Commodity Compass Newsletter Weeks 20-21, 2026
During Weeks 20 and 21 of 2026, global commodity markets showcased a range of shifts within industries, marked by an impressive performance from livestock and energy, a significant fall in precious metals, and divergent trends among industrial metals and agricultural commodities.
Food and beverage commodities
Food and beverage commodities displayed sharply contrasting movements.
- Beef prices in the US rose from $454.0/lb to $462.4/lb.
- Chicken prices in the US rose from $123.4/lb to $124.6/lb.
- Cocoa prices in the UK fell from GBP 3,274/MT to GBP 2,895/MT.
- Coconut oil prices in Europe fell from $2,186/MT to $2,144/MT.
- Coffee prices in the UK fell from $3,461/MT to $3,367/MT.
Grains and oilseeds
Among grains and oilseeds, mixed price movements emerged across major markets.
- Maize prices in the US fell from 471.7 cents/bushel to 466.6 cents/bushel.
- Soybean meal prices in the US fell from $336.1/MT to $332.5/MT.
- Rice prices in the US rose from $12.25/CWT to $12.94/CWT.
- Soybeans prices in the US rose from 1,198 cents/bushel to 1,200 cents/bushel.
- Wheat prices in the US rose from 654.7 cents/bushel to 655.2 cents/bushel.
- Soybean oil prices in the US rose from 74.4 cents/lb to 74.5 cents/lb.
- Palm oil prices in China rose from $1,377/MT to $1,383/MT.
- Sugar prices globally fell from 14.99 cents/lb to 14.81 cents/lb.
Metals and minerals
Metals and minerals underwent selective profit-taking following strong mid-month gains.
- Copper prices in the UK fell from $13,882/MT to $13,552/MT.
- Nickel prices in the UK fell from $18,912/MT to $18,760/MT.
- Tin prices in the UK fell from $54,645/MT to $52,732/MT.
- Iron ore prices in China fell from $111.14/MT to $110.08/MT.
- Lead prices in the UK fell from $1,998/MT to $1,992/MT.
- Aluminium prices in the UK rose from $3,598/MT to $3,616/MT.
- Zinc prices in the UK rose from $3,527/MT to $3,532/MT.
Chemical markets
Chemical markets reflected mixed yet generally suppressed pricing power.
- Ammonia prices in China fell from $348.6/MT to $335.4/MT.
- Ethylene prices in China rose from $1,169/MT to $1,239/MT.
- Propylene prices in China fell from $1,361/MT to $1,346/MT.
- Caustic soda prices in China fell from $91.6/MT to $91.2/MT.
- Soda ash prices in China fell from $176.5/MT to $175.7/MT.
- Benzene prices in China rose from $1,228/MT to $1,231/MT.
- Methanol prices in China rose from $459.9/MT to $470.6/MT.
Precious metals
Precious metals faced a substantial correction across the board.
- Gold prices in the US fell from $4,633/t.oz to $4,525/t.oz.
- Platinum prices in the US fell from $2,056/t.oz to $1,950/t.oz.
- Silver prices in the US fell from $81.87/t.oz to $75.57/t.oz.
Energy markets
Energy markets are relatively quiet with power production and heating demand providing steady support.
- Coal prices in the Netherlands rose from $108.6/MT to $112.2/MT.
- Natural gas prices in the US rose from $2.90/MMBtu to $3.02/MMBtu.
Overall, Weeks 20-21 of 2026 were defined by momentum in livestock, thermal energy, and select light metals, contrasted by broad weakness in precious metals, soft agricultural fibers, and persistent cooling across industrial chemical benchmarks.