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Weekly Commodities ETF Report: Crude Ends Higher on Tighter Supplies; Gold Slips Lower as Positive China Data Helps Ease Global Growth Worries

(MT Newswires) – Crude ended Friday’s session higher, hitting $64 a barrel early in the week, on expectations for tighter supplies amid continued fighting in Libya, tighter US sanctions on Venezuela, and sharply lower oil production from the Organization of the Petroleum Exporting Countries (OPEC). Forces under Libya’s UN-backed government said Sunday they had started a counter-attack against the forces of Khalifa Haftar after he launched an offensive to seize Tripoli, escalating an ongoing power struggle in the oil-rich country. Meanwhile, the US Treasury Department imposed sanctions on two companies operating in Venezuela’s oil sector, in a move announced on Friday. The measures appeared designed to also hit at Cuba, which imports energy from the Latin American country. Finally, oil production from OPEC member countries and its allies fell by 534,000 barrels a day month-on-month, to average 30.02 million barrels a day in March.

Stockpiles of commercial crude in the US climbed more than expected at the beginning of the month, posting a third-straight weekly build, according to data from the Energy Information Administration. Inventories increased by seven million barrels in the week through April 5, reaching 456.5 million barrels and holding in line with the five-year average for this time of year. The build was greater than reports late Tuesday that showed the American Petroleum Institute was expecting an advance of 4.1 million barrels for crude in the week. And, energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US rose by two to 833, after jumping by 15 last week. The combined oil and gas rig count in the US, however, fell by three to 1,022 as gas rigs slid by five to 189.

Light, sweet crude oil for May delivery rose 0.85% for the week, settling at $63.89 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 2.81% during the week and settling at $2.04 per gallon on Friday. Natural gas fell 0.97% on the week, closing Friday at $2.66 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 0.52% higher this week, compared with an increase of 1.62% in the previous week.

Gold wrapped up the Friday higher, but ended the week with modest losses of 0.12%, settling at $1,295.20. The yellow metal reached more than $1,300 an ounce on Wednesday following weakness in the US dollar ahead of the earnings season. This, however, reversed by Thursday, with gold prices sinking to a two-week low as upbeat economic data from China helped ease concerns over a slowdown in global growth, which in turn limited demand for haven metals. On Thursday, China said its consumer price index (CPI) in March rose 2.3% year-on-year —  just short of estimates but at the quickest pace since October 2018. Meanwhile, the producer price inflation (PPI) rose 0.4% on-year in March in line with expectations. And on Friday, China reported that its exports for the month of March rose sharply by 14.2% year over year, beating expectations, while imports witnessed an on-year decline of 7.6%, below estimates. The March trade surplus was $32.64 billion. Meanwhile, the same data helped lift industrial metals like copper, as traders deemed the data indicative of increased demand from China. Copper closed Friday’s session at $2.95 per pound, up 1.82% for the week.

In agriculture commodities, grains ended the week lower: corn fell 0.35% in the week and settled at $3.61 per bushel in Friday’s session; wheat slipped 0.69% and settled at $4.65 per bushel at the end of Friday’s session; and soybeans declined 0.39% for the week, and closed Friday at $8.95 per bushel. Other commodities were also in the negative: sugar had a weekly decline of 0.16% and settled at a price of $1.28 per pound on Friday; coffee was around $0.90 per pound at Friday’s close, down 3.17% for the week; and cocoa was down 0.04% for the week and closed Friday’s session at $2,407 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was up 0.06% for the week, compared with the prior week’s rise of 1.35%.

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER 

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

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Weekly Commodities ETF Report: Crude Logs Gains on Lower Output From Saudi Arabia, Venezuela; Gold Logs Losses Following Strong March Jobs Data

(MT Newswires) – Crude ended Friday’s session higher, as oil production cuts by Saudi Arabia and declines in Venezuelan output have worn away the balance in surplus that was posted in the fourth quarter of last year. Back home, stockpiles of commercial crude in the US posted a bigger jump than expected last week, growing for a second straight week and coming in line with the five-year average for this time of year, government data showed on Wednesday. Inventories, an indicator of crude production in the world’s biggest economy, rose by 7.2 million barrels in the week through March 29, to 449.5 million barrels, data from the Energy Information Administration showed. A week earlier, the stockpiles increased by 2.8 million barrels. The advance was greater than reports late Tuesday that showed the American Petroleum Institute was expecting an increase of 3 million barrels in the stockpiles. Finally, energy services firm Baker Hughes (BHGE) reported Friday that the average US rig count for March was 1,023, down 26 from the 1,049 counted in February, but up 34 from the 989 counted in March 2018.

Light, sweet crude oil for May delivery rose 5.15% for the week, settling at $63.08 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 4.88% for the week, settling at $1.97 per gallon on Friday. Natural gas fell 0.11% this week at $2.66 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 1.62% higher this week, compared with a decline of 0.55% in the previous week.

Gold wrapped up the Friday session with gains, settling at $1,295.60 but closed the week down 0.1%.  Gold trended lower as equities turned positive, especially following the March employment report, which came in better than expected at 196,000 jobs, rebounding from 33,000 in the prior month. The total was above the 170,000 estimate pegged by Econoday. The jobless rate was unchanged at 3.8%, near a 50-year low. But fears of a global economic slowdown, as well as geopolitical events, like the UK’s attempts to exit from the European Union, have kept gold’s losses in check. Meanwhile, copper closed Friday’s session at $2.89 per pound, down 1.43% for the week, as reservations over the US-China trade deal remained, despite upbeat progress in negotiations between the two countries. Media reported that, before a meeting with Chinese Vice Premier Liu He, US President Donald Trump said a number of tough issues holding back a US-China trade deal had been resolved but differences remain. “Within the next four weeks or maybe less, maybe more, whatever it takes, something very monumental could be announced,” Trump was cited as saying.  Meanwhile, copper closed Friday’s session down at $2.89 per pound, falling 1.47% on the week.

In agriculture commodities, grains ended the week lower: corn rose 1.47% in the week and settled at $3.63 per bushel in Friday’s session; wheat climbed 1.85% and settled at $4.68 per bushel at the end of Friday’s session; and soybeans were up 1.67% for the week, and closed Friday in the red at $8.99 per bushel. Other commodities were mixed: sugar had a weekly increase of 1.76% and settled at a price of $1.28 per pound on Friday; coffee was around $0.93 per pound at Friday’s close, down 0.95% for the week; and cocoa was up 5.83% for the week and closed Friday’s session at $2,413 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was up 1.35% for the week, compared with the prior week’s decline of 1.83%.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

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Weekly Commodities ETF Report: Crude Ends Week Higher as Pressure on Supplies Continues; Grains Lower as Traders Digest USDA Reports

(MT Newswires) – Crude oil ended Friday’s session higher, as supply issues continued to help boost prices. US sanctions against Iran and Venezuela have put pressure on global supplies, amid signs that Russia is chafing against the pact it made with the Organization for the Petroleum Exporting Countries (OPEC) to cut global output by around 1.2 million barrels per day. Saudi Arabia, one of the leading member countries of OPEC, is said to be in the process of convincing Russia to remain with the pact. OPEC cancelled a meeting planned for April, which means that the organization’s supply cuts will last through at least June when the next meeting is scheduled. Meanwhile, US President Donald Trump has once again taken to Twitter to demand an increase in production from OPEC to keep prices lower. Back home, the Energy Information Administration reported that US stockpiles grew by 2.8 million barrels to 442.3 million barrels during the seven days ended March 22. The Street had been expecting a decrease of 1.0 million barrels. Late Tuesday, the American Petroleum Institute said that crude inventories climbed by 1.9 million barrels last week, according to reports. Finally, energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US fell by eight to 816 in the week, edging closer to the lowest level since last April.

Light, sweet crude oil for May delivery rose 2.00% for the week, settling at $60.14 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 0.27% for the week, settling at $1.88 per gallon on Friday. Natural gas fell 3.61% this week at $2.66 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 0.55% lower this week, compared with an increase of 0.20% in the previous week.

Gold wrapped up the Friday session with gains but failed to cement its grip on the $1,300 mark, instead settling at $1,298.50; for the week, the yellow metal fell 1.73%. Gold has recently benefitted from its safe-haven status amid worries over a slowdown in global economic growth. Lower bond yields have also pushed gold higher, but pressure on the bond markets has eased somewhat following positive developments in the US-China trade talks. The US 10-year bond yields rose to 2.42% intraday, rebounding from their lowest level in 16 months on Wednesday, after Treasury Secretary Steven Mnuchin wrote in a Twitter message: “US Trade Representative and I concluded constructive trade talks in Beijing. I look forward to welcoming China’s Vice Premier Liu He to continue these important discussions in Washington next week.” Trade optimism also helped the equity market tide over downbeat data from the US Commerce Department, as the increase in US consumer spending in January missed expectations a day after it emerged that the pace of economic growth slowed in the fourth quarter. Data released on Friday also show incomes rose modestly in February, while savings dropped to $1.19 trillion last month from $1.22 trillion in January. Also benefitting from the upbeat trade news are industrial metals such as copper, which closed Friday’s session at $2.94 per pound, rising 2.91% for the week.

In agriculture commodities, grains ended the week lower following the release of the US Department of Agriculture’s report on Grain Stocks, as well as its report on Prospective Plantings: corn fell 5.81% in the week and settled at $3.57 per bushel in Friday’s session; wheat slipped 1.24% and settled at $4.58 per bushel at the end of Friday’s session; and soybeans were down 2.24% for the week, and closed Friday in the red at $8.84 per bushel.

According to the USDA Grain Stocks report for March 2019, corn stocks were down 3%; soybean stocks were up 29%, and all wheat stocks were up 6%. Meanwhile, the Prospective Plantings report showed that corn planted acreage for 2018 was down 2% year over year; soybean acreage was down 1%; and all wheat acreage was up 3%.

Other commodities were mixed: sugar had a weekly decline of 0.48% and settled at a price of $1.25 per pound on Friday; coffee was around $0.95 per pound at Friday’s close, up 0.53% for the week; and cocoa was up 5.88% for the week and closed Friday’s session at $2,280 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was down 1.83% for the week, compared with the prior week’s increase of 0.94%.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Get Live Briefs Pro on Your Platform

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Weekly Commodities ETF Report: Crude Ends Week Higher as Global Growth Fears Undermine Demand for Oil Amid Supply Concerns; Gold Higher on Weak Economic Data From US, Eurozone

(MT Newswires) – Crude prices ended Friday’s session lower on concerns that the global economy is slowing, undermining the case for growth in demand for oil, but over the last five days prices rose, as supply fundamentals improved recently from concerted producer action as well as involuntary output cuts in Iran and Venezuela. The collapse of the Iran nuclear accord last year and placing of US sanctions on Tehran in November had mostly prevented a bulk of the country’s oil from reaching international markets. Meanwhile, Venezuela’s largest crude exporter had also been slapped with US sanctions amid the political crisis in the country, further reducing global crude supplies. Back home, the Energy Information Administration reported that US stockpiles slumped by a surprise 9.6 million barrels over the past week, underpinning the recent strength in prices from producer action. This also compares with the American Petroleum Institute’s report that US crude inventories had a draw of 2.133 million barrels. Finally, energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US dropped to the lowest level in 11 months. The tally, an indicator of future production levels, sank by 11, the fifth-straight weekly decrease, to 824 through Friday. The US gas-rig count slipped by one to 192, bringing the country’s total decline in the week to 1,016 rigs from 1,026 a week earlier.

Light, sweet crude oil for May delivery rose 0.17% for the week, settling at $59.04 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 2.48% during the week, settling at $1.89 per gallon on Friday. Natural gas for May delivery fell 0.86% this week at $2.77 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 0.20% higher this week, compared with an increase of 0.74% in the previous week.

Gold wrapped up the Friday session with slight gains, settling at $1,312.30; for the week, it rose 0.84%, after the spread between three-month US treasury bills and 10-year note yields inverted for the first time since 2007, a year before the global financial crisis began with the collapse of Lehman Brothers in 2008. The inversion in the yield curve coincided with twin reports from IHS Markit that showed a decline in the purchasing managers’ index for US manufacturing to the lowest level since June 2017. The same gauge for the Eurozone slipped, declining more than the market expected, exacerbating fears of a fall in demand for a slowdown in the growth of the global economy. These downbeat economic reports came just a day after the US Federal Reserve Chairman Jerome Powell dialed back expectations of interest rate hikes, signaling no increases at all in 2019 and referencing to the disconnect between wage growth and inflation, which is currently at a considerable distance from the Fed’s 2% target.

On the other hand, copper closed Friday’s session at $2.84 per pound and sank 2.08% for the week, tracking the base metals sector lower on the renewed strength of the US dollar. The greenback benefitted from weakness in the pound sterling as the UK struggled with its exit from the European Union. Legislators have not approved Prime Minister Theresa May’s Brexit deal so far, but EU leaders have offered to delay the Brexit withdrawal date until May 22 if the deal could be approved. A delay until April 12 has also been proposed if there is another failure to pass. Meanwhile, an online petition calling for the country to remain in the EU has reached some 3.5 million signatures.

In agriculture commodities, grains ended the week mostly higher: corn rose 1.54% in the week and settled at $3.78 per bushel in Friday’s session; wheat rose 1.03% and settled at $4.66 per bushel at the end of Friday’s session; and soybeans was down 0.55% for the week, and closed Friday in the red at $9.04 per bushel. Corn ended Friday’s session near one-month highs as flash flooding in a major North American producing region exacerbated fears that crop planting would be further delayed.

Other commodities were mixed: sugar had a weekly decline of 0.56% and settled at a price of $1.26 per pound on Friday; coffee was around $0.94 per pound at Friday’s close, down 3.89% for the week; and cocoa was down 1.73% for the week and closed Friday’s session at $2,159 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was up 0.94% for the week, compared with the prior week’s decline of 2.19%.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHNor CPER

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Get Live Briefs Pro

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Weekly Commodities ETF Report: Crude Ends Week Higher as OPEC Keeps Output Cuts; Gold Rises as Investors Rush to Safe Haven Following Mass Shooting in New Zealand

(MT Newswires) – Crude prices ended Friday’s session lower following four days of consecutive gains, but ultimately closed the week in positive territory as global crude supplies appear to be tightening. Earlier in the week, Saudi Energy Minister Khalid al-Falih pledged that the Organization of the Petroleum Exporting Countries (OPEC) and allies would keep output cuts in place through June. Looking ahead, the OPEC and non-OPEC Joint Ministerial Monitoring Committee will gather in Baku, Azerbaijan over the weekend, with an official meeting set for Monday to review how much members and ally countries have been complying with production cuts. Back home, the Energy Information Administration’s weekly report showed that US crude stockpiles fell by 3.9 million barrels, at odds with expectations for a build of 2.5 million barrels. This also compares with the American Petroleum Institute’s report that US crude oil stocks showed a draw of 2.6 million barrels. Finally, energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US fell by 1 to 833, the lowest level since April 27, 2018. The count has also fallen by 20 in the past three weeks. The combined oil and gas rig count in the US also slipped by 1 to 1,026 as gas rigs were flat 193.

Light, sweet crude oil for April delivery rose 4.25% for the week, settling at $58.52 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 2.72% during the week, settling at $1.86 per gallon on Friday. Natural gas fell 2.47% this week and closed down Friday at $2.80 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 0.74% higher this week, compared with a decline of 0.93% in the previous week.

Gold wrapped up the Friday session higher, settling at $1,302.90; for the week, it rose 0.23%. A weaker dollar, as well as geopolitical concerns over Brexit uncertainty and news of a mass shooting at two mosques in New Zealand, which resulted in 49 deaths and several injuries, have driven traders into safe- haven assets like gold. Renewed optimism for a US-China trade deal has also boosted the yellow metal, following a report from China’s official news agency saying the Chinese government and Trump administration have made progress in trade talks. On the other hand, copper closed Friday’s session at $2.91 per pound, edging 0.29% higher for the week. The red metal recovered from weakness earlier in the week, following news that industrial output in China fell to a 17-year low in the first two months of 2019.

In agriculture commodities, grains ended the week higher: corn rose 2.40% in the week and settled at $3.73 per bushel in Friday’s session; wheat rose 4.96% and settled at $4.62 per bushel at the end of Friday’s session; and soybeans were up 1.59% for the week, and closed Friday in positive territory at $9.09 per bushel. Corn ended the week with its largest gains since early January, with prices rising because of concerns for planting delays. The cold soil and muddy fields could impede the crop’s planting, while the weather could also hinder farmers’ efforts to fertilize their cornfields. Meanwhile, wheat saw its biggest weekly gain in more than three months, mostly due to short-covering.

Other commodities were mixed: sugar had a weekly increase of 3.20% and settled at a price of $1.25 per pound on Friday; coffee was around $0.98 per pound at Friday’s close, down 0.91% for the week; and cocoa inched 0.27% higher for the week and closed Friday’s session at $2,197 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was down 2.19% for the week, widening from the prior week’s decline of 0.94%.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Get Live Briefs Pro

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Weekly Commodities ETF Report: Crude Ends Week Lower on Demand Concerns Following China Manufacturing Data; Gold Sinks Below $1,300 as Strong US Q4 GDP Buoys Stocks

(MT Newswires) – Crude prices ended Friday’s session lower, as a downbeat picture of China’s economy raised demand concerns for the world’s top oil importer. China manufacturing activity fell to a three-year low in February as export orders dipped with the official Purchasing Managers’ Index (PMI) down to 49.2 in February from 49.5 in January. Some analysts attributed the weak data to the week-long Lunar New Year holidays in February when firms scale back operations or close for long periods. But others say the lingering US-China trade war is the culprit by diminishing overall economic activity in China. On the other hand, traders noted continued adherence by the Organization of the Petroleum Exporting Countries (OPEC) and allies to plans to curb production by 1.2 million bpd at least for the first six months of the year, with an April meeting set to review the pact. Meanwhile, the Energy Information Administration’s monthly report showed that US crude oil production edged lower in December to 11.85 million barrels per day (bpd), the first decline since last May. For the week, US crude stockpiles fell 8.6 million barrels, compared with an expected increase of 2.8 million barrels and breaking five straight weeks of builds. This also compares with the American Petroleum Institute’s report that crude inventories fell by 4.2 million barrels last week. Finally, energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US fell by 10 to 843, the lowest level since May 2018. The combined oil and gas rig count in the US slid by nine to 1,038 as gas rigs rose by one to 195.

Light, sweet crude oil for April delivery fell 2.30% for the week, settling at $55.80 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 1.81% during the week, settling at $1.73 per gallon on Friday. Natural gas for April delivery was up 4.63% on the week and closed Friday at $2.86 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 1.31% lower this week, compared with an increase of 1.21% in the previous week to its lowest level in a month and half.

Gold wrapped up the Friday session lower, settling below the key $1,300 mark at $1,299.20; for the week, it declined 2.85% — the sharpest weekly fall since August. Demand for the precious metal weakened as US and global stocks were buoyed by a stronger-than-expected reading on the US economy last Thursday. The US gross domestic product grew at a 2.6% annual pace in the fourth quarter. Forecasts were for the GDP to increase at a 1.9% growth rate. Prices rose briefly on Friday following lackluster US ISM manufacturing and consumer-sentiment readings but the gains proved to be short-lived. On the other hand, copper closed Friday’s session at $2.93 per pound, slipping 0.73% for the week. The red metal’s losses were weighed by the latest manufacturing data out of China; the February Caixin Manufacturing PMI showed an increase to 49.9, beating forecasts, but this was still below 50.0, indicating that factory activity in the largest copper-consuming nation remained in contraction. Scotiabank’s commodity economist, Rory Johnston, provided an outlook on copper, saying in a research note, “Copper supply deficits are forecast to persist over the next five years and prices need to rise further in order to incentivize sufficient new mine capacity.”  The average price for the metal is forecast at $3 a pound this year and $3.20 in 2020.  Johnston also said that prices may need to rise further as mines make necessary new investments in capacity and capital markets shy away from risky mining projects.

In agriculture commodities, grains ended the week mostly lower as the market awaited more concrete trade developments and the finalization of a US-China trade deal: corn fell 3.25% in the week and settled at $3.73 per bushel in Friday’s session; soybeans fell 1.38% for the week, but closed Friday in positive territory at $9.12 per bushel; and wheat sank 6.68% and settled at $4.57 per bushel at the end of Friday’s session. Wheat futures were near 11-month lows as concerns that North American wheat will be facing stiff global competition pushed prices lower. Other commodities were mixed: sugar had a weekly decline of 5.11% and settled at a price of $1.26 per pound on Friday; coffee was around $1.00 per pound at Friday’s close, up 0.30% for the week; and cocoa fell 2.84% lower for the week and closed Friday’s session at $2,217 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was down 1.34% for the week, compared with a decline of 0.21% in the prior week.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHNor CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

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Weekly Commodities ETF Report: Crude, Gold End Week Higher on Positive Developments in US-China Trade Talks

(MT Newswires) – Commodities were mostly firmer for the week, reflecting positive developments in the trade negotiations between the US and China. The trade dispute between the world’s two largest economies has weighed on commodities in the past several months, and most traders are optimistic that an agreement can be reached before March 1, although the deadline might be moved to give more time to hammer out details of an agreement. On Friday, President Donald Trump said a deal on currency has been reached after a meeting with China’s Vice Premier Liu He. The trade talks, which restarted early in January, will be extended for two more days. They have gained momentum in recent weeks but differences still remain over fundamental issues such as illicit technology transfers and improper subsidies for state-owned firms. Trump also said he expected to meet with China’s President Xi Jinping to finalize a trade deal.

Crude prices ended Friday’s session higher and the week in positive territory — the second week in a row as the progress in US-China trade outweighed supply concerns. The US became the first country in the world to pump out 12 million barrels of oil per day (bpd) last week, as reported by the Energy Information Administration (EIA). The increase in production undermines joint efforts of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers led by Russia to stabilize the market with cuts of 1.2 million bpd. The EIA data also show that US crude stockpiles surged by 3.7 million barrels over the week to Feb. 15 — that compares with expectations for a 3.1 million-barrel increase in a Reuters’ survey of analysts. The increase took the inventories to 454.5 million barrels, the highest level since October 2017. On the other hand, the American Petroleum Institute said US crude oil stocks rose by 1.3 million barrels to 448.5 million barrels in the week to Feb. 15. Energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US fell by four to 853, the lowest level since the period ending Feb. 1. The US gas rig count was unchanged at 194, bringing the country’s total for the period through Friday to 1,047. Meanwhile, a report from the Wall Street Journal said Venezuela’s oil inventories have also climbed to their highest levels in at least five years, citing satellite data, as US sanctions on the country’s biggest oil company Petroleos de Venezuela in January have hit exports.

Light, sweet crude oil for April delivery rose 1.74% for the week, settling at $57.26 per barrel at the end of Friday’s session. In other energy futures, gasoline rose 1.29% during the week, settling at $1.77 per gallon on Friday. Natural gas rose 2.56% this week at $2.74 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 1.21% higher this week, compared with an increase of 1.16% in the previous week.

Gold wrapped up the Friday session higher, settling at $1,332.80. Earlier in the week and before the release of the Federal Reserve’s January meeting minutes, gold had touched 10-month highs, but declined sharply on Thursday as the dollar gained strength after the Fed minutes hinted at a possible hike in interest rates sometime this year due to a fairly strong labor market and the overall strength in the economy. According to the minutes, many participants observed that if recent uncertainty eases, the Fed would need to reassess the characterization of monetary policy as “patient” and might then use different statement language.  However, the yellow metal returned to positive territory to end the week up 0.43%, bolstered by upbeat sentiment on the US-China trade talks. Also benefitting from this optimism, copper closed Friday’s session at $2.95 per pound, rising 4.50% higher for the week. Chile, the world’s largest exporter of copper, had an upbeat forecast for the red metal should the trade dispute between the US and China end. The Chilean government said it sees an average price of $3.05/lb for the year, up from $2.96/lb in 2018.

In agriculture commodities, grains ended the week mostly higher: corn edged 0.52% higher in the week and settled at $3.85 per bushel in Friday’s session; wheat dropped 3.11% lower and settled at $4.92 per bushel at the end of Friday’s session; and soybeans rose 0.19% for the week, but closed Friday in negative territory at $9.24 per bushel. The USDA released its initial commodity outlooks for the year at the 2019 Agricultural Outlook Forum in Arlington, Va. The US corn outlook for 2019/20 is for increased production, up 3% from 2018; exports are up 25 million bushels, reflecting expectations of modest growth in global trade and a slight decline in US market share with competition from other exporters. For wheat, the 2019/20 outlook is for reduced supplies, minimally lower use and decreased ending stocks. Production is expected to be 1.902 million bushels, 1% higher than 2018/19. Competition from Australia and the European Union is expected to increase. And for soybeans, the 2019/20 outlook is for record supplies, higher crush and exports and lower ending stocks. Production is expected to be 4.2 billion bushels, 8% below 2018.  US exports for soybeans are expected to recover despite continued import duties in China.

Other commodities were mixed: sugar had a weekly increase of 2.08% and settled at a price of $0.13 per pound on Friday; coffee was around $1.00 per pound at Friday’s close, down 1.62% for the week; and cocoa fell 2.18% lower for the week and closed Friday’s session at $2,288 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was down 0.21% for the week, compared with an increase of 0.50% in the prior week.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHNor CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

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Weekly Commodities ETF Report: Crude Hits Highest Level So Far in 2019 on OPEC-Led Production Cuts; Gold Rises on Progress in US-China Trade Talks

(MT Newswires) – Crude prices ended Friday’s session higher and the week in positive territory, briefly hitting 2019 highs above $65 per barrel earlier in the week, helped by supply cuts led by The Organization of the Petroleum Exporting Countries (OPEC) and the announcement of an even deeper cut by Saudi Arabia. OPEC cut nearly 800,000 barrels of output per day in January, just short of its goal of cutting 812,000 bpd, in a bid to tighten the oil market. Top exporter and de facto OPEC leader Saudi Arabia said earlier in the week that it plans to produce around 9.8 million barrels per day of oil in March, over half a million bpd below its pledged production level. Oil prices also remained supported by the partial closure of Saudi Arabia’s Safaniya offshore oil fields, which affected production capacity of more than 1 million barrels per day (bpd). Neither the cause of the outage or the expected duration were immediately known, according to reports. There is also concern of a demand slowdown ahead of normal spring refinery maintenance. Energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US rose by three to 857. The combined oil and gas rig count in the US climbed by two to 1,051 as gas rigs fell by one to 194. Earlier in the week, the Energy Information Administration said crude inventories rose by 3.6 million from the previous week to reach 450.8 million barrels. That’s about 6% above the five-year average for this time of the year. On the other hand, the American Petroleum Institute said the weekly crude inventories were down 998,000 barrels.

Light, sweet crude oil for March delivery rose 5.73% for the week, settling at $55.59 per barrel at the end of Friday’s session. In other energy futures, gasoline rose 7.26% during the week and settling at $1.74 per gallon on Friday. Natural gas for April delivery rose 1.03% for the week at $2.66 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 1.16% higher for the week, compared with a decline of 0.34% in the previous week.

Gold wrapped up the Friday session higher, settling at $1,322.10 and ending the week up 0.49% as two days of US-Chinese trade talks concluded on a positive note. High-level talks between American and Chinese officials ended in Beijing and it remains unclear whether the two sides have made any progress in resolving the thorny issues. Gold prices also remain supported by uncertainties around Brexit and increasing political uncertainty in Europe after Spanish Prime Minister Pedro Sanchez called for a snap general election in April. The dollar fell on the back of weak US retail sales data released Wednesday, logging its worst showing since September 2009. The data fanned concerns of slowing economic momentum in the world’s largest economy and reinforced expectations that the Federal Reserve will not raise interest rates this year. Meanwhile, copper closed Friday’s session at $2.80 per pound, inching 0.20% higher for the week. The red metal also benefitted from optimism following progress in the US-China trade talks, but gains were tempered by reports that China’s factory-gate price growth fell below estimates. For the month of January, producer price inflation growth from the largest consumer of copper was at its weakest pace since early September. Nevertheless, the outlook on copper demand remains positive as China also reported that its copper import numbers were up sharply, with shipments of unwrought copper up 14% in January to 479,000 tonnes. Copper concentrate imports rose 17% year over year to 1.9 million tonnes.

In agriculture commodities, grains ended the week mostly lower, despite the developments in the US-China trade talks: corn edged 0.20% higher in the week and settled at $3.83 per bushel in Friday’s session; wheat dropped 2.74% lower and settled at $5.07 per bushel at the end of Friday’s session; and soybeans fell 0.94% for the week, but closed Friday in positive territory at $9.21 per bushel.  The US Department of Agriculture (USDA) reported that export sales showed net cancellations of US soybeans totaling 610,900 tonnes in the week ended Jan. 3. The agency is continuing to clear the backlog resulting from the recent US government shutdown. Other commodities were mixed: sugar had a weekly increase of 3.48% and settled at a price of $0.13 per pound on Friday; coffee was around $1.02 per pound at Friday’s close, down 4.26% for the week; and cocoa rose 4.65% higher for the week and closed Friday’s session at $2,339 per tonne. According to a Reuters survey of analysts and traders, cocoa prices are set to increase despite a slight global surplus. Forecasts were for cocoa to have a global surplus of 30,000 tonnes for the 2018/19 season — just above 2017/18 estimates of 22,000 tonnes, according to the International Cocoa Organization. Analysts and traders have cited these factors that could underpin cocoa prices: currency volatility due to Brexit and lower quality supplies of Cameroon cocoa, as well as uncertain weather and possible political turmoil in Ivory Coast, a top producer of cocoa.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was up 0.50% for the week, compared with a decrease of 1.09% in the prior week.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Get Live Briefs Pro

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Weekly Commodities ETF Report: Fears of Economic Slowdown, US-China Trade Talk Tensions Drive Most Commodities Lower

(MT Newswires) – Crude prices ended Friday’s session higher but ultimately ended the week in the red as concerns about a possible drop in energy demand due to a global economic slowdown and the ongoing US-China trade dispute continue to weigh on the commodity. Although prices have been moving up at times amid expectations the OPEC-led production cuts and US sanctions on Venezuela’s state-run oil company will tighten global crude supply, recent data showing higher crude output in the US held gains in check.  Energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US rose by seven to 854. The combined oil and gas rig count in the US climbed by four to 1,049 as gas rigs fell by three to 195. Earlier in the week, the Energy Information Administration said crude inventories increased by 1.26 million barrels last week, less than the 2.2 million-barrels gain expected. On the other hand, data from the American Petroleum Institute showed a build of 2.5 million barrels of US crude inventories last week.

Light, sweet crude oil for March delivery fell 4.77% for the week, settling at $52.72 per barrel at the end of Friday’s session. In other energy futures, gasoline rose during the week, up 0.76% and settling at $1.45 per gallon on Friday. Natural gas for March delivery slumped 4.50% this week at $2.58 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 0.34% lower this week, compared with an increase of 0.02% in the previous week.

Gold wrapped up the Friday session higher as global growth worries prompted traders to shun riskier investments like equities and seek the safe-haven asset, however the yellow metal ended the week slightly lower, down 0.32%, closing at $1,318.50. Meanwhile, these same concerns drove copper lower at Friday’s close, settling at $2.81 per pound, but the red metal ended the week up 1.43%. On Thursday, Germany reported an unexpected decline of 0.4% in its industrial output for December — the fourth consecutive monthly decrease. As well, the European Commission lowered its growth forecasts for Italy and Germany and the eurozone as a whole.  Meanwhile, the Bank of England said it sees its slowest economic growth in a decade and lowered its 2019 GDP growth forecast to 1.2% from 1.7%.

In agriculture commodities, grains ended the week lower: wheat dropped 1.24% lower and settled at $5.17 per bushel at the end of Friday’s session; corn slipped 1.06% in the week and settled at $3.74 per bushel in Friday’s session; and soybeans fell 0.11% for the week, but closed Friday in positive territory at $9.15 per bushel. It was the second weekly loss in a row for soybeans, even though the commodity started the week with modest gains. Prices for soybean futures rose on fears of a decline in crop yields from South American; however, those gains dissipated when Parana, the second largest producing state in Brazil, reported that crops had minimal damage from drought, and that the soybean harvest was ahead of the season. Separately, worries over the US-China trade deal resurfaced to weigh on commodities during the week after US President Donald Trump said there were no plans for a meeting with Chinese President Xi Jinping before the March 1 trade deal deadline.  Also, there have been reports that Trump will sign an executive order that would ban the use of Chinese-made wireless equipment in US networks — a move that aims to increase cyber security for the US but might exacerbate trade tensions.

Other soft commodities were mixed: sugar had a weekly increase of 1.03% and settled at a price of $0.13 per pound on Friday; coffee was around $1.03 per pound at Friday’s close, down 1.30% for the week; and cocoa inched 1.01% higher for the week and closed Friday’s session at $2,196 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was down 1.09% for the week, compared with a decrease of 0.52 in the prior week.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHNor CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Get Live Briefs Pro

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Weekly Commodities ETF Report: Sanctions on Venezuela, Tighter Production Boost Crude Prices; Gold, Soybeans Gain on Strong Economic Data, Progress in Trade Talks

(MT Newswires) – Crude prices ended Friday’s session higher as tighter US sanctions on Venezuela’s access to the global financial system and reduced exports by Saudi Arabia to the US combined for unexpected tightness in supplies for US refiners.  The Organization of the Petroleum Exporting Countries (OPEC) and its allies also appear to be making headway in plans to trim nearly 1.2 million barrels per day from the market in the first six months of the year. Reuters reported that crude oil production from OPEC dropped by a massive 890,000 bpd in January from the previous month. That marked the largest month-on-month drop since January 2017. Meanwhile, the US oil rig count, an indicator of crude output, fell by 15 in the week to 847, posting the steepest decline in three weeks, according to data from energy services firm Baker Hughes (BHGE). The North American total was down by three in the week to 1,288 — unchanged from a year ago.  Earlier in the week, the Energy Information Administration said that US stockpiles of commercial crude rose by 919,000 barrels to 445.9 million, much less than an expected increase of more than 3 million barrels but still 7% above the five-year average for this time of year. On the other hand, the American Petroleum Institute said US crude oil inventories rose 1.1 million barrels to 445.7 million last week, less than the expected increase of 3.2 million barrels in the weekly estimates.

Light, sweet crude oil for March delivery rose 3.27% for the week, settling at $55.26 per barrel at the end of Friday’s session. In other energy futures, gasoline jumped during the week, up 2.09% and settling at $1.44 per gallon on Friday. Natural gas for March delivery slumped 10.26% during the week, closing at $2.73 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 0.02% higher this week, compared with a decline of 0.06% in the previous week.

Gold wrapped up the Friday session slipping lower but ended the week up 1.05%, closing at $1,322.10. At one point during the week the yellow metal hit eight-month highs following the Federal Reserve’s decision to leave interest rates unchanged on Wednesday. The Fed also removed a sentence describing the risks to the economic outlook as “roughly balanced” with Fed Chair Jerome Powell saying “the case for raising rates has weakened somewhat.” With bond yields turning lower and the dollar staying somewhat subdued, the demand for the safe-haven yellow metal increased yet again. Strong US economic data also pushed gold to weekly gains, as fairly upbeat US jobs data and acceleration in manufacturing activity eased concerns about US economic growth. According to the data released by the Labor Department, nonfarm payroll employment surged by 304,000 jobs in January compared with economist estimates for an increase of about 165,000 jobs. A separate report from the Institute for Supply Management showed growth in the manufacturing sector unexpectedly reaccelerated in January after seeing a substantial slowdown in December. The ISM said its purchasing managers index climbed to 56.6 in January from a revised 54.3 in December, with a reading above 50 indicating growth in the manufacturing sector. Copper ended the week up 1.41% and settled at $2.77 per pound, but weak data out of China’s manufacturing sector has kept those gains in check. China’s manufacturing activity fell at the sharpest pace in nearly three years in January, due to declines in both new work and production, survey data from IHS Markit showed on Friday. The Caixin/Markit Manufacturing Purchasing Managers Index (PMI) for January fell a second straight month, reaching 48.3 – its worst reading since February 2016 – from 49.7 in December and well below the 49.5 level expected.

Agriculture commodities ended the week mixed: among grains, wheat edged 0.67% higher and settled at $5.24 per bushel at the end of Friday’s session; corn slipped 0.53% in the week and settled at $3.78 per bushel in Friday’s session; and soybeans fell 0.65% for the week, but closed Friday in positive territory at $9.17 per bushel. Friday’s gains were sparked by optimism that the US and China might reach a trade deal before the March 1 deadline. The two-day US-China trade talks ended without concrete results, but China had promised to “substantially” expand purchases of US soybeans. US President Donald Trump said he hopes to accommodate China and reach a deal by the March 1 deadline. He also said he would meet Xi Jinping soon to try to seal a comprehensive trade deal. Meanwhile, other commodities such as sugar had a weekly increase of 1.61% and settled at a price of $0.13 per pound on Friday; coffee was around $1.04 per pound at Friday’s close, down 2.90% for the week; and cocoa fell 2.29% for the week and closed Friday’s session at $2,168 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was down 0.52% for the week, compared with a decrease of 0.19% in the prior week.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

Get Live Briefs Pro