Saturday , October 31 2020
Home / Commodity Blog / Commodities Week in Review: August 17 to August 21

Commodities Week in Review: August 17 to August 21

Summary:
Commodities Week in Review: August 17 to August 21  Agriculture  Many US agricultural commodities extended their rallies this week, driven primarily by a weaker US dollar. Although the greenback finished the trading week slightly higher (0.11%), exporters are taking advantage of a falling currency. The fundamentals, from supplies to weather, were also key factors in crops this week.  Cocoa Friday Settlement: +.00, or 0.29%, to ,416.00 per metric ton Weekly Performance: -1.43% YTD Performance: -4.81% Coffee  Friday Settlement: +%excerpt%.0015, or 0.13%, to .1965 per pound  Weekly Performance: +2.31%  YTD Performance: -7.36%  Corn  Friday Settlement: +%excerpt%.0175, or +0.52%, to .41 per pound  Weekly Performance: +5.08%  YTD Performance: -11.94%  Orange Juice  Friday Settlement: -%excerpt%.017,

Topics:
Andrew Moran considers the following as important: , , , , , , , , , , , , ,

This could be interesting, too:

Andrew Moran writes Natural Gas Rallies 14% on Smaller-Than-Expected Supply Build, Cold Weather

Marc Chandler writes Markets Continue to Struggle

Andrew Moran writes Crude Oil Crashes 5% on Bigger-Than-Expected Supply Build, COVID-19 Second Wave

Vladimir Vyun writes Video: Gold in Middle of Week October 26-30, 2020

Commodities Week in Review: August 17 to August 21 

Agriculture 

Many US agricultural commodities extended their rallies this week, driven primarily by a weaker US dollar. Although the greenback finished the trading week slightly higher (0.11%), exporters are taking advantage of a falling currency. The fundamentals, from supplies to weather, were also key factors in crops this week. 

Cocoa

  • Friday Settlement: +$7.00, or 0.29%, to $2,416.00 per metric ton
  • Weekly Performance: -1.43%
  • YTD Performance: -4.81%

Coffee 

  • Friday Settlement: +$0.0015, or 0.13%, to $1.1965 per pound 
  • Weekly Performance: +2.31% 
  • YTD Performance: -7.36% 

Corn 

  • Friday Settlement: +$0.0175, or +0.52%, to $3.41 per pound 
  • Weekly Performance: +5.08% 
  • YTD Performance: -11.94% 

Orange Juice 

  • Friday Settlement: -$0.017, or 1.46%, to $1.151 per pound 
  • Weekly Performance: -3.84% 
  • YTD Performance: +15.45% 

Rice 

  • Friday Settlement: +$0.025, or 0.2%, to $12.365 per pound 
  • Weekly Performance: +3.26% 
  • YTD Performance: +2.91% 

Soybeans 

  • Friday Settlement: -$0.015, or 0.17%, to $9.0375 per bushel 
  • Weekly Performance: +0.64% 
  • YTD Performance: -5.47% 

Sugar 

  • Friday Settlement: -0.20 cents, or 1.54%, to 12.81 cents per pound 
  • Weekly Performance: -2.29% 
  • YTD Performance: -4.69% 

Wheat 

  • Friday Settlement: +$0.06, or 1.14%, to $5.345 per bushel 
  • Weekly Performance: +6.85% 
  • YTD Performance: -4.47% 

Bitcoin 

Are bitcoin prices in store for a slump? The peer-to-peer decentralized virtual currency’s rally has taken a breather, and some analysts anticipate it will be sluggish for the rest of the month. With confidence in the broader financial markets, investors’ risk appetite seems healthy enough to buy pour into the leading stock indexes. But experts are still bullish for the rest of the year, forecasting the cryptocurrency to reach between $15,000 and $20,000 by year’s end. 

  • Friday Settlement: -$290.00, or 2.44%, to $11,605.00 per coin 
  • Weekly Performance: -2.23% 
  • YTD Performance: +60.73% 

Energy 

It was a mixed week for the energy sector as fundamentals and economic uncertainty weighed on crude oil. Once again, natural gas recorded a huge weekly gain, most of which was enjoyed during one or two trading sessions. This has been the trend so far this month for the so-called bridge fuel. Investors will wait to see if natural gas will test the crucial $2.50 mark. 

West Texas Intermediate (WTI) Crude Oil 

  • Friday Settlement: -$0.57, or 1.33%, to $42.25 per barrel 
  • Weekly Performance: +0.05% 
  • YTD Performance: -30.98% 

Brent Crude Oil 

  • Friday Settlement: -$0.09, or 0.2%, to $44.26 per barrel 
  • Weekly Performance: -1.54% 
  • YTD Performance: -32.97% 

Natural Gas 

  • Friday Settlement: +$0.089, or 3.78%, to $2.441 per million British thermal units (btu) 
  • Weekly Performance: +4.09% 
  • YTD Performance: +11.82% 

Gasoline 

  • Friday Settlement: -$0.0215, or 1.66%, to $1.275 per gallon 
  • Weekly Performance: +2.08% 
  • YTD Performance: -24.88% 

Heating Oil 

  • Friday Settlement: -$0.0379, or 3.00%, to $1.2266 per gallon 
  • Weekly Performance: -1.18% 
  • YTD Performance: -39.46% 

Metals 

For the second straight week, it was a roller coaster ride for the metals market, with gold and silver prices seesawing. Gold suffered its first back-to-back weekly losses since March, while the white metal squeaked out a weekly gain. Copper prices topped $3 this week before paring their increase. 

Gold

  • Friday Settlement: +$0.90, or 0.05%, to $1,947.40 per ounce 
  • Weekly Performance: -0.32% 
  • YTD Performance: +28.12% 

Silver 

  • Friday Settlement: -$0.262, or 0.97%, to $26.885 per ounce 
  • Weekly Performance: +1.28% 
  • YTD Performance: +50.20% 

Copper 

  • Friday Settlement: -$0.048, or 1.61%, to $2.9265 per pound 
  • Weekly Performance: +2.2% 
  • YTD Performance: +4.57% 

Palladium 

  • Friday Settlement: -$8.10, or 0.37%, to $2,178.80 per ounce 
  • Weekly Performance: +1.81% 
  • YTD Performance: +13.93% 

Platinum 

  • Friday Settlement: -$0.50, or 0.05%, to $926.40 per ounce 
  • Weekly Performance: -3.49% 
  • YTD Performance: -4.67% 

If you have any questions and comments on commodities today, use the form below to reply. 


© AndrewMoran for Commodity Blog, 2020. | Permalink | No comment | Add to

Better Feed from Ozh

Andrew Moran
I am a full-time professional writer. Prior to my self-employment, I worked as a reporter for Digital Journal covering the politics beat and The Toronto Times reporting on the city’s entertainment scene. I currently write mostly about business, marketing and finance

Leave a Reply

Your email address will not be published. Required fields are marked *