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Commodities Week in Review: January 11 to January 15

Summary:
Commodities Week in Review: January 11 to January 15 Agriculture  The agriculture market had a surprisingly good week, despite a strengthening US dollar. Agricultural commodities ballooned over the last five sessions on strong fundamentals, including surging foreign demand, tightening supplies, and volatile weather conditions. Agriculture prices are expected to climb even further in 2021 amid the COVID-19 global public health crisis. Cocoa  Friday Settlement: +.00, or 0.32%, to ,535 per metric tons Weekly Performance: +1.2% YTD Performance: -2.39% Coffee  Friday Settlement: -%excerpt%.004, or 0.31%, to .2775 per pound Weekly Performance: +3.86% YTD Performance: +0.35% Corn  Friday Settlement: -%excerpt%.035, or 0.66%, to .3075 per pound Weekly Performance: +6.79% YTD Performance: +9.26%

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Commodities Week in Review: January 11 to January 15

Agriculture 

The agriculture market had a surprisingly good week, despite a strengthening US dollar. Agricultural commodities ballooned over the last five sessions on strong fundamentals, including surging foreign demand, tightening supplies, and volatile weather conditions. Agriculture prices are expected to climb even further in 2021 amid the COVID-19 global public health crisis.

Cocoa 

  • Friday Settlement: +$8.00, or 0.32%, to $2,535 per metric tons
  • Weekly Performance: +1.2%
  • YTD Performance: -2.39%

Coffee 

  • Friday Settlement: -$0.004, or 0.31%, to $1.2775 per pound
  • Weekly Performance: +3.86%
  • YTD Performance: +0.35%

Corn 

  • Friday Settlement: -$0.035, or 0.66%, to $5.3075 per pound
  • Weekly Performance: +6.79%
  • YTD Performance: +9.26%

Cotton 

  • Friday Settlement: -0.38 cent, or 0.47%, to 80.77 cents per pound
  • Weekly Performance: +1.19%
  • YTD Performance: +3.27%

Orange Juice 

  • Friday Settlement: +$0.0075, or 0.62%, to $1.226 per pound
  • Weekly Performance: -1.96%
  • YTD Performance: -2.58%

Rice 

  • Friday Settlement: -$0.08, or 0.61%, to $13.075 per pound
  • Weekly Performance: +2.99%
  • YTD Performance: +2.63%

Soybeans 

  • Friday Settlement: -$0.1575, or 1.1%, to $14.1475 per bushel
  • Weekly Performance: +2.76%
  • YTD Performance: +7.98%

Sugar 

  • Friday Settlement: -0.24 cent, or 1.44%, to 16.43 cents per pound
  • Weekly Performance: +5.73%
  • YTD Performance: +6.00%

Wheat 

  • Friday Settlement: +$0.0475, or 0.71%, to $6.7475 per bushel
  • Weekly Performance: +5.76%
  • YTD Performance: +5.14%

Bitcoin 

The peer-to-peer decentralized cryptocurrency bitcoin experienced a bit of a pullback this week, showcasing its incredible volatility. Because of the choppy trading, bitcoin prices are anticipated to go through a short-term correction. But the debate is if the digital currency will then hit fresh record highs, or come back down to earth.

  • Friday Settlement: -$3,335.00, or 8.42%, to $36,270.00 per coin
  • Weekly Performance: -10.69%
  • YTD Performance: +24.13%

Energy 

After a strong start to the trading week, energy commodities slumped to close out the second trading week of 2021. Market observers contend that this might be part of a modest correction in crude oil prices because they may have rallied too much and too soon. But investors are still bullish on oil’s long-term prospects. Natural gas, meanwhile, maintained its momentum in the first two weeks of the calendar year, buoyed by the coming Polar Vortex and strong impressive foreign demand.

West Texas Intermediate (WTI) Crude Oil 

  • Friday Settlement: -$1.53, or 2.86%, to $52.04 per barrel
  • Weekly Performance: -1.31%
  • YTD Performance: +7.48%

Brent Crude Oil 

  • Friday Settlement: -$0.10, or 0.18%, to $55.00 per barrel
  • Weekly Performance: -2.41%
  • YTD Performance: +6.34%

Natural Gas 

  • Friday Settlement: +$0.078, or 2.97%, to $2.708 per million British thermal units (btu)
  • Weekly Performance: +2.00%
  • YTD Performance: +6.78%

Gasoline 

  • Friday Settlement: -$0.0356, or 2.29%, to $1.5183 per gallon
  • Weekly Performance: -1.92%
  • YTD Performance: +7.60%

Heating Oil 

  • Friday Settlement: -$0.0332, or 2.05%
  • Weekly Performance: +0.08%
  • YTD Performance: +6.91%

Metals 

Is this the end of the bull run in precious metals? Gold and silver have struggled out of the gate in 2021, despite a few sessions where prices spiked. For the most part, they have slumped amid a strengthening greenback and the consensus that President-Elect Joe Biden would only be able to get $1.1 trillion of his $1.9 trillion plan approved, which could diminish inflation fears. Overall, the metals market could be in trouble if the buck rises any further.

Gold 

  • Friday Settlement: -$23.70, or 1.28%, to $1,827.70 per ounce
  • Weekly Performance: -1.19%
  • YTD Performance: -3.89%

Silver 

  • Friday Settlement: -$0.972, or 3.77%, to $24.83 per ounce
  • Weekly Performance: -2.63%
  • YTD Performance: -6.39%

Copper 

  • Friday Settlement: -$0.0635, or 1.73%, to $3.601 per pound
  • Weekly Performance: -2.50%
  • YTD Performance: +2.30%

Palladium 

  • Friday Settlement: -$32.30, or 1.33%, to $2,391.00 per ounce
  • Weekly Performance: +0.55%
  • YTD Performance: -2.63%

Platinum 

  • Friday Settlement: -$47.30, or 4.2%, to $1,079.10 per ounce
  • Weekly Performance: +0.37%
  • YTD Performance: -0.04%

Steel 

  • Friday Settlement: +23.00, or 2.26%, to $1,040.00 per ton
  • Weekly Performance: -1.89%
  • YTD Performance: +8.00%

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


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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

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