Percent Change for Key Commodities & Indicies

Copper, another industrial commodity, also performed well as did the precious metals silver and gold.

The worst performer of the year was heating oil, down 27% for 2020 as the energy complex in general was a laggard this year based on the dampening impact the pandemic had on driving with many people working remote and foregoing their normal vacations.

The grain and oilseed markets were uniformly higher with the cumulative year-end gains topped by the percent recovery from ten year lows seen in both corn and soybeans at the beginning of August when there was serious talk of 2020/21 corn ending stocks topping 3.0 billion bushels and beans in excess of 800 million bushels.

The surge in feed prices and the drop in demand at away from home food service establishments resulted in general losses for the livestock complex while the softs markets other than orange juice has both moderate price changes and limited variability.

Despite the worst economic downturn since the Great Depression, the major equity markets posted impressive returns last year finishing 2020 at record-high levels with the S&P 500 index finishing 2020 with a gain of 16.3% for the year.

Meanwhile the dollar has been on a steady slide since the end of March, currently trading close to three-year lows and not far from breaching major support that could result in the greenback depreciating to levels not seen since late 2014.

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