S&P GSCI Surges, Dips Year-to-Date

This is a China news story, published by CNBC, that relates primarily to ICE news.

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commodity markets

CNBC

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Business

Business & Economics

Global commodities' biggest winners and losers this year — and where they're headed

Summary

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92% Informative

The S&P GSCI, a benchmark for the overall commodity market's performance, rose as much as 12% in April from the start of the year , before tapering off to a 2.18% climb year-to-date .

Orange juice futures surged to a record in May and is currently hovering around historically high levels of $ 4.49 per pound on ICE .

Cocoa futures soared to an all-time high of $ 11,722 per metric ton in April amid a bean shortage.

The benchmark 62%-grade iron ore last traded at $ 98.10 per ton on the New York Mercantile Exchange for the contract expiring Aug. 30 .

Wheat, corn, and soybeans also saw significant slumps on what appears to be a bumper crop year.

Continued weak demand from China will cap price growth across most commodities, with industrial metals expected to lose out further.

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formal

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English