Global Commodities: A surplus of agri risks

This week has finally delivered the result of the Midterm elections, with energy markets repricing the risks in the Middle East. Risk premia have also eroded in agriculture, where many political and fundamental factors are active at once. In this episode, we discuss the risk profile for ags and our outlook for 2027. Speaker: Tracey Allen, Head of Agricultural Commodities This podcast was recorded on November 6, 2026. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. Without prior written consent from J.P. Morgan, it is prohibited to (A) use or share any material, commentary, information or other data received from J.P. Morgan or an authorized third-party ("J.P. Morgan Data") in any artificial intelligence ("AI") systems or models, or (B) use automated means, including robots, crawlers, web-scrapers or other automated tools or scripts, to access, collect, extract or harvest any J.P. Morgan Data, including scraping of user data, content, metadata, pricing information or other information.