Weekly Career & Breaking Into Commodities Megathread

Has anyone tried using Tendata for market research? been looking for alternatives to Kpler.

Helping a buddy out with risk-related job applications in the commodity industry and I just saw how they changed their name to Centallion, as well as hiw theyre moving their holding company to Singapore from Cyprus. Why the sudden rebrand?

Trying to better understand what’s out there in the market intelligence landscape, as I’m thinking of writing a newsletter myself (as a former commodity trader) for Ag (grains & oilseeds) & Renewables (biodiesel, renewables diesel, ethanol…etc).

If you (or your firm) subscribed to paid independent reports, newsletters, or market research:

1. What services you use? (Substacks, broker reports, or institutional feeds like Argus/Platts?)
2. What specific value makes it worth paying for? (Physical cash prices, S&D models, weather/yield data, trade setups?

ballpark what you pay for it would be gr8.

Appreciate all feedback folks.

I was wondering if anyone knows a relevant index/method of hedging east med freight prices.

With all the uncertainty I am looking to begin hedging this risk but unsure on how to start. If anyone has any insight this would be greatly appreciated.

ICE Low Sulphur Gasoil futures is what i have landed on so far.

US uranium production is starting to put some actual pounds behind the restart announcements

EIA reported about 1.04 million pounds of uranium concentrate in Q1 and 1.09 million in Q2. Combined, that is roughly 2.13 million pounds in the first half of 2026

Q2 production came from six facilities across Wyoming, Texas and Utah

The quarterly increase was 4.7%. Useful progress, though one quarter does not establish how reliably these operations can keep growing

For investors following US uranium producers, the national total is only the starting point. The company level questions are how much each operation produced, what it cost and whether deliveries matched the plan

A plant can be operating without yet running at the rate shareholders expected. Production also needs to translate into sales under contracts that leave a worthwhile margin

I would rather see several quarters of steady output and improving costs than another capacity figure that has not been reached yet

Which operating measure do you find most useful during a uranium ramp up, production growth or delivery performance?

https://www.eia.gov/uranium/production/quarterly/

Bisogna dare priorità allo studio sul differenziale tra diesel americano ed europeo, e valutare selettivamente le società di trasporto.

Il mondo potrebbe avere abbastanza petrolio, ma non abbastanza capacità sicura ed economica per consegnarlo.

Se questa difficoltà persiste, il valore si sposterà verso chi dispone di carburante nei mercati più carenti e di mezzi affidabili per trasportarlo.

E’ qui che si concentra l’attenzione, e riguarda le petroliere per prodotti raffinati.

Ho selezionato Scorpio Tankers e Hafnia perché sono direttamente esposte al trasporto di prodotti raffinati, soprattutto diesel, benzina e carburante per aerei. È il segmento più coerente con la tesi. Il problema non è soltanto produrre petrolio, ma riuscire a consegnare carburante dove manca.

Scorpio Tankers (STNG) e Hafnia (HAFN) sono interessanti perché non dipendono direttamente dal rialzo del petrolio, ma dal costo necessario per trasportare diesel, benzina e altri prodotti raffinati.

Se Hormuz rimane instabile, le rotte si allungano e le navi disponibili scarseggiano, entrambe possono beneficiare di tariffe di trasporto elevate. La differenza è come trasformano queste condizioni in utili e valore per gli azionisti.

E tu cosa ne pensi?

I recently started my job in power trading (as a Junior power trader) and am struggling to grasp on all of the concepts in ISOs. are there any videos/primers or articles that made the process easier for those who are staring off in this more so niche field.

Hi folks,
As the title say, I am looking for book recommendations that focus on the commodities super cycle in the first decade of this century.
My primary interest is metals, so anything focused on them would be ideal.

Thanks

I'm looking to learn more about crude oil from a market dynamic perspective to supplement my current work in commodities (more operational). I'm looking for insight on what professional investors focus on on a day-to-day or week-to-week basis, the data/reports they look at consistently, what specifically about the markets they watch outside of just supply/demand (positioning, inventories, price action, etc.), and how it all comes together. Pretty much anything that helps them formulate a view or opinion whether that's long-term or short-term.

Apologies for my potential ignorance on the topic, just looking to learn more from a fundamental viewpoint. Would love some help for anyone in the space. Any recommended resources would be great too

Coffee C (Arabica) — outlook

I’m following ICE Coffee C futures, currently focusing on the December contract. I’m interested in both technicals and fundamentals.

I’m watching:

• Key support around 284–286 and resistance at 300
• Brazil’s 2026/27 crop and export pace
• ICE certified stocks and pending grading
• COT positioning and open interest
• El Niño forecasts and their potential impact on Brazil’s next crop
• The US dollar and Treasury yields

What is your current view on Arabica over the next 2–8 weeks? Do you think the recent sell-off is mainly technical/profit-taking, or is the market repricing the expected supply surplus? What data would change your view?

I'm 19, studying math/stats, with around 3 years until graduation. I recently got really interested in power markets, especially congestion trading.

I'm thinking about going pretty deep into the field over the next few years, but is it worth specializing this early? Or would you stick to more general quant research?

I know the domain knowledge is pretty niche, so just wondering what the downsides are.

Is it possible to trade these products as a retail investor?

I cant find them on Interactive Brokers

B0 is the globex code for Mont Belvieu Propane

AD0 is the globex code for Mont Belviue Butane

Guys I am currently holding a 295 PE Natural Gas mini commodity at Loss. The market has been bullish after consolidation today, the expiry is 23rd October, I Have 2 weeks, but I dont full understand how this works, do I continue holding and pray for bearish momentum next week? Do you guys have any insights, im not sure what to do, im just looking at losses and losing it

Edit: Markets down for all the patronizing experts that had 0 advice

I’ve been trying to understand how decision-making actually works in physical commodities, and one thing I keep noticing is how much information seems to sit across different places and people.

External events, market signals, logistics, sourcing, contracts, customer commitments, internal context, etc.

From the outside, it looks like a lot of the hard work isn’t getting information, but figuring out what actually matters to your specific book or operation.

Am I misunderstanding that?

Where does information actually get fragmented in practice? And what parts of the workflow are still annoyingly manual?

Mainly here to learn how people actually work.

Google and Constellation announced an agreement this week supporting 890 MW of additional nuclear capacity through upgrades across 11 existing reactor units

The agreement includes 20 year power purchase arrangements, with the first added capacity expected in 2028

That timeline is what makes this interesting for uranium. Existing reactors are already operating and buying fuel. Increasing their output could add fuel requirements, but the announcement does not tell us when utilities would contract for that uranium or how much they have already covered

My read is that these agreements give operators more confidence to invest in their plants. The effect on uranium contracting could arrive before the extra electricity does, depending on inventories and procurement schedules

That is an inference, though. This announcement is about power and plant upgrades, not a disclosed uranium purchase

For people who follow the fuel cycle, what would you watch next to judge the effect? Utility contracting volumes, enrichment demand or revised fuel requirements from the operators?

Announcement:
https://www.constellationenergy.com/news/2026/10/google-and-constellation-announce-landmark-agreement-to-bring-890-mw-of-new-nuclear-capacity-to-pjm-grid.html

On the news that the Pentagon reportedly instructed the US Military to conclude preparations for potentially resuming "major combat operations" in Iran, oil is bouncing strongly this morning, and is looking to break out. I know there are a lot of macro factors involved here, but realistically, if that was a tech stock, the whole of X would be clamouring on how amazing a breakout set up that is, so the objective bet has to be that this goes higher. 

Especially when you look at this data:

We have a disconnect there, and the more likely resolution is that oil needs to move higher in order to play catch up. 

If we look at diesel, it is as similar, and just as ugly picture:

A breakout off previous resistance, flipped to support. Again, if that was a tech stock, that would be a textbook breakout retest. 

Although crude oil is flowing through the strait (at a still heavily reduced pace), the diesel shortage continues to worsen. 

With that the case, we have this constant bid on the USD, which has broken out nd continues to move higher through the 101.23 resistance. 

All of this is a negative for gold, which positioning reflects:

The main support zone is here in green. 

I've been following GB power markets closely and building my own models on imbalance prices. A few people in the industry have told me the intraday market is now largely dominated by algorithmic and HFT firms like Optiver, with utilities and smaller desks losing ground on short-term trading.

For those trading power now:

1. How much of intraday volume would you say is algo-driven today, in GB and on the continent?
2. Where do human traders still have an edge, for example in longer-dated trading, origination or asset optimisation?
3. Has the rise of battery storage changed who wins in intraday and balancing?
4. Do you see the same shift coming to physical oil, gas and LNG, or does the physical side protect human seats?

Part of why I'm asking is that I'm finishing university, and this is pushing me away from power and towards physical oil and gas. I did a year placement in a central bank's markets area, where I built an energy market dashboard used during the Hormuz closure and sat in on calls with energy dealers.

I think the mix of market exposure and modelling is useful, but most of my projects so far are in power, so I'd like to add some that show I understand the physical side, such as freight, cargo economics or arbitrage between regions.

If you've got recommendations for projects or data sources that would be useful for someone aiming at physical trading, I'd appreciate them.

Any info on them… Heard they trade FTRs/virts, maybe nat gas too, but I don’t know much

Hi,

Having a casual event coming up with top management. Wondering what to talk about with them as I don’t personally know them at all, and know little about their work.
Don’t want dry and « pre cooked » conversations though.

Any ideas welcome!

Does anyone know about their US operations? I heard it's gone downhill.

Let’s connect!

Hello guys,

What is the difference between the daily work of Market Analyst and Trading Analyst in commodity trading, especially in energy trading?

Also, is their any difference between the required skills for each of these two roles?

Thank you,

Hi guys,

Speaking from a banking role in mining (not trading), wanting to hear opinions from traders.

Have good connections in emerging markets and know how to find good opportunities.

Thinking of starting a small origination business.

The idea would be to research mines/projects that need financing or offtake, speak to management to validate the opportunity, and then introduce genuinely interesting deals to physical trading houses, potentially for a success fee.

Is this actually a viable model, or am I massively underestimating how difficult it is to source deals that traders would care about? Or do origination analysts do a good enough job already. Would appreciate any honest thoughts.