Mining ‘Gold’ From Data

The explosion of data combined with the application of proper data management, AI and ML and visualization tools is opening up previously unheard of opportunities in commodity trading – as well as forcing some more conventional traders to pull back from the market. Take for example, CME Datamine. CME Datamine is “a self-service cloud solution offering an integrated, streamlined process with data delivery points in the marketplace. Inform your trading strategies with market data from CME Group, including CBOT, NYMEX, COMEX, DME as well as new third party data.” Among the data sets available are agricultural and energy data sets from Orbital Insight and TellusLabs, for example. Orbital Insight sources satellite, drone, balloon, and other unmanned aerial vehicle data and automatically analyzes it using artificial intelligence. Among all of that data are daily estimates for floating roof tank (FRT) oil inventory levels around the world. It monitors more than 25,000 FRTs daily across the globe, including the U.S., China, OPEC, and EMEA. TellusLabs monitors  a number of crop health characteristics through satellite imagery and machine learning and these agricultural data sets can be used by decision-makers where time-sensitive and accurate information may be an advantage. Recent articles about Cargill have also demonstrated some of the… continue reading
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