Monday , September 28 2020
Home / Commodity Blog / Commodities Week in Review: July 27 to July 31

Commodities Week in Review: July 27 to July 31

Summary:
Agriculture  It was a rough week for the sector as most agricultural commodities suffered a weekly loss. Many of them also endured a decline in July, primarily due to coronavirus concerns and fundamental issues.   Coffee  Friday Settlement: -%excerpt%.0035, or 0.29%, to .186 per pound  Weekly Performance: +9.61%  July Performance: +15.03%  Corn  Friday Settlement: -%excerpt%.0075, or 0.24%, to .15 per pound  Weekly Performance: -3.67%  July Performance: -8.30%  Orange Juice  Friday Settlement: -%excerpt%.0065, or 0.53%, to .211 per pound  Weekly Performance: -2.69%  July Performance: -3.2%  Rice  Friday Settlement: +%excerpt%.0065, or 0.56%, to .60 per pound  Weekly Performance: -1.74%  July Performance: -5.84%  Soybeans  Friday Settlement: +%excerpt%.0425, or 0.48%, to 2.50 per bushel  Weekly

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

This could be interesting, too:

Marc Chandler writes Dollar Correction may be One More Leg Away from Completion

Andrew Moran writes Commodities Week in Review: September 21 to September 25

Vladimir Vyun writes Oil Futures Remain Under Pressure from Demand Concerns

Andrew Moran writes Copper Poised for Big Weekly Loss on Dollar Strength, Disappointing Data

Agriculture 

It was a rough week for the sector as most agricultural commodities suffered a weekly loss. Many of them also endured a decline in July, primarily due to coronavirus concerns and fundamental issues.  

Coffee 

  • Friday Settlement: -$0.0035, or 0.29%, to $1.186 per pound 
  • Weekly Performance: +9.61% 
  • July Performance: +15.03% 

Corn 

  • Friday Settlement: -$0.0075, or 0.24%, to $3.15 per pound 
  • Weekly Performance: -3.67% 
  • July Performance: -8.30% 

Orange Juice 

  • Friday Settlement: -$0.0065, or 0.53%, to $1.211 per pound 
  • Weekly Performance: -2.69% 
  • July Performance: -3.2% 

Rice 

  • Friday Settlement: +$0.0065, or 0.56%, to $11.60 per pound 
  • Weekly Performance: -1.74% 
  • July Performance: -5.84% 

Soybeans 

  • Friday Settlement: +$0.0425, or 0.48%, to $892.50 per bushel 
  • Weekly Performance: -0.72% 
  • July Performance: -0.5% 

Sugar 

  • Friday Settlement: +0.52 cents, or 4.29%, to 12.63 cents a pound 
  • Weekly Performance: +10.02% 
  • July Performance: +3.19% 

Wheat 

  • Friday Settlement: +$0.0125, or 0.24%, to $5.3075 per bushel 
  • Weekly Performance: -1.76% 
  • July Performance: +7.88% 

Bitcoin 

Bitcoin futures enjoyed the same type of momentum as gold and silver over the last and in July. The peer-to-peer decentralized virtual currency topped $11,000 for the first time since August 2019 as investors’ fears over inflation and the coronavirus pandemic sent traders into the unconventional safe-haven asset. 

  • Friday Settlement: +$50.00, or 0.45%, to $11,195.00 per coin 
  • Weekly Performance: +16.01% 
  • July Performance: +22.95% 

Energy 

It was a mostly down week for the energy sector on supply and demand issues, as well as uncertainty surrounding the COVID-19 public health crisis. With a growing number of cases worldwide, particularly in the US, there are fears that major economies could return to lockdowns or reimpose coronavirus restrictions. This would have a tremendous impact on crude oil and natural gas, especially at a time when countries are beginning to restart operations and increase output levels. 

West Texas Intermediate (WTI) Crude Oil 

  • Friday Settlement: $0.51, or 1.28%, to $40.43 per barrel 
  • Weekly Performance: -2.20% 
  • July Performance: +0.35% 

Brent Crude Oil 

  • Friday Settlement: +$0.19, or 0.44%, to $43.71 a barrel 
  • Weekly Performance: +0.67% 
  • July Performance: +2.17% 

Natural Gas 

  • Friday Settlement: -$0.013, or 0.71%, to $1.816 per million British thermal units (btu) 
  • Weekly Performance: -2.26% 
  • July Performance: +5.21% 

Heating Oil 

  • Friday Settlement: +$0.0098, or 0.8%, to $1.2301 per gallon 
  • Weekly Performance: -2.40% 
  • July Performance: +0.45% 

Gasoline 

  • Friday Settlement: $-0.0129, or 1.08%, to $1.1779 per gallon 
  • Weekly Performance: -6.44% 
  • July Performance: -5.35% 

Metals 

It was a big week and month for the metals class as investors sought refuge in gold and silver. The industrial metals failed to spark a rally over the last five trading sessions, despite a strong July that was driven by hopes of strengthening foreign demand and a global economic recovery. All eyes will be on gold next week as the yellow metal could hit $2,000 for the first time ever. 

Gold 

  • Friday Settlement: +$51.70, or 2.66%, to $1,994.00 per ounce 
  • Weekly Performance: +4.93% 
  • July Performance: +11.58% 

Silver 

  • Friday Settlement: +$1.268, or 5.43%, to $24.63 an ounce 
  • Weekly Performance: +7.20% 
  • July Performance: +34.88% 

Copper 

  • Friday Settlement: -$0.0545, or 1.87%, to $2.8595 per pound 
  • Weekly Performance: -1.21% 
  • July Performance: +4.08% 

Platinum 

  • Friday Settlement: +$7.10, or 0.78%, to $919.70 an ounce 
  • Weekly Performance: -3.70% 
  • July Performance: +11.14% 

Palladium 

  • Friday Settlement: -$1.90, or 0.09%, to $2,133.00 an ounce 
  • Weekly Performance: -7.45% 
  • July Performance: +11.23% 

If you have any questions and comments on the 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 *