Commodities

Crude Oil And Base Metals Drop On Underwhelming Economic Releases

Lumber, soybean oil, pork as well as CO2 emission permits keep rising

Published ET

Sources: ϕpost, FactSet data

Sources: ϕpost, FactSet data


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NOTABLE GAINERS

  • CME Random Length Lumber Electronic Commodity Future Continuation 1 up 8.3% (YTD: +80.5%)
  • Pork Primal Cutout Picnic Livestock Mandatory Report up 8.2% (YTD: +57.0%)
  • CBoT Corn Composite Commodity Future up 4.3% (YTD: +51.3%)
  • Bursa Malaysia Crude Palm Oil Commodity Future Continuation 1 up 4.2% (YTD: +18.0%)
  • Silver up 3.8% (YTD: +2.0%)
  • CBoT Soybean Oil up 3.5% (YTD: +57.7%)
  • Platinum up 2.5% (YTD: +15.0%)
  • CME Lean Hogs up 1.8% (YTD: +57.5%)
  • ICE-US Cotton No. 2 up 1.5% (YTD: +11.6%)
  • Gold up 1.4% (YTD: -5.5%)

NOTABLE LOSERS

  • ICE-US Cocoa down -5.3% (YTD: -10.6%)
  • CME Live Cattle down -3.5% (YTD: +2.1%)
  • ICE-US Sugar No. 11 down -2.0% (YTD: +8.0%)
  • ICE-US Coffee down -1.9% (YTD: +8.2%)
  • CBoT Wheat down -1.6% (YTD: +13.3%)
  • CBoT Soybean Meal down -1.5% (YTD: -4.2%)
  • CME Cattle (Feeder) down -1.1% (YTD: -4.2%)
  • Coffee Arabica Colombia Excelso down -0.9% (YTD: +8.8%)
Sources: ϕpost, FactSet dataSources: ϕpost, Refinitiv data

ENERGY

  • WTI crude spot currently at US$ 64.41 per barrel, down -2.3% on the day (YTD: +31.3%);
  • 6-month term structure in tightening backwardation 
  • Brent crude spot currently at US$ 68.33 per barrel, down -0.4% on the day (YTD: +34.3%); 6-month term structure in tightening backwardation 
  • Brent volatility at 33.6, up 5.0% on the day (12-month range: 24.7 - 100.4)
  • Newcastle Coal (ICE Europe) currently at US$ 92.80 per tonne, up 0.4% on the day (YTD: +15.9%)
  • Natural Gas (Henry Hub) currently at US$ 2.96 per MMBtu, up 0.7% on the day (YTD: +15.4%); 6-month term structure in tightening backwardation 
  • Gasoline (NYMEX) currently at US$ 2.12 per gallon, down -1.4% on the day (YTD: +47.0%); 6-month term structure in widening backwardation 
  • Low Sulphur Gasoil (ICE Europe) currently at US$ 543.00 per tonne, down -1.8% on the day (YTD: +26.9%); 6-month term structure in tightening backwardation 
Sources: ϕpost, FactSet dataSources: ϕpost, Refinitiv data

BASE METALS

  • Copper (COMEX) currently at US$ 4.54 per pound, down -0.3% on the day (YTD: +27.5%)
  • Iron Ore (Dalian Commodity Exchange) currently at CNY 1,235.00 per tonne, down -1.2% on the day (YTD: +14.5%)
  • Aluminium (Shanghai) currently at CNY 18,860 per tonne, up 0.6% on the day (YTD: +20.2%)
  • Nickel (Shanghai) currently at CNY 129,850 per tonne, up 0.1% on the day (YTD: +4.9%)
  • Lead (Shanghai) currently at CNY 15,095 per tonne, down -0.9% on the day (YTD: +2.7%)
  • Rebar (Shanghai) currently at CNY 5,362 per tonne, unchanged (YTD: +27.1%)
  • Tin (Shanghai) currently at CNY 191,910 per tonne, up 1.0% on the day (YTD: +27.6%)
  • Zinc (Shanghai) currently at CNY 21,910 per tonne, down -1.4% on the day (YTD: +5.0%)
  • Refined Cobalt (Shanghai) spot price currently at CNY 350,500 per tonne, unchanged (YTD: +27.9%)
  • Lithium (Shanghai) spot price currently at CNY 585,000 per tonne, unchanged (YTD: +20.6%)
Sources: ϕpost, FactSet dataSources: ϕpost, Refinitiv data

PRECIOUS METALS

  • Gold spot currently at US$ 1,788.86 per troy ounce, up 1.4% on the day (YTD: -5.5%)
  • Gold 1-Month ATM implied volatility currently at 12.20, up 8.9% on the day (YTD: -23.1%)
  • Silver spot currently at US$ 26.75 per troy ounce, up 3.8% on the day (YTD: +2.0%)
  • Silver 1-Month ATM implied volatility currently at 26.03, up 3.9% on the day (YTD: -36.5%)
  • Palladium spot currently at US$ 2,973.36 per troy ounce, up 1.0% on the day (YTD: +21.3%)
  • Platinum spot currently at US$ 1,228.47 per troy ounce, up 2.5% on the day (YTD: +15.0%)
  • Rhodium (Johnson Matthey, New York 09:30) currently at US$ 29,500 per troy ounce, unchanged (YTD: +73.0%)
  • Iridium (Johnson Matthey, New York 09:30) currently at US$ 6,300 per troy ounce, unchanged (YTD: +142.3%)
Sources: ϕpost, FactSet dataSources: ϕpost, Refinitiv data

AGRICULTURE

  • Live Cattle (CME) currently at US$ 115.30 cents per pound, down -3.5% on the day (YTD: +2.1%)
  • Lean Hogs (CME) currently at US$ 110.70 cents per pound, up 1.8% on the day (YTD: +57.5%)
  • Rough Rice (CBOT) currently at US$ 13.43 cents per hundredweight, up 0.4% on the day (YTD: +8.3%)
  • Soybeans Composite (CBOT) currently at US$ 1,560.25 cents per bushel, up 1.2% on the day (YTD: +18.6%)
  • Corn (CBOT) currently at US$ 734.00 cents per bushel, up 4.3% on the day (YTD: +51.3%)
  • Wheat Composite (CBOT) currently at US$ 725.50 cents per bushel, down -1.6% on the day (YTD: +13.3%)
  • Sugar No.11 (ICE US) currently at US$ 16.73 cents per pound, down -2.0% on the day (YTD: +8.0%)
  • Cotton No.2 (ICE US) currently at US$ 87.21 cents per pound, up 1.5% on the day (YTD: +11.6%)
  • Cocoa (ICE US) currently at US$ 2,328 per tonne, down -5.3% on the day (YTD: -10.6%)
  • Coffee Arabica (Colombia Excelso) currently at EUR 3,445 per tonne, down -0.9% on the day (YTD: +8.8%)
  • Random Length Lumber (CME) currently at US$ 1,575.60 per 1,000 board feet, up 8.3% on the day (YTD: +80.5%)
  • TSR 20 Rubber (Shanghai) currently at CNY 11,015 per tonne, down -0.2% on the day (YTD: +10.2%)
  • Soybean Oil Composite (CBOT) currently at US$ 68.31 cents per pound, up 3.5% on the day (YTD: +57.7%)
  • Crude Palm Oil (Bursa Malaysia) currently at MYR 4,593 per tonne, up 4.2% on the day (YTD: +18.0%)
Sources: ϕpost, FactSet dataSources: ϕpost, Refinitiv data

SHIPPING

  • Baltic Dry Index (Baltic Exchange) currently at 3,053, up 1.5% on the day (YTD: +123.5%)
  • Freightos China To North America West Coast Container Index currently at 4,979, unchanged (YTD: +25.3%)
  • Freightos North America West Coast To China Container Index currently at 812, unchanged (YTD: +47.8%)
  • Freightos North America East Coast To Europe Container Index currently at 495,unchanged (YTD: +47.3%)
  • Freightos Europe To North America East Coast Container Index currently at 3,532, unchanged (YTD: +78.3%)
  • Freightos China To North Europe Container Index currently at 8,044, up 0.2% on the day (YTD: +59.1%)
  • Freightos North Europe To China Container Index currently at 1,660, unchanged (YTD: +12.1%)
  • Freightos Europe To South America West Coast Container Index currently at 3,042, unchanged (YTD: +78.4%)    

CARBON EMISSION ALLOWANCES (CO2)

  • EUA futures front month (European Energy Exchange) currently at EUR 48.74 per tonne, up 1.2% on the day (YTD: +53.9%)  
Sources: ϕpost, Refinitiv dataSources: ϕpost, Refinitiv dataSources: ϕpost, Refinitiv data