Commodities
Commodities Complex In The Red, With Agriculture Falling Close to 5%
Crude Oil Backwardation Continues To Tighten As Futures Catch Up To Spot
Published ET

Brent Crude Spot - 6 Month Forward | Source: Refinitiv
NOTABLE GAINERS
- DCE RBD Palm Oil up 3.7% (YTD: 30.6%)
- Pork Primal Cutout Picnic up 3.4% (YTD: 64.7%)
- Zhengzhou Exchange Thermal Coal up 2.8% (YTD: 18.0%)
- CBOE Crude Oil Volatility Index up 2.7% (YTD: 0.3%)
- Pork Primal Cutout Butt up 2.1% (YTD: 79.3%)
- SMM Lithium Metal Spot Price Daily up 1.7% (YTD: 26.8%)
- CME Random Length Lumber up 1.2% (YTD: 86.7%)
NOTABLE LOSERS
- CBoT Soybean Meal down -6.1% (YTD: -2.5%)
- CBoT Corn down -5.1% (YTD: 48.6%)
- SMM Rare Earth Europium Oxide Spot Price Daily down -4.9% (YTD: -7.1%)
- SMM Rare Earth Terbium Oxide Spot Price Daily down -4.8% (YTD: -4.8%)
- SGX Iron Ore 62% China CFR Swap Monthly down -4.3% (YTD: 37.6%)
- ICE-US Sugar No. 11 down -4.1% (YTD: 10.5%)
- CBoT Wheat down -3.7% (YTD: 13.4%)
- ICE-US Cotton No. 2 down -3.7% (YTD: 8.8%)
ENERGY
- WTI crude front month currently at US$ 63.85 per barrel, down -3.4% on the day (YTD: +31.5%); 6-month term structure in tightening backwardation
- Brent crude front month currently at US$ 67.05 per barrel, down -3.3% on the day (YTD: +29.4%); 6-month term structure in tightening backwardation
- Brent volatility at 32.6, down -0.2% on the day (12-month range: 24.7 - 81.5)
- Newcastle Coal (ICE Europe) currently at US$ 101.00 per tonne, up 1.0% on the day (YTD: +25.5%)
- Natural Gas (Henry Hub) currently at US$ 2.98 per MMBtu, up 0.1% on the day (YTD: +17.1%); 6-month term structure in tightening backwardation
- Gasoline (NYMEX) currently at US$ 2.09 per gallon, down -3.0% on the day (YTD: +48.8%); 6-month term structure in widening backwardation
- Low Sulphur Gasoil (ICE Europe) currently at US$ 548.75 per tonne, down -1.3% on the day (YTD: +30.4%); 6-month term structure in tightening backwardation
BASE METALS
- Copper (COMEX) currently at US$ 4.71 per pound, down -1.0% on the day (YTD: +33.9%)
- Iron Ore (Dalian Commodity Exchange) currently at CNY 1,370.00 per tonne, down -0.3% on the day (YTD: +27.0%)
- Aluminium (Shanghai) currently at CNY 19,535 per tonne, down -1.0% on the day (YTD: +25.9%)
- Nickel (Shanghai) currently at CNY 129,960 per tonne, down -1.6% on the day (YTD: +5.0%)
- Lead (Shanghai) currently at CNY 15,205 per tonne, down -1.3% on the day (YTD: +4.1%)
- Rebar (Shanghai) currently at CNY 5,938 per tonne, down -0.2% on the day (YTD: +40.7%)
- Tin (Shanghai) currently at CNY 191,890 per tonne, down -2.0% on the day (YTD: +27.2%)
- Zinc (Shanghai) currently at CNY 22,000 per tonne, down -1.0% on the day (YTD: +6.2%)
- Refined Cobalt (Shanghai) spot price currently at CNY 346,500 per tonne, unchanged (YTD: +26.5%)
- Lithium (Shanghai) spot price currently at CNY 615,000 per tonne, up 1.7% on the day (YTD: +26.8%)
PRECIOUS METALS
- Gold spot currently at US$ 1,825.47 per troy ounce, up 0.6% on the day (YTD: -3.8%)
- Gold 1-Month ATM implied volatility currently at 12.83, down -0.2% on the day (YTD: -18.3%)
- Silver spot currently at US$ 27.02 per troy ounce, up 0.3% on the day (YTD: +2.6%)
- Silver 1-Month ATM implied volatility currently at 28.45, down -1.0% on the day (YTD: -31.8%)
- Palladium spot currently at US$ 2,868.55 per troy ounce, up 0.2% on the day (YTD: +17.0%)
- Platinum spot currently at US$ 1,206.30 per troy ounce, down -0.2% on the day (YTD: +13.0%)
- Rhodium (Johnson Matthey, New York 09:30) currently at US$ 28,400 per troy ounce, up 0.4% on the day (YTD: +66.6%)
- Iridium (Johnson Matthey, New York 09:30) currently at US$ 6,300 per troy ounce, unchanged (YTD: +142.3%)
AGRO
- Live Cattle (CME) currently at US$ 115.60 cents per pound, down -2.5% on the day (YTD: +2.3%)
- Lean Hogs (CME) currently at US$ 111.48 cents per pound, down -0.3% on the day (YTD: +58.6%)
- Rough Rice (CBOT) currently at US$ 13.36 cents per hundredweight, down -2.7% on the day (YTD: +7.7%)
- Soybeans Composite (CBOT) currently at US$ 1,612.25 cents per bushel, down -2.9% on the day (YTD: +22.6%)
- Corn (CBOT) currently at US$ 719.00 cents per bushel, down -5.1% on the day (YTD: +48.6%)
- Wheat Composite (CBOT) currently at US$ 726.50 cents per bushel, down -3.7% on the day (YTD: +13.4%)
- Sugar No.11 (ICE US) currently at US$ 17.11 cents per pound, down -4.1% on the day (YTD: +10.5%)
- Cotton No.2 (ICE US) currently at US$ 84.98 cents per pound, down -3.7% on the day (YTD: +8.8%)
- Cocoa (ICE US) currently at US$ 2,502 per tonne, down -0.6% on the day (YTD: -5.5%)
- Coffee Arabica (Colombia Excelso) currently at EUR 3,544 per tonne, down -1.2% on the day (YTD: +12.0%)
- Random Length Lumber (CME) currently at US$ 1,630.00 per 1,000 board feet, up 1.2% on the day (YTD: +86.7%)
- TSR 20 Rubber (Shanghai) currently at CNY 11,080 per tonne, down -1.0% on the day (YTD: +10.9%)
- Soybean Oil Composite (CBOT) currently at US$ 68.04 cents per pound, down -0.9% on the day (YTD: +57.0%)
- Crude Palm Oil (Bursa Malaysia) currently at MYR 4,760 per tonne, up 0.3% on the day (YTD: +23.4%)
SHIPPING
- Baltic Dry Index (Baltic Exchange) currently at 3,139, down -3.5% (YTD: +129.8%)
- Freightos China To North America West Coast Container Index currently at 5,650, unchanged (YTD: +45.8%)
- Freightos North America West Coast To China Container Index currently at 798, down -2.8% on the day (YTD: +54.1%)
- Freightos North America East Coast To Europe Container Index currently at 478, unchanged (YTD: +42.2%)
- Freightos Europe To North America East Coast Container Index currently at 4,299, unchanged (YTD: +123.4%)
- Freightos China To North Europe Container Index currently at 8,345, up 0.2% on the day (YTD: +70.9%)
- Freightos North Europe To China Container Index currently at 1,753, up 0.9% on the day (YTD: +27.5%)
- Freightos Europe To South America West Coast Container Index currently at 3,054, down -0.4% on the day (YTD: +80.5%)
CARBON EMISSION ALLOWANCES (CO2)
- EUA futures front month (European Energy Exchange) currently at EUR 54.49 per tonne, down -1.5% on the day (YTD: +66.5%)