)

[Counting Beans #5]: January WASDE Reaffirms Market’s Bearish Outlook

The latest WASDE report reaffirmed market’s bearish outlook. Market metrics are positioned for Soybean, Wheat, and Corn prices to decline from...

Mint Finance

Bull Steepening Watch – Is Lower Yields Really What Risk Assets Want?

Let’s run through each asset class to see where to put your eggs if a bull-steepening of the yield curve continues into 2024.

Steno Research

EUROPOLITICS WATCH: Opposition Victory in Poland Opens Door for Ukraine in the EU?

The support of Poland will be key for Ukraine heading into negotiations with the EU. The Polish election on Oct 15th enjoyed significant...

Steno Research

Inventory Nugget – How Are World Inventories in Metals and Grains Looking?

elcome to another one of our short nuggets, where it’s all about the charts and short conclusions! Today we will briefly dig...

Steno Research

Great Game – 3 Key Predictions for the Ukraine War in 2024

Will Ukraine hold presidential elections next year and what about that Zaluzhny interview? The Ukrainian summer offensive has been an almost...

Steno Research

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