Commodities Weekly Review

Commodities were mostly lower this past week due to profit taking and firmness in the dollar. Tuesday was a big down day for most commodities as many speculators ran for the exits to lock in their profits. As the dollar stopped its slide into the abyss, traders lost one of the major catalysts that was moving commodities higher over the past month – and the selling snowballed from there.

As we go into the next week of trading for commodities, most of the uptrend still appears to be intact. The grains will likely be under pressure as harvest moves into full swing and the yields look good – except for soybeans in some areas of Illinois. The USDA will be releasing the monthly Crop Report on Friday, October 12 at 8:30 AM EST.