# Commodities and Precious Metals Update (Week Ending Feb. 1)

> GraniteShares' weekly update for the week ending February 1 reports crude oil up about 3%, natural gas down 11%, and corn and soybeans lower by 0.5% and 0.8%. Chicago wheat gained 0.8%, and the FOMC held rates steady with a more patient stance.

- Date: 2019-02-04 · published 2019-02-04T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/60510-commodities-and-precious-metals-update-week-ending-feb-1
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Higher crude supports biofuel feedstock demand, while the weekly grain declines reflect routine market moves with no new supply or demand cause.

## Read by commodity

- SOY: bearish ▼
- WTI: bullish ▲
- CORN: bearish ▼
- WHEAT: bullish ▲

## Sources

- graniteshares.com: https://graniteshares.com/research/commodities-and-precious-metals-update-week-ending-feb-1/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.