Tag Archives: corn

Apr 20, 2021

One Year after the Rapid Reset

What a difference a year makes. April 21, 2021, marks the one-year anniversary of the S&P GSCI’s low. Since then, we have entered a different economic, social, and geopolitical environment, and the S&P GSCI was up 60% as of April 19, 2021. On March 26, 2020, three days after the low in the S&P 500®,…

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Apr 13, 2021

Renewable Diesel Feedstock – Green Fuel and Affordable Food Part 2

As market participants increasingly incorporate ESG metrics into all aspects of investing, it is inevitable that commodities investing would collide with ESG. The search for low-carbon fuel feedstocks from renewable sources to meet the demand for green energy is one area where the commodity-ESG conundrum is already apparent. In part 1 of our blog, we…

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Apr 1, 2021

A Quiet End to a Strong Quarter for Commodities

The S&P GSCI will commemorate its 30th anniversary in April 2021 following one of the better quarterly performances in its history. Despite giving up some of its recent gains in March, the S&P GSCI rose 13.5% in Q1 2021. A robust, if uneven, post-pandemic recovery in economic activity, ongoing supply dislocations, and the global push…

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Feb 1, 2021

Commodities Start the Year on the Front Foot

The headline S&P GSCI rose 4.9% in January, as the industrial portion of the global economy continued to bounce back from the first wave of the COVID-19 pandemic and lockdowns in 2020, and the prices of many agricultural commodities spiked higher on the back of record demand from Asia and the growing risk of grain…

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Nov 17, 2020

Where Do You See Yourself in Five Years? China Stocks Up ahead of Their Latest Five-Year Plan

When discussing global economic recoveries, China is usually at the forefront of the conversation. As of Nov. 16, 2020, metal commodities with an industrial focus were the outperformers YTD. China is the world’s top industrial metal destination. Exhibit 1 shows the top 10 performing commodities tracked by S&P DJI. Seven metal commodities made it to…

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May 1, 2020

Will April Pain Lead to May Gain for Commodities?

COVID-19 continued to wreak havoc across commodities markets in April. The S&P GSCI fell 9.67% in April and 47.92% YTD. Economic data continued to weaken into uncharted territory. Supply chains crucial to the flow of commodities from extraction to consumption experienced a sudden shut off and demand collapsed. Energy and agriculture underperformed, while metals offered…

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Sep 3, 2019

August 2019 Commodities Performance Highlights – Tweets, Trade, and Tumult

Commodities markets struggled under the weight of an acceleration in trade tensions between the U.S. and China and growing evidence of a slowdown in global economic activity in August. The S&P GSCI was down 5.6% for the month but remained up 6.7% YTD. The Dow Jones Commodity Index (DJCI) was down 2.7% in August and…

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Jul 15, 2019

Corn Pops to a New High

Several catalysts, including U.S. Corn Belt production issues, drove corn futures prices to a new five-year high in June 2019. Investors were net short corn in May 2019, and the short covering contributed to the break higher. Prices broke through the 2017 peak after heavy floods in the Midwest prevented farmers from planting corn in…

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Jun 3, 2019

Commodities Performance Highlights – May 2019

There was a notable reversal of fortunes across the commodities complex in May. The S&P GSCI was down 8.2% for the month but remained up 8.5% YTD. The Dow Jones Commodity Index (DJCI) was down 3.6% in May and up 3.7% YTD, reflecting its lower energy weighting. A sharp correction in petroleum prices combined with…

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Apr 2, 2019

Commodities Performance Highlights – March 2019

It has been a noteworthy start to 2019 for commodities. The S&P GSCI was up 1.6% in March and up 15.0% YTD. The performance of the Dow Jones Commodity Index (DJCI) was more modest in March, up 0.1%, and it was up 7.5% YTD, reflecting its lower energy weighting. Petroleum prices were the standout driver…

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