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!

Gold also hit new highs.
Copper also trending back up to the 2006 highs.

Stocks fell this week after rising last week -looks like we are stuck in a trading range right now since the big drop that started in October. See my Stock Market Blog for more details.

Note: Charts are 'live' so comments above refer to the appropriate time on the chart.

News Stories:
Wheat prices surge to new high
Platinum's record run resumes; gold up nearly 3%
Even at record prices, platinum is poised to go higher
They're Stealing Catalytic Converters (YouTube)
As Platinum Soars, the Catalytic Converter Gets Hot

February 9th update

The commodity bull run continues...

Grains:
Wheat prices were 'limit up' every day for the past few days! Supplies are running low.
Minneapolis Spring Wheat prices have been limit up for some time now!
Soybeans continue in an uptrend
Corn holding up at the highs.

Softs:
Sugar uptrend continues.

Currencies:
The Euro dropped like a rock from the triple top of around $1.49 down to about $1.45
The British Pound also dropped -Bank of England interest rate cuts announced.

Energy:
Oil regained strength on Friday taking it over $90 per barrel again.

Metals:
Gold moved up again after a brief pullback, closing around $923 per ounce.
Silver continues higher as well.
Copper higher as well.

Stocks gave up their previous gains and headed down again.
See my Stock Market Blog for more details.

News stories:
BoE cuts, ECB leaves rates untouched
Copper Posts Biggest Weekly Gain Since March on Supply Concerns
Soybeans Surge as Improved Global Demand Cuts U.S. Reserves
Record wheat price ignites food inflation fears
Wheat Hits Record on US Inventory Report
Note: Charts are 'live' so comments above refer to the appropriate time on the chart.

January 31st update

Commodities continue in an uptrend as reflected in the chart of the CRB index.

Wheat continues to consolidate in this price range.
Soybeans continue in an uptrend.
Sugar is in an uptrend as well.
Combo charts

The Euro is approaching a top again around $1.49 which we saw in November and again in January -currencies.

Oil may have topped out for now -we'll see.

Stocks are heading higher for now based on the 2 interest rate cuts from the Fed.
Note: Charts are 'live' so above comments refer to the appropriate time on the chart.

January 12th update

The Crop Report was released on Friday, sending grain prices higher again (see charts). Corn was 'limit up' all day, meaning that it never traded because the opening price was higher than the maximum price move allowed in one day! (see that dot on the chart at 495...)

Gold touched $900 per oz. for the first time ever, while Crude Oil retreated to around $93 on recession fears. The US Dollar lost some ground this week as well based on expectations for another interest rate cut.

Charts -the BIG picture:
Grain prices are normally seasonal, and rise and fall within a price range as each season comes and goes, with an occasional large spike in a really bad year. What we are experiencing however is not a seasonal rise in prices, but rather a longer term up trend as demand continues to outstrip supply. Translation -the Chinese are eating all our food, and the rest is being converted and put in our gas tank as ethanol!

CORN prices peaked in Jan 2007 at more than double the previous year; this month it is at an even higher level
SOYBEANS prices are up more than double from just over a year ago and the highest in over 25yrs
WHEAT prices up more than triple from just over a year ago and the highest ever on record
CRUDE Oil -well, just look at the 25yr chart; ditto Heating oil (HO) aka Diesel (transportation costs go higher!).