CommodityHQ.com provides weekly information about any material impact of a major economic, corporate and/or geopolitical event on the global commodities market. The report also analyzes the weekly change in prices of the major commodity futures and commodity focused ETFs as a result of market changing events and trends. This report covers events and analysis for the weeks ranging August 22 to August 30.
- Gasoline prices jumped this week as Hurricane Harvey brought devastation to the Houston Texas region.
- Copper prices hit a new 3-year high this week on increasing demand along with investor activity.
- Wheat prices rebounded sharply this week after several weeks of selling off as investors finally took a breather.
- Be sure to check our previous week’s report, so that you are aware of the changing trends in the commodity space.
Weekly Market Wrap-up
Energy – An unexpected draw in U.S. oil inventories caused oil prices to drop this week while gasoline prices shot higher, as Hurricane Harvey pounded Houston.
- Oil – A larger-than-expected U.S. oil inventory draw was responsible for crude oil prices slumping this week to $45.58 barrel.
- Natural Gas – Natural gas prices remained relatively flat for the week at $2.962 per million British thermal units as investors mulled over Hurricane Harvey’s impact on the industry.
- Coal – Xcel Energy promoted a plan dubbed “Colorado Energy Plan” aimed at shutting down two coal plants in Colorado and replacing them with solar, wind or natural gas plants.
Metals – Copper prices continued to gain ground this week hitting a new 3-year high at $3.1215 a pound largely due to speculative interest from hedge funds.
- Precious Metals – Gold prices rose to $1,313.18 a troy ounce this week, despite pressure from a rising dollar, as geopolitical and interest rate concerns took over investors’ minds.
- Other – Aluminum prices are at their highest level since February of 2013 thanks to better-than-expected aluminum demand from China.
Grains – Wheat prices rebounded this week as selling pressure declined along with a report that farmers are growing less wheat.
- Corn and Soybeans – Corn and soybean prices fell this week on an overall lack of buying demand for the agricultural sector.
Softs – A report showing ample global supply for a number of commodities caused sugar prices to drop to 13.74 cents per lb.
If you want to know which commodity might be right for you, check out our Commodity Investing Database.
Weekly Movement Across Commodity Futures
For this week, we analyzed all commodities by weekly performance and listed the top three performers by weekly percentage gain. All commodities were taken into account and analyzed from a performance perspective only to find the top three.
You can use ETFdb.com’s Screener to see a complete list of commodity ETFs.
Commodity | Weekly Gain (%) | Contract Expiration | Contract Price (as of August30th) | 52-Week Price Change |
---|---|---|---|---|
U.S. Wheat | 5.01% | 12/17/17 | $429.75 | $389.75 - $574.25 |
Heating Oil | 3.13% | 10/17/17 | $1.67 | $1.35 - $1.7 |
Silver | 2.39% | 09/17/17 | $17.34 | $15.15 - $20.33 |
U.S. wheat was the top commodity performer this week as selling pressure finally fell, while heating oil rose on demand stemming from Hurricane Harvey. Silver also made the list as investors continued to express geopolitical and interest rate worries.
Weekly Commodity ETF Movers
For ETF investors, we tracked the top three biggest gainers and top three biggest losers for the past week. Not included are ETNs, which behave differently than ETFs, as well as leveraged ETFs, which may not be suitable for some investors. Some ETFs that have less than one year on the market have been excluded due to lack of long-term data.
Top Three ETF Winners This Week
ETF Ticker | ETF Name | Commodity Category | Assets ($) | NAV (as of August 30) | Return (Weekly %) | Return (YTD %) | Expense Ratio |
---|---|---|---|---|---|---|---|
CANE | The Teucrium Sugar Fund | Sugar | $7,027,000.00 | $9.74 | 4.62% | -25.08% | 1.00% |
BNO | United States Brent Oil Fund | Brent Oil | $96,654,000.00 | $13.90 | 4.43% | -11.35% | 0.90% |
UGA | United States Gasoline Fund | Gasoline | $59,656,000.00 | $26.53 | 3.88% | -15.29% | 0.75% |
This week’s best-performing commodity-based ETFs were somewhat mixed with sugar leading the way following strength from last week. Brent oil climbed on increased buying activity, while gasoline jumped higher in the aftermath of Hurricane Harvey.
Top Three ETF Losers This Week
ETF Ticker | ETF Name | Commodity Category | Assets ($) | NAV (as of August 30) | Return (Weekly %) | Return (YTD %) | Expense Ratio |
---|---|---|---|---|---|---|---|
WEAT | The Teucrium Wheat Fund | Wheat | $63,790,000.00 | $6.42 | -3.31% | -6.69% | 1.00% |
CORN | The Teucrium Corn Fund | Corn | $63,716,000.00 | $17.60 | -2.55% | -5.93% | 1.00% |
TAGS | The Teucrium Agricultural Fund | Agriculture | $1,168,000.00 | $22.84 | -1.87% | -11.06% | 1.00% |
Agriculture was the common theme for this week’s list of worst-performing commodity-based ETFs. Wheat led the way following sell-off pressure from the week prior, but could rebound next week. Corn and broad agriculture dropped as well on a lack of demand for agricultural goods.
We provide this report on a weekly basis. Be sure to check our News section to remain updated on the latest happenings in the commodity space.