# Commodities weekly: Inflation surprise weighs on metals as energy markets diverge

> Bloomberg Commodity Total Return Index is heading for a fourth weekly decline after a hotter-than-expected US October CPO report lifted Treasury yields and the dollar. Gold slumped to a 13-month low, while natural gas rose on colder weather and corn and soybeans rebounded on tighter US supply estimates.

- Date: 2026-11-13 · published 2026-11-13T15:11:47.393Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/98010-commodities-weekly-inflation-surprise-weighs-on-metals-as-energy-markets-diverge
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar and higher yields weigh on commodity prices broadly, while tighter US corn and soybean supply estimates support grain prices. Persistent fuel and LNG tightness could keep energy costs elevated for feed production and transport.

## Read by commodity

- DXY: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-10-22 | [Goldman Sachs: Commodities bull market ahead on dollar, inflation risk](https://feedsoft.ai/events/50555-goldman-sachs-commodities-bull-market-ahead-on-dollar-inflation-risk.md) | -1.4% | +9.7% |
| SOY | 2021-04-30 | [Inflationary Signs Are Everywhere In The Commodities Market \| Investing.com](https://feedsoft.ai/events/47516-inflationary-signs-are-everywhere-in-the-commodities-market-investing-com.md) | +4.1% | -0.4% |
| SOY | 2021-06-10 | [In the eye of the storm: How the oilseeds market emerged as the global driver of agriculture markets, its role in wider food price inflation - Fastmarkets](https://feedsoft.ai/events/46619-in-the-eye-of-the-storm-how-the-oilseeds-market-emerged-as-the-global-driver-of.md) | -7.3% | -11.0% |
| SOY | 2021-04-30 | [Inflation-tolerant Fed will boost commodity prices \| Reuters](https://feedsoft.ai/events/47512-inflation-tolerant-fed-will-boost-commodity-prices-reuters.md) | +4.1% | -0.4% |
| SOY | 2025-08-22 | [Commodity Prices Surge As Powell Signals September Fed Rate Cut \| FXEmpire](https://feedsoft.ai/events/23247-commodity-prices-surge-as-powell-signals-september-fed-rate-cut-fxempire.md) | -0.6% | -0.9% |
| CORN | 2020-10-22 | [Goldman Sachs: Commodities bull market ahead on dollar, inflation risk](https://feedsoft.ai/events/50555-goldman-sachs-commodities-bull-market-ahead-on-dollar-inflation-risk.md) | +1.6% | +11.5% |
| CORN | 2021-04-30 | [Inflationary Signs Are Everywhere In The Commodities Market \| Investing.com](https://feedsoft.ai/events/47516-inflationary-signs-are-everywhere-in-the-commodities-market-investing-com.md) | +5.0% | -2.1% |
| CORN | 2017-02-03 | [LIVESTOCK MARKETS: Commodity bubble to start inflating](https://feedsoft.ai/events/72614-livestock-markets-commodity-bubble-to-start-inflating.md) | -1.2% | +0.6% |

## Sources

- home.saxo: https://www.home.saxo/en-ch/content/articles/commodities/commodities-weekly-inflation-surprise-weighs-on-metals-as-energy-markets-diverge-13112026
- home.saxo: https://www.home.saxo/en-gb/content/articles/commodities/commodities-weekly-inflation-surprise-weighs-on-metals-as-energy-markets-diverge-13112026

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