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www.ubs.com/investmentresearchThisreporthasbeenpreparedbyUBSLimited.ANALYSTCERTIFICATIONANDREQUIREDDISCLOSURESBEGINONPAGE18.UBSdoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Asaresult,investorsshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.??GlobalResearch29January2018ChemicalsSectorUBSEvidenceLab:BrazilianAg.DistributorsurveyandintroducingCommodity&TradeAnalyticsUBSEvidenceLabBraziliandistributorsurvey&tradeanalytics:4conclusionsUBSEvidenceLabisnowmonitoringthedailymovementsofmorethan11,000bulkfreighters(c12mrecords)togaincompanyspecificinsightsintoglobalfertiliserproducers.InadditionwepublishtheresultsofourfirstBraziliandistributorsurvey(fertilisers,cropprotectionan