Pre-Session Views

• Strategy| PHAR may be poised for a catch-up rally
• POUL| Poultry prices hit YTD low; market dynamics set to drive price recovery

Weekly Commodities Update

 |   | Last Price | WoW Change, %
| Brent, USD/bbl | 67.8 | -12.0%
| Diesel-HSFO Spread, USD/ton | 250.6 | -24.1%
| Egypt Urea, USD/ton | 401.0 | 0.0%
| Polyethylene, USD/ton | 920.0 | 0.0%
| Polypropylene, USD/ton | 965.0 | 0.5%
| Iron Ore 65%, USD/ton | 111.4 | -1.1%
| Steel/Iron Ore Spreads, USD/ton | 372.9 | 0.0%
| LME Aluminum Cash Price, USD/ton | 2,595.2 | 1.3%
| LME Copper Cash Price, USD/ton | 10,118.7 | 2.1%
| Egyptian Retail Cement, EGP/ton | 3,958.0 | -0.2%
| Steam Coal FOB Newcastle Australia, USD/ton | 106.5 | -0.1%
| Orange Concentrates USD/Lbs | 2.2 | -4.1%
| SMP, USD/MT | 2,775.0 | 0.0%