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 November 22nd to November 29th.
- Oil prices dipped slightly this week after major global oil exporters were unable to reach a consensus regarding future supply cuts.
- A stronger U.S. dollar and a robust U.S. economy caused gold and silver prices to fall this week.
- Wheat prices regained some ground this week on the news of U.S. crop deterioration.
- Be sure to read our previous article to keep up with the latest events in the commodities space.
Weekly Market Wrap-up
Energy – Oil prices dipped this week as major global oil exporters were unable to reach a decision about supply cuts.
- Oil – Crude oil prices ticked slightly lower to $57.30 a barrel on supply cut indecision from major oil exporters this week.
- Natural Gas – Natural gas futures jumped to $3.072 per million British thermal units this week as forecasts for colder weather triggered bullish activity.
- Coal – Recent EPA reports caused concerns for workers in “coal country” this week, further damaging coal’s viability for long-term sustainability.
Metals – Copper prices dropped to $3.10/lb on fears that Chinese demand could wane in the coming months.
- Precious Metals – A stronger U.S. dollar and upbeat economic forecasts caused gold prices to slide this week to $1,287.53 a troy ounce.
- Other – A new possibility of import tariffs on imported aluminum helped aluminum prices rise this week.
Grains – U.S. crop deterioration helped lift wheat prices this week along with a slowdown in selling activity in the commodity.
- Corn and Soybeans – Corn prices rose to $3.53¾ a bushel this week despite momentum and trend indicators pointing to lower prices.
Softs – A shortfall in global coffee output helped lift U.S. coffee prices this week with expectations of higher prices going into 2018.
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.
| Commodity | Weekly Gain (%) | Contract Expiration | Contract Price (as of November 29) | 52-Week Price Change |
|---|---|---|---|---|
| Natural Gas | 6.97% | 01/18/17 | $3.16 | $2.52 - $3.99 |
| U.S. Coffee | 6.24% | 03/18/17 | $132.32 | $113 - $156 |
| U.S. Cotton | 3.12% | 03/18/17 | $73.22 | $66.16 - $87.18 |
The week’s top performer was natural gas, which was helped along by reports of colder-than-expected winter weather. U.S. coffee prices jumped on reports of a global shortfall in supplies, while U.S. cotton prices rose on bullish technical trading activity.
Weekly Commodity ETF Movers
For ETF investors, we tracked the top three biggest gainers and top three biggest losers for the past week. Not included are ETN’s, which behave differently than ETF’s, as well as leveraged ETF’s which may not be suitable for some investors. Some ETF’s that have less than one year on the market have been excluded due to lack of long term data.
Top Three ETF Winners This Week
| ETF Ticker | ETF Name | Commodity Category | Assets ($MM) | NAV (as of November 29) | Return (weekly %) | Return (YTD %) | Expense Ratio |
|---|---|---|---|---|---|---|---|
| UNG | United States Natural Gas Fund | Natural Gas | $614.52 | $6.31 | 3.44% | -32.44% | 1.12% |
| UNL | United States 12 Month Natural Gas Fund | Natural Gas | $8.39 | $9.94 | 1.43% | -14.97% | 0.90% |
| PALL | ETFS Physical Palladium Shares | Palladium | $234.34 | $96.79 | 0.83% | 48.43% | 0.60% |
This week’s list of best-performing commodity-based ETFs found two natural gas funds taking the top two spots as bullish weather forecasts helped lift prices. Palladium continued its impressive rise this year as demand for electric vehicles helped palladium ETFs gain as well.
Top Three ETF Losers This Week
| ETF Ticker | ETF Name | Commodity Category | Assets ($MM) | NAV (as of November 29) | Return (weekly %) | Return (YTD %) | Expense Ratio |
|---|---|---|---|---|---|---|---|
| DBS | PowerShares DB Silver Fund | Silver | $20.70 | $25.35 | -3.80% | 1.97% | 0.75% |
| SIVR | ETFS Physical Silver Shares | Silver | $352.71 | $16.16 | -3.35% | 3.66% | 0.30% |
| SLV | iShares Silver Trust | Silver | $5,420.92 | $15.64 | -3.28% | 3.51% | 0.50% |
This week wasn’t kind to silver ETFs, which took all three spots for the worst weekly performance for commodity-based ETFs. Silver slid lower as the U.S. dollar continued to gain strength, while reports of greater-than-expected economic growth caused investors to flee safe-haven assets in favor of equities.
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.
