Thomas Elder Markets is co-managed by Andrew Whitelaw and Matt Dalgleish. Both experienced commodity market analysts, Andrew and Matt have built a reputation for providing timely, relevant and concise data driven insights.

As a team, they have contributed to improving the profitability of a large number of enterprises.

Andrew Whitelaw

Andrew Whitelaw started his career in the United Kingdom working for a large scale grain and animal feed trading business, before moving to Australia in 2010.

Since 2010, Andrew has worked in the grains industry for Emerald Grain and Cargill in both Western Australia and Victoria. More recently Andrew was responsible for developing the marketing strategy and leading the grain/oilseed analysis for Mecardo.

Andrew is a director in a commercial piggery located in Victoria along with fellow TEM analyst Matt Dalgleish.

Andrew gained an undergraduate degree in Business IT, majoring in e-Business from the University of Western Scotland. Also, during his time in Australia, he has earned a masters degree in Agribusiness from the University of Queensland. At present, Andrew is researching for a PhD with the University of Melbourne, under the Agricultural Economics faculty.

The media have regularly approached Andrew for comments on agricultural markets due to his independent nature and ability to convey information in an easily accessible manner.

Andrew is found during his spare time sitting in the penalty box at the ice hockey rink, and creating woodwork masterpieces which shortly after fall apart.


Matt Dalgleish

A graduate of Economics and Education Matt has had a keen interest in markets of all sorts from an early age. Starting out trading equities in the late 1980s, while still in high school, Matt moved across to trading currencies at a major Australian bank once university was completed. 

After more than a decade working in foreign exchange markets in Melbourne and London Matt spent time teaching VCE Economics and Special Needs Education. The lure of markets had Matt back working in real estate when he and his family moved from suburban Melbourne to a hobby farm on the outskirts of Ballarat. 

Making the transition into agricultural market analysis was an exciting opportunity, enabling Matt to use his data analysis and forecasting skills to provide commentary and strategic advice to the agricultural industry, particularly within the livestock sector. Matt has become a prominent agricultural market analyst, often quoted in the agricultural press and sought after for his independent, data driven assessment of agricultural markets.  

In his spare time Matt can be found at the commercial pig farm he co-owns on the outskirts of Bendigo, searching for the vegetables in his weed patch or getting started on another batch of home brew. 

Andrey Sizov

Andrey Sizov is the Managing Director of SovEcon, a leading firm focused on the Black Sea agricultural markets research. For 27 years SovEcon have been forecasting crops and exports, assesing stocks and consumption and looking at other key price drivers. Every day SovEcon talk to farmers, traders and officials gathering market intelligence and sorting out the market noise.

Andrey kindly allows Thomas Elder Markets to publish ad-hoc articles on agreement. If you want to know more about key Black Sea events affecting the world market, whether its geopolitics, weather anomalies or state interventions subscribe to The Sizov Report

Andrew Woods

Andrew Woods has a background in farming. He was raised in the Riverina on Mulberrygong, a property near Hay. After securing a degree in Agricultural Science at the University of Sydney, he spent eight years farming in both northern and southern NSW. A move to wool broking in 1991 saw an interest in market analysis burgeon. In 1997 he and his family moved from Adelaide to Wagga Wagga to start Independent Commodity Services (ICS). Andrew is the Market Analyst at ICS.

Andrew works closely with the Elders Wool team and prepares analysis with input from other independent analysts and the Elders wool team. On a regular basis this content prepared by Andrew will be available on TEM.

If you have an interest in wool consider subscribing to the ICS service for bespoke information.