Commodities Week in Review: September 28 to October 2
Agriculture
The leading agricultural commodities – corn, soybean, and wheat – reignited a rally this week, driven primarily by a weakening US dollar. A lower buck is good for commodities priced in dollars because it makes it cheaper for foreign investors to purchase. Moreover, early forecasts suggest that food demand – at home and abroad – will continue to balloon as more people stay home during the winter months amid the coronavirus pandemic, forcing producers to ramp up output.
Cocoa
- Friday Settlement: -$6.00, or 0.24%, to $2,476 per metric ton
- Weekly Performance: -3.92%
- YTD Performance: -2.44%
Coffee
- Friday Settlement: +$0.0045, or 0.41%, to $1.094 per pound
- Weekly Performance: -4.20%
- YTD Performance: -15.29%
Corn
- Friday Settlement: -$0.0325, or 0.85%, to $3.795 per pound
- Weekly Performance: +3.97%
- YTD Performance: -2.00%
Orange Juice
- Friday Settlement: +$0.003, or 0.27%, to $1.1145 per pound
- Weekly Performance: +5.69%
- YTD Performance: +11.79%
Rice
- Friday Settlement: +$0.003, or 0.24%, to $12.54 per pound
- Weekly Performance: +1.01%
- YTD Performance: +4.37%
Soybeans
- Friday Settlement: -$0.035, or 0.34%, to $10.20 per bushel
- Weekly Performance: +1.87%
- YTD Performance: +6.69%
Sugar
- Friday Settlement: Unchanged at 13.58 cents per pound
- Weekly Performance: +0.37%
- YTD Performance: +1.04%
Wheat
- Friday Settlement: +$0.03, or 0.53%, to $5.7325 per bushel
- Weekly Performance: +5.38%
- YTD Performance: +2.46%
Bitcoin
The
- Friday Settlement: -$70.00, or 0.66%, to $10,757.00 per coin
- Weekly Performance: -0.33%
- YTD Performance: +46.47%
Energy
The energy sector was battered this week, driven primarily by foreign demand concerns. Crude oil prices fell below $40 as the resurgence of the coronavirus has caused investors to be apprehensive about the global economic recovery. The consensus among
West Texas Intermediate (WTI) Crude Oil
- Friday Settlement: -$1.73, or 4.47%, to $36.99 per barrel
- Weekly Performance: -7.62%
- YTD Performance: -39.57%
Brent Crude Oil
- Friday Settlement: -$0.37, or 0.94%, to $38.90 per barrel
- Weekly Performance: -7.95%
- YTD Performance: -41.09%
Natural Gas
- Friday Settlement: -$0.088, or 3.48%, to $2.439 per million British thermal units (btu)
- Weekly Performance: -13.02%
- YTD Performance: +11.73%
Gasoline
- Friday Settlement: -$0.0334, or 2.90%, to $1.1190 per gallon
- Weekly Performance: -5.82%
- YTD Performance: -34.07%
Heating Oil
- Friday Settlement: -$0.041, or 3.64%, to $1.0840 per gallon
- Weekly Performance: -4.23%
- YTD Performance: -46.5%
Metals
The metals class enjoyed a strong week as both gold and silver turned reclaimed some of their gains in recent months. Although the precious metals failed to take advantage of the
Gold
- Friday Settlement: -$11.80, or 0.62%, to $1,904.50 per ounce
- Weekly Performance: +2.16%
- YTD Performance: +25.30%
Silver
- Friday Settlement: -$0.394, or 1.62%, to $23.86 per ounce
- Weekly Performance: +3.81%
- YTD Performance: +33.3%
Copper
- Friday Settlement: +$0.1145, or 4.00%, to $2.98 per pound
- Weekly Performance: +0.07%
- YTD Performance: +6.49%
Palladium
- Friday Settlement: -$17.70, or 0.76%, to $2,310.50 per ounce
- Weekly Performance: +3.60%
- YTD Performance: +20.82%
Platinum
- Friday Settlement: -$18.80, or 2.08%, to $887.20 per ounce
- Weekly Performance: +5.42%
- YTD Performance: -8.71%
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