Commodity Report #40
About crude oil weakness ahead, a fragile gold breakout and the correlation between shipping rates and commodities
The benchmark, CRB Commodity Index, ended the week just a tad higher.
In general oil-related futures were weak and natgas was strong because of colder weather ahead in the US. The relative strength of natgas vs. crude also shows that the rally in oil-related products might have gotten too far too fast.
Softs had a weaker week. IMO this trend should conti…