4-6 Marc Ostwald Germany:


16-17 Rohan Ziegelaar


The Merkel Legacy The volume of post-mortems about Angel Merkel’s decision to stand down as leader of the CDU may have been rather too plentiful, especially as it is her intention to remain as Chancellor until the scheduled end of this legislature in 2021. Nevertheless it offers an opportunity to take stock of where the German economy stands, and how the political landscape has changed.


8-9 Andy Ash


Slow Boat to China... Copper has many uses in construction, from electrical to plumbing to heating to roofing, but its role as a funding vehicle really came to the fore after China introduced a round of macro controls to counter the rapid rise in house prices in 2009-2010. Bank lending to the housing industry peaked above RMB 2 trillion in 2010 (6.83RMB =$1 in late 2009), falling towards RMB 1.3 trillion in 2011 and 2012, and the industry tried to make up the shortfall.


18-19


Oil: A Slippery Slope Crude Oil has suffered an epic collapse.


From mid-October to mid-November it has lost a quarter of its value from a 52-week high. This fall, in terms of speed, is up there with the greatest in its history. By mid-November the RSI (relative strength indicator) of Crude had fallen to its lowest level since the inception of futures contracts, in 1983.


10-11 Eddie Tofpik NASDAQ Commodities


Alan Bush A Likely Less Hawkish FOMC in 2019 and Stock


24-27 Blu Putnam 2019:


A Transformational Year? To appreciate why 2019 may become a transformational year, one needs to carefully examine the tremendous change in 2018.


28-29 Alberto Peixoto Can You Have The Cake


Index Futures Since December 2015, the Federal Open Market Committee has increased its fed funds rate a total of eight times by 25 basis points each time to the current level of 2.00% to 2.25%.


20


Loses its Aas... ‘Never yet has a simple headline presented itself and waited for me to write a story...until now!’


12-13 Lauren Judd The Power Of Social Media On Commodity Driven


About ADMISI 21


and Eat It? Since September, the sugar market has improved from very low and, most likely, unsustainable levels. We are currently experiencing a series of crop downgrades which are tilting the Sugar World close to a deficit in April/ March 2018/19, the impact of which will likely be felt further down the road i.e. in October/September 2018/19.


30-31 Terry Roggensack Soybean Trade Optimism Doesn’t Overcome


The Ghost In The Machine Library


Business Facebook’s Mark Zuckerberg has been quoted as saying “by giving people the power to share, we’re making the world more transparent”. Ideas are now no longer controlled by a person or a company, but by what others say or share about them.


14-15 Howard Jenkins


22-23 Wole Olufunwa Adjusting accordingly How Bunker Adjustment Factor Clauses May Mitigate


Huge Supplies Ideas that the upcoming meetings between the US and China will only establish an agreement to a framework for further talks came as a disappointment to the soybean market bulls who were hoping for a lot more.


32-35 Beth Bradley A Practical Overview of the


the Impacts of IMO 2020 Following the IMO’s decision to implement amendments to MARPOL ANNEX VI (“IMO 2020”), the cost of compliant fuels is likely to rise. How will the cost and risk of price volatility be borne in the global logistics chain? We explore a legal device commonly found in voyage charters and contracts of affreightment attempting to address price volatility: BAF clauses.


A Brief History of the Funds There is an old adage in the futures industry that for every hedge trade there is a speculative trade on the other side. Although a huge generalisation there is an element of truth in the saying. Consumer buying and producer selling rarely meet so it is the trade and speculators who help facilitate the trades.


3 | ADMISI - The Ghost In The Machine | November/December 2018


IMO 2020 Sulphur Cap Sulphur Cap Series: Part 1 - Scope of the Regulation and the Risks of Non-Compliance


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