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 September 13th to September 20th.
- A possible extension or boost to the OPEC production cut deal helped lift oil prices this week.
- Gold prices ticked slightly lower for the week despite a threat by President Trump against North Korea.
- An increase in exports helped U.S. corn prices rise this week.
- Be sure to read our previous edition to keep track of commodities space.
Weekly Market Wrap-up
Energy – Oil prices were helped this week after the possibility of an OPEC production cut extension or increase, while natural gas prices hit a four-month high.
- Oil – Crude oil prices jumped to $50.39 per barrel after an announcement that OPEC is considering extending or increasing its earlier production cut agreement.
- Natural Gas – Natural gas prices hit a four-month high of $3.147 per million British thermal units following the impact of Hurricanes Harvey and Irma.
- Coal – Coal investors received a glimmer of hope this week after a report revealed that coal is likely to be a primary source of energy for the next few decades.
Metals – Copper values ticked lower this week as bullish activity fell off and concerns regarding Chinese growth weighed on investors minds.
- Precious Metals – Gold prices trickled lower again this week to $1,311.27 a troy ounce, despite Trump making a threat against North Korea that sparked potential military action.
- Other – Aluminum prices hit a five-year high after an announcement that a major Chinese aluminum manufacturer was scaling back production.
Grains – Wheat futures dropped to $4.40 on the CME following a long rally earlier this year, but could be poised to make a comeback.
- Corn and Soybeans – December corn futures jumped to $3.50 a bushel on a bump up in export demand.
Softs – Improved production contributed to a lower forecast for sugar prices this week with prices dropping to $14.28 cents a pound.
If you want to know what commodity is 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 September 20) | 52-Week Price Change |
|---|---|---|---|---|
| U.S. Corn | 3.40% | 12/17/17 | $350.00 | $325 - $395 |
| Crude Oil | 2.88% | 11/17/17 | $50.73 | $42.05 - $55.24 |
| Heating Oil | 2.17% | 10/17/17 | $1.80 | $1.35 - $1.80 |
U.S. corn topped this week’s list of best weekly performing commodities as exports increased. Crude oil and heating oil moved higher following supply difficulties from the hurricanes and a deal by OPEC to possibly extend or increase this year’s earlier production cut arrangement.
Weekly Commodity ETF Movers
For ETF investors, we tracked the top three biggest gainers and top three biggest losers for the past week. Not included are ETN’s, which behave differently than ETF’s, as well as leveraged ETF’s which may not be suitable for some investors. Some ETF’s that have less than one year on the market have been excluded due to lack of long term data.
Top Three ETF Winners This Week
| ETF Ticker | ETF Name | Commodity Category | Assets($ million) | NAV (as of September 20) | Return (Weekly %) | Return (YTD %) | Expense Ratio |
|---|---|---|---|---|---|---|---|
| UNG | United States Natural Gas Fund | Natural gas | $510.36 | $6.91 | 3.75% | -26.02% | 1.12% |
| USO | United States Oil Fund | Crude oil | $2,371.56 | $10.11 | 2.43% | -13.74% | 0.77% |
| UHN | United States Diesel Heating Oil Fund | Heating oil | $4.99 | $16.61 | 1.78% | -1.01% | 0.75% |
The top three best weekly performing commodity-based ETFs were all energy related with natural gas leading the way as the underlying commodity hit a four-month high. Crude oil and heating oil ticked higher as well following supply disruptions from the hurricanes and the possibility of an OPEC production cut extension.
Top Three ETF Losers This Week
| ETF Ticker | ETF Name | Commodity Category | Assets ($ million) | NAV (as of September 20) | Return (Weekly %) | Return (YTD %) | Expense Ratio |
|---|---|---|---|---|---|---|---|
| PALL | ETFs Physical Palladium Shares | Palladium | $226.66 | $86.99 | -4.84% | 33.40% | 0.60% |
| PPLT | ETFs Physical Platinum Shares | Platinum | $531.60 | $90.85 | -3.84% | 5.14% | 0.60% |
| SLV | iShares Silver Trust | Silver | $5,714.20 | $16.36 | -3.14% | 8.27% | 0.50% |
This week’s worst weekly performing commodity-based ETFs were all from the metals industry. Palladium, platinum and silver all ticked lower despite increased volatility in the markets as investor appetite for risk-averse assets ebbed.
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.
