BAF NEWS

Australia 2025–26 wheat forecast raised to 35.6 million tonnes, according to ABARES’ December update, reflecting a 4% year-on-year increase and nearly 2 million tonnes above previous projections. The report also highlights a national winter crop output of 66.3 million tonnes, record barley production, and higher canola yields, signaling a robust grains outlook for 2025–26.

November 2025 gold hits one-week high as rising odds of a near-term U.S. rate cut drive prices to their highest since mid-November. The article details how CME FedWatch probability at 85% and dovish Fed commentary supported gold, with monthly gains near 4.6% and broader market relief as traders anticipate the December Fed meeting.

Nov 28 2025 oil prices remained steady, with Brent near $63.34 and WTI around $59.00, as investors assessed Russia-Ukraine diplomacy and the upcoming OPEC+ meeting. Despite light trading after the U.S. holiday, both contracts were set for a fourth consecutive monthly loss, reflecting ongoing supply concerns and geopolitical uncertainty.

November 2025 TTF gas below €30 marked an 18-month low as European natural gas prices briefly dipped to €29.20/MWh, driven by easing geopolitical risks from Ukraine peace talks and strong LNG and Norwegian supply. Despite lower storage levels, mild weather and robust imports kept prices subdued, signaling a bearish market outlook.

The November 26 2025 metals market update highlights gold nearing a two-week high on expectations of a December U.S. rate cut, with UK-listed miners benefiting from copper's rally. Deutsche Bank raised its 2026 gold forecast, while UBS projects deepening copper deficits. Lead remains in surplus, and nickel faces legal scrutiny.

The November 2025 gold rally saw spot prices climb to a near two-week high, driven by rising fed rate cut bets December and dovish Federal Reserve commentary. Market-implied odds for a December rate cut surged, supporting bullion demand, while softer U.S. data and a weaker dollar added momentum to the rally.