What to Watch in Commodities: Virus, Oil, Copper, Iron Ore, IEA
- Agency’s report on global crude market; corn in focus in WASDE
- Copper in backwardation on Chile risk; Barry Callebaut reports
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Commodity investors get vital insights into energy, metals and crop markets this week against a backdrop of better-than-expected economic data and countervailing concern over the jump in coronavirus infections. Global confirmed cases are now rising by well over 1 million per week, casting doubt over expectations raw materials demand will rebound.
The International Energy Agency leads the line-up with its monthly overview of the worldwide oil market as OPEC and allies ratchet back supplies. Crop traders will dissect the latest WASDE snapshot, with corn a particular focus. And metals markets are primed for more virus-related disruptions in Chile, which may aid copper, as well as signals of booming iron ore flows, which may hurt prices.