Agricultural and energy futures and commodities rose sharply pumped by the reopening of economies in 2021 with the Covid -19 knock ons running roughshod over supply routes and employment. The biggest losers were last year’s winners, safe haven elements such as the VIX, treasuries and foodstuffs.
Oat Futures closed up 89.74% this year. back in October the United Nations index shows that global food prices recently hit a decade high, oat futures hit an all-time high of $6.36 a bushel recently. The catalyst was drought hitting Canada, who is the world’s largest exporter of oats, for which demand has increased as oat milk gains in popularity, which is a huge positive for Oatley. The COVID-19 pandemic has driven consumers toward healthier foods and grains argues Randy Strychar, president of Ag Commodity Research and Oatinformation.com. Read More Here:
Wheat futures were up 20.26% for the year for their fifth straight yearly gain and their biggest since 2010. Crop problems in Australia and worries about export curbs in Russia have supported the wheat market throughout 2021.
Soybean futures, which hit their highest level since 2012 in May, were up just 2.19% for the year, as a bumper harvest in the United States and good growing weather in Brazil have pressured prices during the fourth quarter.
It was a sensational year for stocks and energy in particular. The major indices all closed near record levels to end the month of December. The bull market recorded a third straight year of double-digit returns for the S&P 500. The best December since 2010, and at 26 times earnings. The best-performing group for the year was energy, up 48 per cent in 2021, after being the worst performer in 2020. Devon Energy’s 179 % surge was the top stock in the S&P 500 this year.
The flip side of the stock market rip higher was the VIX as greed took hold. The supply crisis and high inflation sent commodities such as grains and metals higher.
Chicago Mercantile Exchange live cattle and lean hog futures recorded yearly gains, with hogs up nearly 16% for 2021 and live cattle up 23%, the biggest rise since 2014.
Gold futures had the steepest annual drop since 2015 as traditional safe-haven assets sagged, down 3.6%, after being down 7.6% three months ago, to end at $1,828.60 an ounce on Friday, since the precious metal ended down over 10% in 2015.
Gold ETF iShares Gold Trust and the SPDR Gold Shares are down by at least 4% in 2021 with the total assets of the two funds combined is the lowest since April 2020.
Silver fell 11.5% in 2021, marking its sharpest annual drop since 2014 when it fell 19.5%.
Copper closed at $4.4635 a pound up nearly 27% in 2021, which represents its biggest annual gain since a roughly 32% gain in 2017.
April platinum closed $966.20 an ounce, down nearly 11% for the year, its steepest yearly slide since 2018.
Palladium for March closed $1,912.10 an ounce, down about 22% to mark its firmest annual decline since 2015.
Sources: Finviz, TC
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