Course description
Commodity Markets
Everything about production, supply chain, storage and trading
During the two-day Commodities In-Depth training, you will explore the characteristics of various commodity markets and find out how they are traded. Across major commodity products, we will discuss the production process, its price drivers, different supply and demand factors and other important features relevant to the market.
There are no prerequisites for this course – even though some basic understanding of financial markets would be helpful, it is not required!
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Upcoming start dates
Choose between 2 start dates
Suitability - Who should attend?
- Professionals within the commodity or energy markets.
- Individuals in the financial sector specializing in energy, metals or agriculture areas.
- Professionals across the industries dealing with commodities, such as procurement and purchasing officers, accountants, and corporate treasurers.
- Students, preparing for an upcoming internship or starting their careers within the commodities sector.
- Anyone working in or looking to understand commodity markets.
Outcome / Qualification etc.
What will you learn?
By the end of the course, you will:
- Gain a solid understanding of commodity markets, its major players and various commodity-linked products.
- Discover the specifics of commodity trading, market conventions and the delivery process.
- Learn about the London Metals Exchange and its role in trading base metals.
- Understand how macroeconomics and geopolitics impact commodities supply and demand.
- Appreciate the impact China had on global commodity markets and prices.
- Learn about different types of oil and its refining process.
- Be able to explain contango and backwardation states of commodity futures curves.
- Explore how gold and silver can be used as part of a diversified investment portfolio.
- Recognize the specifics of commodity options trading and volatility surface construction.
- Find out why futures open interest drops significantly prior to contract expiry.
- And much more!
What will you get upon completion?
- Formal completion certificate.
- Course notes and materials.
- Follow-up support – ability to ask questions and seek further clarification, if needed.
- 20% OFF any future courses you wish to attend.
Training Course Content
Day 1:
- Overview of Commodity Markets:
- Energy products.
- Base and precious metals.
- Agriculture products.
- Weather and emissions.
- Market players trading commodities.
- Futures and Forwards:
- Financial futures and market conventions.
- Futures volume and open interest dynamics.
- Physical settlement and delivery process.
- Using financial futures.
- Cost of carry.
- Commodity convenience curve.
- Contango and backwardation.
- Oil Markets:
- Producers and consumers.
- Oil characteristics.
- West Texas Intermediate (WTI) and Brent crude.
- Refining process.
- Demand and supply for oil.
- Factors influencing oil price.
- Oil cost of carry.
- Natural Gas Markets:
- Overview of natural gas markets.
- Natural gas supply chain.
- Consumption and production of natural gas.
- Liquefied natural gas.
- Factors influencing natural gas price.
- Natural gas futures.
- Natural gas cost of carry.
- Electricity Markets:
- How is electricity generated?
- Electricity generation, transportation and storage.
- Electricity cost of carry.
- Seasonality of the futures curve.
- Factors influencing electricity price.
Day 2:
- Coal Markets:
- Overview of coal markets.
- Coal mining and production.
- The demand and supply for coal.
- Factors influencing coal price.
- Precious Metals:
- Producers and consumers of gold.
- Gold products.
- Factors influencing gold price.
- The gold leasing market.
- Gold cost of carry.
- Gold producer trading strategies.
- Central Bank strategies.
- Base Metals:
- Production of base metals.
- Aluminum and copper.
- Factors influencing price of base metals.
- Base metals cost of carry.
- Overview of the London Metals Exchange (LME).
- Trading in base metals.
- Soft Commodities and Agriculture:
- Overview of agricultural products.
- Ethanol.
- Price drivers for agricultural commodities.
- Agriculture futures and forwards.
- Investing in Commodities:
- Benefits of investing into commodities.
- Commodity indices and products.
- Futures roll yield.
- Total return swaps.
- Structured products.
- Other Commodity Derivatives:
- Options on commodity products.
- Commodity strips.
- Commodity swaps.
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