Corn, Wheat Join in Commodities Selloff While Cocoa Rallies - Commodities Weekly Markets Wrap

Commodities declined by 1.8% this week led by losses in corn and wheat, while cocoa prices saw the largest gain

May 14, 2021 by Kwhen Finance Editors

Corn, Wheat Join in Commodities Selloff While Cocoa Rallies - Commodities Weekly Markets Wrap

Global commodity fell by 1.8% this week fueled by a 9.2% decline in corn and a 6.5% decline in wheat. Corn is currently up 31.8% year-to-date, and up 72.4% over the past 12 months. Wheat is currently up 10.6% year-to-date, and up 32.7% over the past 12 months. Meanwhile, the S&P 500 Index is currently up 10.1% year-to-date, and up 48.0% over the past 12 months. The Dow Jones Industrial Average is currently up 11.9% year-to-date, and up 49.1% over the past 12 months.

Sector Performance

  • The S&P GSCI Total Return Index, the leading measure of general commodity price movements, fell by 1.8%.
  • The Bloomberg Commodity Index TR, which measures the collateralized returns from a basket of 23 commodity futures contracts, declined by fell by 1.4%.
  • Cocoa rose the most with a 3.6% gain
  • Corn fell the most with a 9.2% decline
  • Others commodities that gained include Copper, Natural Gas and Gold, which rose by an average of 1.0%
  • Others commodities that declined include Wheat, Coffee and Sugar, which rose by an average of -4.5%
NameTickerDoD %ΔYTD %Δ1 Yr %Δ2 Yr %Δ5 Yr %Δ
Market
S&P GSCI Total Return IndexGSG+0.59%+23.4%+73.3%-4.0%+0.5%
Bloomberg Commodity Index TRDJCB+0.38%+18.6%+56.2%+16.6%+16.6%
S&P 500SPY+1.9%+10.1%+48.0%+51.5%+120.3%
Dow Jones Industrial AverageDIA+2.1%+11.9%+49.1%+40.1%+116.5%
Gainers
CocoaNIB-0.71%-0.7%+8.3%+18.8%-17.3%
CopperCPER-0.62%+32.8%+95.1%+69.8%+107.6%
Natural GasUNG-0.094%+15.8%-6.0%-53.1%-60.7%
GoldIAU+0.80%-3.9%+6.2%+40.0%+41.9%
Losers
CornCORN-3.0%+31.8%+72.4%+38.1%-6.0%
WheatWEAT-0.22%+10.6%+32.7%+37.4%-22.2%
CoffeeJO-1.7%+12.1%+27.0%+32.9%-15.0%
SugarSGG-1.6%+16.0%+63.4%+31.2%+8.0%
Crude Oil (Brent)BNO+2.5%+32.3%+121.0%-15.0%+16.5%
SoybeanSOYB+0.34%+20.9%+74.4%+64.0%+17.6%
Crude Oil (West Texas)DBO+1.7%+36.2%+108.3%+10.9%+36.0%
SilverSLV+1.2%+2.4%+72.9%+81.8%+54.5%

Relative Sector Performance

  • Relative to the S&P GSCI Total Return Index, Cocoa outperformed the most by +5.4%. with Copper as the next best performer with a relative outperformance of +3.0%.
  • Additional commodities that outperformed the S&P GSCI Index included Natural Gas, Gold and Silver by an average of +2.1%.
  • Relative to the S&P GSCI Total Return Index, Corn underperformed the most by -7.4%. with Wheat as the next worst performer with a relative underperformance of -4.7%.
  • Additional commodities that underperformed the S&P GSCI Index included Coffee and Sugar by an average of -1.7%.
NameTickerDoD %ΔYTD %Δ1 Yr %Δ2 Yr %Δ5 Yr %Δ
Market
S&P GSCI Total Return IndexGSG+0.59%+23.4%+73.3%-4.0%+0.5%
Relative Outperformers
CocoaNIB-1.3%-24.1%-65.1%+22.8%-17.8%
CopperCPER-1.2%+9.3%+21.7%+73.8%+107.1%
Natural GasUNG-0.69%-7.7%-79.4%-49.1%-61.2%
GoldIAU+0.21%-27.4%-67.1%+44.1%+41.4%
SilverSLV+0.60%-21.0%-0.4%+85.8%+54.1%
Crude Oil (West Texas)DBO+1.2%+12.7%+35.0%+15.0%+35.5%
SoybeanSOYB-0.25%-2.5%+1.0%+68.1%+17.2%
Crude Oil (Brent)BNO+1.9%+8.9%+47.7%-11.0%+16.0%
Relative Underperformers
CornCORN-3.6%+8.3%-1.0%+42.1%-6.5%
WheatWEAT-0.81%-12.9%-40.7%+41.5%-22.7%
CoffeeJO-2.3%-11.4%-46.3%+36.9%-15.5%
SugarSGG-2.2%-7.5%-9.9%+35.3%+7.6%

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