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 February 14th to February 21st.
- A stronger U.S. dollar hurt crude oil prices this week despite a decrease in U.S. oil inventories.
- Natural gas prices rose this week on colder weather expectations for February.
- Bullish speculation helped soybean and corn prices climb higher this week.
- Be sure to review our previous edition to remain aware of the events in the global commodities space.
Weekly Market Wrap-up
Energy – A stronger U.S. dollar hurt oil prices this week, while colder weather expectations caused natural gas prices to jump higher.
- Oil – A stronger U.S. dollar was responsible for a fall in the price of crude oil to $61.12 a barrel, offsetting a decrease in U.S. oil inventories.
- Natural Gas –The return of cold weather caused natural gas futures to rise to $2.628 per million British thermal units this week.
- Gasoline – The national average for gasoline prices fell to $2.51 as refiners attempted to burn off winter-grade fuel in preparation for summer-grade fuel.
Metals – Robust economic data helped copper prices climb higher to $3.267 this week.
- Precious Metals – Gold prices traded mostly flat for the week at $1,331.60 a troy ounce as the dollar eased from earlier highs.
- Other – Nickel prices slipped this week on weaker demand and a drop in bullish speculation on the metal.
Grains – Wheat prices fell to $4.49 per bushel on technical selling activity this week following gains led by dry weather weather conditions last week.
- Corn and Soybeans – Soybean futures for March climbed to $10.34 on bullish speculation and higher demand.
Softs – U.S. cotton prices jumped this week on hopes of fresh U.S. export orders.
If you are wondering 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.
| Commodity | Weekly Gain (%) | Contract Expiration | Contract Price (as of February 21) | 52-Week Price Change |
|---|---|---|---|---|
| U.S. Cotton | 6.50% | 05/18/18 | $80.29 | $66.16-$87.18 |
| Natural Gas | 2.13% | 03/18/18 | $2.63 | $2.53-$3.66 |
| Heating Oil | 1.67% | 03/18/18 | $1.92 | $1.35-$2.14 |
This week’s top-performing commodity was U.S. cotton, which spiked more than 6% on hopes of fresh export orders. Natural gas jumped on colder weather expectations along with heating oil prices.
Weekly Commodity ETF Movers
For ETF investors, we tracked the top three biggest gainers and top three biggest losers for the past week. Not included are ETN’s, which behave differently than ETF’s, as well as leveraged ETF’s which may not be suitable for some investors. Some ETF’s that have less than one year on the market have been excluded due to lack of long term data.
Top Three ETF Winners This Week
| ETF Ticker | ETF Name | Commodity Category | Assets ($MM) | NAV (as of February 21) | Return (weekly %) | Return (YTD %) | Expense Ratio |
|---|---|---|---|---|---|---|---|
| UHN | United States Diesel-Heating Oil Fund | Heating oil | $7.27 | $18.20 | 5.32% | -5.89% | 0.75% |
| PALL | ETFS Physical Palladium Shares | Palladium | $237.30 | $98.57 | 4.66% | -2.93% | 0.60% |
| USL | United States 12 Month Oil Fund | Oil | $83.28 | $21.31 | 4.46% | 1.86% | 0.72% |
This week’s best-performing commodity-based ETFs were a mixed bunch with a heating oil fund taking the top spot on higher demand due to colder weather expectations. A palladium fund rose on bullish speculation and higher demand for the metal, while an oil fund rose due to last week’s gains.
Top Three ETF Losers This Week
| ETF Ticker | ETF Name | Commodity Category | Assets ($MM) | NAV (as of February 21) | Return (weekly %) | Return (YTD %) | Expense Ratio |
|---|---|---|---|---|---|---|---|
| WEAT | Teucrium Wheat | Wheat | $67.71 | $6.32 | -2.02% | 5.33% | 1.00% |
| CANE | Teucrium Sugar | Sugar | $7.05 | $8.80 | -1.35% | -10.02% | 1.00% |
| SIVR | ETFS Physical Silver Shares | Silver | $332.87 | $16.05 | -0.62% | -2.85% | 0.30% |
This week’s worst-performing commodity-based ETFs were mostly agricultural funds with wheat and sugar falling on technical selling activity. A silver fund fell as well on a stronger U.S. dollar and weaker economic data.
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.
