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 29th to December 6th.
- Crude oil prices dropped this week to a two-week low as U.S. fuel inventories jumped unexpectedly.
- Gold prices fell, as a stronger U.S. dollar, driven by fears of a government shutdown, triggered higher volatility.
- A bearish Canadian wheat production report caused wheat prices to fall this week.
- Be sure to check out our previous article to keep in touch with the events happening in the commodities space.
Weekly Market Wrap-up
Energy – Oil prices dropped on rising fuel inventories this week, while a milder-than-expected winter caused natural gas prices to retreat as well.
- Oil – Crude oil fell to a two-week low of $55.96 per barrel on an unexpected increase in U.S. fuel inventories.
- Natural Gas – Natural gas prices fell this week to $2.958 per million British thermal units, as forecasts indicate a more mild winter season than anticipated.
- Coal – Germany announced that it’s closing its last coal mine signaling the end of coal for a country that’s now reliant on alternative energy.
Metals – Copper prices dropped to a two-month low of $2.952 per pound on profit-taking activity and a rise in inventories.
- Precious Metals – Gold prices dropped to $1,266.40 a troy ounce as the U.S. dollar ticked higher on investor uncertainty regarding a potential government shutdown.
- Other – Aluminum prices fell this week, as net-short positions rose more than net-long positions on the LME.
Grains – A bearish Canadian wheat production report caused wheat prices to fall to $3.985 earlier this week.
- Corn and Soybeans – Corn prices finished the week higher as investors grew concerned over weather conditions in South America.
Softs – U.S. cotton ticked slightly lower to finish the week, after starting out strong on raised price expectations.
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 |
---|---|---|---|---|
U.S. Corn | 3.03% | 03/18/17 | $352.25 | $328.5 - $394.5 |
U.S. Coffee | -0.57% | 03/18/17 | $125.53 | $113 - $156 |
U.S. Cotton | -0.91% | 03/18/17 | $72.23 | $66.16 - $87.18 |
Commodities fared poorly as a whole this week, with U.S. corn as the only commodity to eke out a positive gain. U.S. coffee and U.S. cotton, while retreating somewhat, were the second- and third-best performers with agricultural commodities outpacing metals.
Weekly Commodity ETF Movers
For ETF investors, we tracked the top three biggest gainers and top three biggest losers for the past week. Not included are ETN’s, which behave differently than ETF’s, as well as leveraged ETF’s which may not be suitable for some investors. Some ETF’s that have less than one year on the market have been excluded due to lack of long term data.
Top Three ETF Winners This Week
ETF Ticker | ETF Name | Commodity Category | Assets ($MM) | NAV (as of December 6) | Return (weekly %) | Return (YTD %) | Expense Ratio |
---|---|---|---|---|---|---|---|
SOYB | Teucrium Soybean Fund | Soybeans | $20.60 | $18.78 | 1.19% | -1.68% | 1.00% |
CORN | Teucrium Corn Fund | Corn | $65.49 | $16.83 | -0.53% | -10.05% | 1.00% |
SGOL | ETFS Physical Swiss Gold Shares | Swiss gold | $1,023.48 | $123.50 | -0.79% | 10.50% | 0.39% |
This week’s list of best-performing commodity-based ETFs were mostly agriculture related with soybeans and corn taking the top two spots. A Swiss gold ETF rose as well, as investors looked ahead to a potential government shutdown in the U.S.
Top Three ETF Losers This Week
ETF Ticker | ETF Name | Commodity Category | Assets ($MM) | NAV (as of December 6) | Return (weekly %) | Return (YTD %) | Expense Ratio |
---|---|---|---|---|---|---|---|
UNG | United States Natural Gas Fund | Natural gas | $528.44 | $5.78 | -8.40% | -38.12% | 1.12% |
UNL | United States 12 Month Natural Gas Fund | Natural gas | $8.49 | $9.44 | -5.03% | -19.25% | 0.90% |
PPLT | ETFS Physical Platinum Shares | Platinum | $553.05 | $86.12 | -3.97% | -0.34% | 0.60% |
This week’s list of worst-performing commodity-based ETFs were led by two natural gas funds as winter weather expectations turned bearish. Platinum rose as investors looked to safe-haven assets amidst a potential U.S. government shutdown in the coming weeks.
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.