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 … Continue reading “Oats, Coffee, Canola and Lumber Pip Energy as Best Performing Futures in 2022”
Futures and commodities contined to be volatile in October of 2021 as energy markets ran roughshod. The biggest gainers were safehaven elements such as precious metals silver, platinum and palladium along with foodstuffs such as grains. The weakest was VIX as you would expect with US stock indices at record highs
Aluminum producer Alcoa reported better than expected third quarter earnings on Thursday. $AA profits boosted by aluminum prices rising 64% yr/yr and 13% sequentially with the commodity squeeze and a recovering global economy. AA increased buybacks program and declared its first-ever dividend.
Aluminum futures prices soared to their highest in more than a decade after a coup in Guinea fueled concerns over Bauxite feedstock supplies. China gets half of it’s supplies from Guinea and is already struggling with output.
Three months can be an eternity and that is what it was for energy futures in particular. Futures and commodities were hit violently in the first quarter of 2020 with the black swan Covid -19 running roughshod. In Q2 bounces in equity and energy markets were spectacular.
The US consumer credit outstanding in February came in at +$22.33 billion much higher than the +$14.0 billion expected and from the +$12.02 billion last month. This was before the economic shutdown to the economy.
Futures and commodities were hit violently in the first quarter of 2020 with the black swan Covid -19 event running roughshod over energy markets in particular. The biggest gainers were safehaven elements such as the VIX, treasuries and foodstuffs.
Aluminum producer Alcoa reported worse than expected third quarter earnings on Wednesday with a wider-than-expected loss hit by lower alumina prices. $AA has been hurt by demand, and the implications for the global economy with the Trade War affect and tariffs.
Nornickel, the world’s largest palladium producer, reported a huge jump in first half profit with higher palladium prices offsetting a decline in nickel, copper and platinum prices. expects a global palladium deficit of 600,000 troy ounces for 2019.
Recent strength in precious metals and weather affected grains has seen commodities prices largely higher for the first half of 2019, the energy heavy GSCI is up 16.% on the year with the more balanced Bloomberg index up 5%.