Commodities Week in Review: January 4 to January 8
Agriculture
Agricultural commodities were a mixed bag during the first trading week of 2021 as a strengthening US dollar weighed on many crops. But output levels and tighter inventories supported agricultural products, like corn and soybeans. After a roaring 2020, can the broader agriculture market continue the momentum in 2021?
Cocoa
- Friday Settlement: -$12.00, or 0.48%, to $2,504 per metric ton
- Weekly Performance: -3.58%
- YTD Performance: -3.58%
Coffee
- Friday Settlement: -$0.007, or 0.57%, to $1.23 per pound
- Weekly Performance: -3.38%
- YTD Performance: -3.38%
Corn
- Friday Settlement: +$3.00, or 0.61%, to $4.97 per pound
- Weekly Performance: +2.32%
- YTD Performance: +2.32%
Cotton
- Friday Settlement: +0.06 cents, or 0.08%, to 79.82 cents per pound
- Weekly Performance: +2.06%
- YTD Performance: +2.06%
Orange Juice
- Friday Settlement: +$0.0025, or 0.2%, to $1.2505 per pound
- Weekly Performance: -0.64%
- YTD Performance: -0.64%
Rice
- Friday Settlement: +$0.25, or 2.06%, to $12.415 per pound
- Weekly Performance: +1.43%
- YTD Performance: +1.43%
Soybeans
- Friday Settlement: +$0.215, or 1.59%, to $13.7675 per bushel
- Weekly Performance: +5.08%
- YTD Performance: +5.08%
Sugar
- Friday Settlement: -0.06 cent, or 0.38%, to 15.54 cents per pound
- Weekly Performance: +0.26%
- YTD Performance: +0.26%
Wheat
- Friday Settlement: -$0.0425, or 0.66%, to $6.38 per bushel
- Weekly Performance: -0.58%
- YTD Performance: -0.58%
Bitcoin
The
- Friday Settlement: +$985.00, or 2.49%, to $40,610.00 per coin
- Weekly Performance: +38.98%
- YTD Performance: +38.98%
Energy
It was a stellar first trading week of 2021 for the energy sector. Following last year’s rollercoaster ride, oil and natural gas were on a tear over the last five sessions, buoyed by Saudi Arabia cutting production levels and growing optimism over renewed global demand this year.
West Texas Intermediate (WTI) Crude Oil
- Friday Settlement: $1.90, or 3.74%, to $52.73 per barrel
- Weekly Performance: +8.9%
- YTD Performance: +8.9%
Brent Crude Oil
- Friday Settlement: +$0.37, or 0.66%, to $56.36 per barrel
- Weekly Performance: +8.97%
- YTD Performance: +8.97%
Natural Gas
- Friday Settlement: -$0.036, or 1.34%, to $2.655 per million British thermal units
- Weekly Performance: +4.69%
- YTD Performance: +4.69%
Gasoline
- Friday Settlement: +$0.0653, or 4.4%, to $1.5480 per gallon
- Weekly Performance: +9.70%
- YTD Performance: +9.70%
Heating Oil
- Friday Settlement: +$0.0479, or 3.11%, to $1.5860 per gallon
- Weekly Performance: +6.82%
- YTD Performance: +6.82%
Metals
It was a disappointing week for this asset class, despite kicking off 2021 with a bang. The precious metals ended the week with incredible losses, even though there were many factors to support metal commodities. Still, market observers think gold and silver have plenty of room for growth, especially now with the Democrats controlling the White House, the Senate, and the House of Representatives. Since
Gold
- Friday Settlement: -$63.90, or 3.34%, to $1,849.70 per ounce
- Weekly Performance: -2.73%
- YTD Performance: -2.73%
Silver
- Friday Settlement: -$1.761, or 6.46%, to $25.50 per ounce
- Weekly Performance: -3.86%
- YTD Performance: -3.86%
Copper
- Friday Settlement: -$0.0025, or 0.07%, to $3.6936 per pound
- Weekly Performance: +4.93%
- YTD Performance: +4.93%
Palladium
- Friday Settlement: -$53.60, or 2.2%, to $2,378.00 per ounce
- Weekly Performance: -3.16%
- YTD Performance: -3.16%
Platinum
- Friday Settlement: -$49.50, or 4.4%, to $1,075.10 per ounce
- Weekly Performance: -0.41%
- YTD Performance: -0.41%
Steel
- Friday Settlement: +$20.00, or 1.92%, to $1,060 per metric ton
- Weekly Performance: +10.07%
- YTD Performance: +10.07%
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