Commodities Week in Review: November 9 to November 13
Agriculture
Most of the agricultural commodities enjoyed a strong week of gains as they joined the broader market rally. Although the rally was capped by a strengthening US dollar, it did signal that agriculture could become the next big asset class heading into 2021. But that surge might depend on the greenback since the currency plays an integral role in the boom or bust of
Cocoa
- Friday Settlement: +$23.00, or 0.97%, to $2,388 per metric ton
- Weekly Performance: +2.01%
- YTD Performance: -5.91%
Coffee
- Friday Settlement: -$0.005, or 0.04%, to $1.1215 per pound
- Weekly Performance: +4.57%
- YTD Performance: -13.16%
Corn
- Friday Settlement: +$0.01, or 0.24%, to $4.0925 per pound
- Weekly Performance: +0.8%
- YTD Performance: +5.68%
Orange Juice
- Friday Settlement: -$0.0025, or 0.2%, to $1.2235 per pound
- Weekly Performance: +6.86%
- YTD Performance: +22.72%
Rice
- Friday Settlement: +0.005, or 0.04%, to $12.05 per pound
- Weekly Performance: -2.94%
- YTD Performance: +0.29%
Soybeans
- Friday Settlement: +$0.025, or 0.22%, to $11.48 per bushel
- Weekly Performance: +4.03%
- YTD Performance: +20.08%
Sugar
- Friday Settlement: -0.02 cents, or 0.13%, to 14.90 cents per pound
- Weekly Performance: -0.2%
- YTD Performance: +10.86%
Wheat
- Friday Settlement: +$0.045, or 0.76%, to $5.9275 per bushel
- Weekly Performance: -1.50%
- YTD Performance: +5.94%
Bitcoin
The consensus within the bitcoin community is that the
- Friday Settlement: +$85.00, or 0.52%, to $16,325.00 per coin
- Weekly Performance: +3.91%
- YTD Performance: +126.11%
Energy
It was a roller coaster ride for energy commodities this week due to news of a coronavirus vaccine and Hurricane Eta. But after US crude roared earlier in the trading week, it consolidated its gains and trended downward. However, because of its massive rally in the first half of the week, oil and natural gas recorded noteworthy weekly boosts.
West Texas Intermediate (WTI) Crude Oil
- Friday Settlement: -$1.00, or 2.43%, to $40.12 per barrel
- Weekly Performance: +7.02%
- YTD Performance: -34.46%
Brent Crude Oil
- Friday Settlement: -$0.15, or 0.35%, to $42.63 per barrel
- Weekly Performance: +7.65%
- YTD Performance: -35.44%
Natural Gas
- Friday Settlement: +$0.006, or 0.19%, to $3.10 per million British thermal units (btu)
- Weekly Performance: +2.14%
- YTD Performance: +42.01%
Gasoline
- Friday Settlement: -$0.0333, or 2.88%, to $1.1238 per gallon
- Weekly Performance: +3.16%
- YTD Performance: -35.79%
Heating Oil
- Friday Settlement: -$0.0282, or 2.29%, to $1.2051 per gallon
- Weekly Performance: +4.92%
- YTD Performance: -40.52%
Metals
Gold and silver logged another week of red ink, failing to sustain any momentum. A lot of the developments over the last several trading sessions have been bad news for the metals market, from the COVID-19 vaccine to a strengthening greenback. As volatility grips the metals, can they eventually find a concrete direction to close out 2020?
Gold
- Friday Settlement: +$14.90, or 0.8%, to $1,888.20 per ounce
- Weekly Performance: -3.24%
- YTD Performance: +24.22%
Silver
- Friday Settlement: +$0.454, or 1.87%, to $24.76 per ounce
- Weekly Performance: -3.68%
- YTD Performance: +38.32%
Copper
- Friday Settlement: +$0.037, or 1.18%, to $3.182 per pound
- Weekly Performance: +1.03%
- YTD Performance: +13.7%
Palladium
- Friday Settlement: -$16.70, or 0.71%, to $2,325.20 per ounce
- Weekly Performance: -6.77%
- YTD Performance: +21.59%
Platinum
- Friday Settlement: +$10.00, or 1.13%, to $894.00 per ounce
- Weekly Performance: -0.33%
- YTD Performance: -8.01%
Steel
- Friday Settlement: +$6.00, or 0.8%, to $756.00 per ounce
- Weekly Performance: +3.28%
- YTD Performance: +28.35%
If you have any questions and comments on commodities today, use the form below to reply.