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CBOT weekly outlook: Bearish picture for commodities

Prices may not go much lower given the commodities have hit contract lows, says analyst

Ahead of the United States Department of Agriculture Outlook Forum, analyst Bryan Strommen of Progressive Ag in Fargo, N.D. painted a rather bearish picture for the commodity markets. However, he noted that prices might not go much lower given the commodities have hit contract lows.



Aerial view of Centerm, a Burrard Inlet terminal for containerized cargo at the Port of Vancouver. (Bloodua/iStock/Getty Images)

Commodity prices to remain high in 2024, drop in 2025 – HSBC

Most agricultural products expected to outperform energy, industrial metals amid supply constraints, dry weather

Squeezed supply, improved Chinese demand and the global energy transition will keep commodity prices elevated in 2024, before falling the following year, forecasted British banking group HSBC today.


ICE March 2024 canola as of Dec. 8, 2023, with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Canola likely to keep sliding back 

With larger crop, trade likely to be overwhelmed by deliveries, analyst says

There is a rather significant bearish outlook for canola for the rest of December, according to Jerry Klassen of Resilient Commodity Analysis. He said a large part of this was generated by the Statistics Canada production report released on Dec. 4.