For daily and weekly charts of the old CRB and for the CCI commodity indices, traders can go to the web site
Commodities continued their four-month slide, with each of those indices losing more than 11% since June 30. The culprits? First, the US dollar, which gained more than 9% during those four months. Second, good weather, which helped drive major crops uniformly lower: soybeans over 9%, corn 11%, wheat nearly 8%. Third, US shale oil and a Saudi decision to pump more oil combined to help drive crude oil almost 24% lower!
The buzzword now is
Most commodities are, as of October 31, grossly oversold within bear markets. Thus, without some kind of black swan, one would think the best they could do for now is to mount moderate relief rallies.
No matter what, we must be ready to ...