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The S&P GSCI fell 9.67% in April 2020 and 47.92% year to date, with energy and agriculture underperforming while industrial metals rose 0.96%. Crude oil dropped another 40.69% in April after negative front-month prices on April 20.
The IEA projects global energy demand could fall 6% in 2020.
Collapsing energy demand and weak crude prices reduce biofuel economics and feed-grain demand, pressuring agricultural prices. Lower energy costs also weigh on freight and input costs.
spglobal.comJim WiederholdApr 30, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
