Commodities & Futures update: February 23rd update

Commodity prices continue their upward run! We saw Oil prices close over $100 then retreat back a bit, while Gold and Platinum hit new highs, and the grains continued to move up. Traders interested in the commodity boom can look at some of the ETFs on the market like DBA, DBC, and DJP. Of course there is also GLD, SLV, and USO.

Grains

Wheat prices finally pulled back a bit. I expect the up-trend to resume at some point though.
Corn and Soybeans still trending up.

Softs

Sugar still in an up-trend; keep your eye on the Jan 2006 highs -hopefully we won't go back there.
Cotton and Coffee also on the rise.

Bonds

Bonds rose a bit this week, pushing yields down again. The overall downtrend for the month continues though, suggesting continued inflation concerns.

Currencies

The Euro is almost at the $1.49 top again (4th time in 4 months) -will it go higher this time?
The Canadian dollar and the British Pound are still languishing in a trading range after falling from their November highs.
The Yen is also in a trading range, though it looks like it wants to break out to the upside.
Th US Dollar is still in a trading range near it's multi-decade low.

Energy

Oil closed over $100 then pulled back to the $98 area.
Natural Gas also hit a high of $9 before pulling back.

Metals

Platinum was the story this week as it continued to hit new highs. Catalytic converters are now a hot item for thieves!