Since September, with the introduction of various stimulus policies, China's policymakers made significant efforts, and the growth rate of broad fiscal expenditure and deficit has significantly accelerated.

The US has a huge growing path dependence on the current global economic model, which, in our view, Trump can hardly change. For example, Trump repeatedly advocates "manufacturing back to the US" and "MAGA" starting his first term of office.

For China's exports, Trump's coming to power does not imply that there is no risk.

For commodity investors, the most pressing question is how the markets will react as Donald Trump returns to the White House. The new President is set to be inaugurated on January 20, 2025.

Some markets have been trying to account for the possibility of an extremely uncertain election. Gold prices have reached new highs, while equities have adjusted downward. Meanwhile, many physical commodities remain under pressure due to concerns over declining demand, oversupply, and a stronger USD.

One of the key data points drawing significant attention this week is the U.S. Nonfarm Payrolls (NFP) report, set to be released on November 1. This data will influence the direction of the USD, measured by the U.S. Dollar Strength Index (DXY), thereby impacting commodity prices.

Coffee prices have risen nearly throughout the entire year, driven by weather-related issues in Brazil and Vietnam, the world's two largest coffee-producing countries.

Analyse the potential effects of the US presidential election on global commodities, focusing on energy, metals, and agriculture. Understand the influence of policy direction and geopolitical uncertainty.

Straits Financial's Chief Economist suggested that commodity prices still have the potential to decline further in the future.

The outlook for commodity markets may be brighter than many investors appreciate, given recent price action and the current state of the global economy.

Record yields are already predicted for U.S. corn and soybean crops, but some of the estimates, particularly for soybeans, are becoming rather lofty.

Recent data from the Shanghai Futures Exchange shows a steady decline in copper inventories, hinting at a potential recovery in China's economy.