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 March 7th to March 14th.
- Crude oil prices sank again this week on excess oil inventory data.
- Gold prices plummeted this week on the back of a stronger U.S. dollar and mixed U.S. economic data.
- Steel prices rose higher this week following Trump’s tariff on foreign steel.
- Be sure to check out our previous edition to keep track of events in the global commodities space.
Weekly Market Wrap-up
Energy –Crude oil prices dropped this week on higher oil inventories, while natural gas prices basically traded flat with some lingering winter weather helping keep demand healthy.
- Oil – Crude oil prices fell for another straight week to $60.97 per barrel on bearish excess oil inventory data.
- Natural Gas – Natural gas prices ticked slightly higher this week to $2.81 per million British thermal units on higher demand due to localized cold winter weather in the U.S.
- Gasoline – The average price for a gallon of gas dipped slightly to $2.52 this week as increased gasoline production has kept pace with higher demand.
Metals – Copper prices for May delivery rebounded this week to $3.18 per pound on stronger-than-expected Chinese economic data.
- Precious Metals – A stronger U.S. dollar and mixed economic data sent gold prices tumbling to $1,325.70 per troy ounce as of Wednesday.
- Other – Trump’s tariff on steel is bad news for steel companies, but it helped steel prices rise to more than $875 per short ton.
Grains – The prospect of rain finally arriving in the Midwest took down wheat prices this week to $485.50.
- Corn and Soybeans – U.S. corn prices rose to $3.92 on bullish speculation this week, while soybeans struggled.
Softs – U.S. coffee prices jumped this week on bullish weather expectations and speculation.
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 March 14th) | 52-Week Price Change |
|---|---|---|---|---|
| U.S. Corn | 3.03% | 05/18/18 | $391.25 | $328.5 - $394.5 |
| Copper | 1.38% | 05/18/18 | $3.16 | $2.47 - $3.29 |
| US Coffee | 1.28% | 05/18/18 | $120.92 | $113 - $145.38 |
This week’s best-performing commodities were largely agricultural with U.S. corn taking the top spot as bullish traders helped prices climb higher. Copper prices rose on stronger-than-expected Chinese economic data, while U.S. coffee prices jumped on bullish weather expectations.
Weekly Commodity ETF Movers
For ETF investors, we tracked the top three biggest gainers and top three biggest losers for the past week. Not included are ETN’s, which behave differently than ETF’s, as well as leveraged ETF’s which may not be suitable for some investors. Some ETF’s that have less than one year on the market have been excluded due to lack of long term data.
Top Three ETF Winners This Week
| ETF Ticker | ETF Name | Commodity Category | Assets ($MM) | NAV (as of March 14th) | Return (Weekly %) | Return (YTD %) | Expense Ratio |
|---|---|---|---|---|---|---|---|
| UNL | United States 12 Month Natural Gas Fund | Natural gas | $7.59 | $9.44 | 1.34% | 2.89% | 0.90% |
| UNG | United States Natural Gas Fund | Natural gas | $385.10 | $23.24 | 1.26% | -0.34% | 1.12% |
| CORN | Teucrium Corn Fund | Corn | $72.66 | $18.05 | 0.92% | 7.65% | 1.00% |
This week’s list of best-performing commodity-based ETFs were mainly natural gas funds, which rose along with natural gas prices this week as lingering winter weather sparked demand. A corn fund posted strong gains as well with U.S. corn prices spiking on trader speculation.
Top Three ETF Losers This Week
| ETF Ticker | ETF Name | Commodity Category | Assets ($MM) | NAV (as of March 14th) | Return (Weekly %) | Return (YTD %) | Expense Ratio |
|---|---|---|---|---|---|---|---|
| CANE | Teucrium Sugar Fund | Sugar | $7.86 | $8.53 | -4.80% | -12.78% | 1.00% |
| WEAT | Teucrium Wheat Fund | Wheat | $71.63 | $6.64 | -3.21% | 10.67% | 1.00% |
| USO | United States Oil Fund | Oil | $1,845.35 | $12.24 | -2.63% | 1.92% | 0.77% |
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.
