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 April 11th to April 18th.
- Crude oil prices hit a new 52-week high this week after an unexpected drop in crude oil stockpiles.
- Nickel prices soared to a three-year high this week after a report that a Russian nickel producer will be included under U.S. sanctions.
- Palladium prices rebounded this week on renewed demand and bullish speculation.
- Be sure to read our previous edition to be aware of events happening in the global commodities space.
Weekly Market Wrap-up
Energy – Crude oil prices jumped to a new 52-week high on falling stockpiles while natural gas prices rose after a drop in supplies.
- Oil – Crude oil prices leaped to $68.78 this week, the highest since December 2014, on falling crude oil supplies and higher demand.
- Natural Gas – Natural gas prices rose to $2.74 per million British thermal units after an unexpected draw in storage this week.
- Gasoline – The national average price for a gallon of gas in the U.S. jumped to $2.73 this week amidst rising oil prices and high demand.
Metals – Nickel prices jumped to a three-year high this week on news that Russian nickel producer Norilsk Nickel will be included under U.S. sanctions on Moscow.
- Precious Metals – Gold prices held relatively flat this week at $1,353.60 per troy ounce as the U.S. dollar slipped again and geopolitical tensions eased.
- Other – Palladium prices rose this week on bullish speculation and could be headed higher as demand for electric vehicles ceases to wane.
Grains – Wheat prices gained this week following last week’s selling activity and reports of slow crop progress with May futures hitting $4.66.
- Corn and Soybeans – Troubling weather was responsible for a rise in soybean prices this week with November futures ending at $10.45.
Softs – Cocoa prices hit their highest price seen since 2016 this week on increased bullish speculation.
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 April18th) | 52-Week Price Change |
|---|---|---|---|---|
| Silver | 3.12% | 05/18/18 | $17.20 | $15.15 - $18.39 |
| Crude Oil | 2.93% | 05/18/18 | $68.78 | $42.05 - $68.78 |
| Natural Gas | 2.58% | 05/18/18 | $2.74 | $2.53 - $3.66 |
Silver was the best performing commodity this week as a lagging dollar and demand for safe-haven assets rose higher. Crude oil hit a new 52-week high as well on a drop in crude stockpiles while natural gas prices jumped on an unexpected draw in supplies.
Weekly Commodity ETF Movers
For ETF investors, we tracked the top three biggest gainers and top three biggest losers for the past week. Not included are ETN’s, which behave differently than ETF’s, as well as leveraged ETF’s which may not be suitable for some investors. Some ETF’s that have less than one year on the market have been excluded due to lack of long term data.
Top Three ETF Winners This Week
| ETF Ticker | ETF Name | Commodity Category | Assets ($MM) | NAV (as of April 18th) | Return (Weekly %) | Return (YTD %) | Expense Ratio |
|---|---|---|---|---|---|---|---|
| PALL | ETFS Physical Palladium Shares | Palladium | $219.27 | $96.51 | 6.48% | -4.96% | 0.60% |
| USAG | United States Agriculture Index Fund | Agriculture | $1.74 | $17.35 | 3.83% | 5.09% | 0.80% |
| UNG | United States Natural Gas Fund | Natural gas | $336.27 | $22.60 | 3.01% | -3.09% | 1.12% |
This week’s list of best performing commodity-based ETFs were mixed with a palladium fund outperforming the most on renewed bullish buying activity. A broad agricultural fund rose mainly on cocoa and soybean values while natural gas rose on an unexpected drop in supplies.
Top Three ETF Losers This Week
| ETF Ticker | ETF Name | Commodity Category | Assets ($MM) | NAV (as of April 18th) | Return (Weekly %) | Return (YTD %) | Expense Ratio |
|---|---|---|---|---|---|---|---|
| WEAT | Teucrium Wheat | Wheat | $66.07 | $6.35 | -4.80% | 5.83% | 1.00% |
| CANE | Teucrium Sugar | Sugar | $9.37 | $7.84 | -2.61% | -19.84% | 1.00% |
| CORN | Teucrium Corn Fund | Corn | $73.87 | $17.70 | -2.21% | 5.56% | 1.00% |
This week’s list of worst performing commodity-based ETFs were all agricultural funds with wheat posting the largest loss following behind last week’s selling activity. A sugar fund and corn fund dropped as well on bearish speculation.
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.
