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Weekly Commodities ETF Report: Crude Ends Week in the Red as 2020 Oil Demand Outlook Worsens; Gold Logs Best Week in Two Months as Equities Slump

(MT Newswires) – Crude ended Friday’s session higher, supported by expectations of more output cuts from the Organization of the Petroleum Exporting Countries (OPEC) and its allies. Russia had said that it extended an output reduction deal with OPEC, while Saudi Arabia, the de facto leader of the organization, plans to maintain its crude oil exports below 7 million barrels per day (bpd) in August and September. However, crude ultimately ended the week lower, weighed by the report from the International Energy Agency (IEA) that demand growth for oil was at its lowest since 2008. The worsening of the trade relationship between the US and China led the IEA to cut its estimates for oil demand growth in 2019 and 2020 by 0.1 million barrels per day (mb/d) to 1.1 mb/d and 1.3 mb/d, respectively. The IEA said its revised outlook takes into account the International Monetary Fund’s recent lowering of the economic outlook, while noting the health of the global economy had become “even more uncertain.”  Meanwhile, US inventories of the hydrocarbon commodity rose by 2.4 million barrels to 438.9 million barrels in the week ended Aug. 2, according to data published by the Energy Information Administration on Wednesday.  This was a surprise gain, as the American Petroleum Institute had forecast a drop of 3.4 million barrels on Tuesday. It also contrasted with an 8.5 million-barrel decline in US inventories of crude oil seen the week earlier. Finally, the number of oil rigs operating in the US fell by six to 764 during the week that ended Aug. 9, the lowest level since Feb. 2, 2018, according to data compiled by energy services firm Baker Hughes (BHGE). The combined oil and gas rig count in the US was down by eight to 942 as gas rigs fell by two to 169.

Light, sweet crude oil for September delivery fell 1.40% for the week, settling at $52.54 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 5.77% over the last five days and settled at $1.65 per gallon on Friday. Natural gas logged a decrease of 0.84% this week, ending Friday at $2.13 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.44% this week, compared with a decline of 2.64% in the prior week.

Gold finished Friday’s session slightly weaker but managed to stay at $1,509.50 — above the psychologically important level of $1,500.  It also closed the week 3.89% higher — at its best level since a 4.14% rise on June 21, according to FactSet data. The yellow metal began the week in positive territory, benefitting from its safe-haven status as US equities saw their worst day of the year on Monday, following the worsening of the Sino-US trade war, when the benchmark indexes declined some 3%. Meanwhile, copper prices ended the week up 0.97% but closed Friday lower at $2.61 per pound. This was a modest comeback from Monday, when the red metal slumped to the lowest level since June 2017. The protracted trade war between China and the US has dampened demand and pushed prices ever lower for copper — which some analysts consider a barometer of the global economy because it is used in home and commercial construction.

Agriculture commodities, particularly grains, were higher ahead of the US Department of Agriculture (USDA) monthly supply and demand report, which will be released Aug. 12. Soybeans logged mild gains despite being pressured by trade war woes.  Earlier this week, China said it will stop ordering US farm goods — including soybeans — due to the 10% tariff hike the US will impose on $300 billion of Chinese exports in September. The East Asian country also said it may place tariffs on American farm products. Meanwhile, worries about the condition of US corn has helped support prices for the grain, following news of unfavorable weather conditions, especially flooding in the spring. These have led to the late planting of the corn crop. Among grains, soybeans were up 2.64% for the week, and closed Friday in the green at $8.92 per bushel; corn for September delivery rose 1.89% in the week and settled at $4.18 per bushel in Friday’s session; and wheat jumped 1.83% and settled at $5.00 per bushel at the end of Friday’s session. Other commodities were lower: coffee was around $0.97 per pound at Friday’s close, down 0.97 for the week; cocoa was down 2.55% for the week and closed Friday’s session at $2,242 per tonne; and sugar had a weekly decline of 1.08% and settled at a price of $0.12 per pound on Friday.

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

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

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, 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.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

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.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002028 Ex. 9/30/2019

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Weekly Commodities ETF Report: Crude, Agri Commodities Slump as US-Sino Trade War Sparks Anew; Gold Climbs to Six-Year High on Safe Haven Appeal

Crude ended Friday’s session higher, regaining ground after seeing its biggest one-day decline in more than four years, but ultimately ended the week in the red amid worsening trade relations between the world’s two largest economies.  Earlier this week, crude prices were on the uptick; according to Action Economics, expectations for a Federal Reserve rate cut on Wednesday have supported prices, with hopes that extra stimulus will bump up economic activity, and therefore oil demand. However, the positive sentiment following the Federal Reserve’s 25 basis-point rate cut collapsed after US President Donald Trump said Thursday that he is putting 10% tariffs on an additional $300 million of Chinese imports. The move has further dampened the outlook for global growth and sent markets in Europe and Asia lower.

Meanwhile, US inventories of the hydrocarbon commodity fell by more than expected last week.  Stockpiles of crude oil contracted by 8.5 million barrels to 436.5 million barrels in the week ended July 26, according to data published by the Energy Information Administration. This was a larger decline than the American Petroleum Institute’s projection, released on Tuesday, for a weekly drop of 6 million barrels but it was lower than the 10.8 million barrel decline seen the prior week. Finally, the number of oil rigs operating in the US fell by six to 770 during the week that ended Aug. 2, the lowest level since Feb. 2, 2018, according to data compiled by energy services firm Baker Hughes (BHGE).

Light, sweet crude oil for September delivery fell 1.55% for the week, settling at $53.95 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 2.92% during the week and settled at $1.75 per gallon on Friday. Natural gas decreased 0.70% this week, ending Friday at $2.20 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 2.64% this week, compared with a decline of 0.51% in the prior week.

Gold finished Friday’s session higher at $1,432.40, hitting fresh six-year highs as the U.S. dollar weakened and investors looked for a safe haven from weaker stock markets and economic turmoil as the United States expanded its trade war on China. The gains come a day after sharp losses for the yellow metal, which had been weighed earlier in the week by the Fed’s widely expected interest rate cut. The yellow metal closed the week in positive territory, up 2.43%. Meanwhile, copper prices ended the week down 4.59% and closed Friday lower — hovering near its lowest price for the year so far at $2.67 per pound, as renewed trade tensions weighed on industrial metals. Supply issues also resurfaced, following a Reuters report that said Chile’s state-run Codelco will further delay the reactivation of its smelter until the end of October this year. Sources told Reuters that the world’s top copper producer has missed the previous reactivation target of April.

Agriculture commodities were once again in focus as the renewed US-Sino trade war centered on China’s purchase of US agricultural products. On Thursday, a day after the two countries’ trade talks ended in Shanghai, China’s Ministry of Commerce said some Chinese companies have already applied to lift additional tariffs on U.S. produce. The ministry noted that the Customs Tariff Commission of the State Council is handling the applications. MOC spokesperson Gao Feng also said that state-owned and private companies have commenced deals to buy products like soybeans, cotton, pork and sorghum. However, by late Thursday Trump announced the additional tariffs on $300 billion worth of Chinese goods, claiming that China had pledged to increase purchases of US agricultural products, but did not. He also alleged Beijing reneged on a promise to stop the sale of Fentanyl to the US.

Among other grains, soybeans were down 3.25% for the week, but closed Friday in the green at $8.69 per bushel; corn for September delivery fell 3.48% in the week and settled at $4.10 per bushel in Friday’s session; and wheat dropped 1.01% and settled at $4.91 per bushel at the end of Friday’s session. Other commodities were mostly lower: coffee was around $0.98 per pound at Friday’s close, down 1.35% for the week; cocoa was down 3.14% for the week and closed Friday’s session at $2,320 per tonne; and sugar had a weekly increase of 0.17% and settled at a price of $0.12 per pound on Friday.

 

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

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

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, 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.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

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.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002028 Ex. 9/30/2019

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Crude Closes Week Higher on Middle East Tensions, Supply Issues; Gold Ends Lower as ECB Maintains Benchmark Rates

(MT Newswires) – Crude ended Friday’s session higher amid ongoing tensions in the Middle East, which are threatening the free flow of oil in the region. Iran and the UK are embroiled in a tense standoff over British authorities’ seizure of an Iranian tanker off Gibraltar in early July and Iran’s detention of a UK-flagged ship last week. Supply issues also came to the fore after Hurricane Barry caused some temporary disruptions earlier in the month.  Analysts are pointing to the Gulf of Mexico storm as one of the primary reasons for a decline in US crude inventories. Stockpiles dropped 10.8 million barrels in the week through July 19 to 445 million barrels, according to data published by the Energy Information Administration. That was a sharper fall than the decline of 3.1 million barrels in the previous week and the 11.0-million-barrel weekly stock draw reportedly expected by the American Petroleum Institute. Finally, the number of oil rigs operating in the US fell by three over the week to 776, according to data compiled by energy services firm Baker Hughes (BHGE). The week’s tally was the lowest since the 765 rigs reported in the week ended Feb. 2, 2018.

Light, sweet crude oil for September delivery rose 0.75% for the week, settling at $56.02 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 1.40% during the week and settled at $1.83 per gallon on Friday. Natural gas logged a decrease of 4.35% on the week, ending Friday at $2.23 per 1 million British thermal units.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.51% this week, compared with a drop of 2.36% in the prior week.

Gold finished Friday’s session higher at $1,414.70, recovering from Thursday’s sharp losses, but closed the week in negative territory, down 0.66%. Friday’s gains were spurred by the advanced Q2 Gross Domestic Product (GDP) report, which showed that the US economy slowed sequentially in the quarter, validating the Federal Reserve’s recent view that economic stimulus may be required to “sustain” the country’s economic expansion. On Thursday, the yellow metal saw a steep decline after the European Central Bank (ECB) decided to maintain interest rates at their current levels. Expectations had been for the ECB to cut benchmark rates ahead of the US Federal Reserve’s policy meeting next week. Meanwhile, copper prices ended the week down 1.86% and closed Friday lower at $2.70 per pound, even as the resumption of US-China trade talks helped brighten the economic outlook in the base metal markets. China and the US confirmed a two-day face-to-face meeting on July 30 in Shanghai, the first meeting since the leaders of the two countries agreed to a trade war ceasefire. In the planned negotiations, the US side will be led by Robert Lighthizer and Treasury Secretary Steven Mnuchin, while Vice Premier Liu He will head the other.

In agriculture commodities, European Union (EU) imports of US soybeans increased by almost 100% from July 2018 to June 2019, compared with the same period the previous year. The US is now Europe’s leading soybeans supplier and has been able to expand its market further, following the decision by the European Community (EC) in January to authorize the use of US soybeans for biofuels.  Soybeans were down 2.18% for the week, and closed Friday in the red at $9.01 per bushel. Among other grains, corn for September delivery fell 2.92% in the week and settled at $4.25 per bushel in Friday’s session; and wheat dropped 1.49% and settled at $4.96 per bushel at the end of Friday’s session. Other commodities were mixed: coffee was around $1 per pound at Friday’s close, down  6.86% for the week; cocoa was down 3.32% for the week and closed Friday’s session at $2,389 per tonne; and sugar had a weekly increase of 3.63% and settled at a price of $0.12 per pound on Friday.

 

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

 

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

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:  USCIUSOUSLUSOUUSODBNOUNGUNL, UGAor 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.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

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.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002023 Ex. 9/30/2019

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Weekly Commodities ETF Report: Crude Ends Week Down Most Since May on Weakening Demand, Middle East Tensions; Gold Boosted by Renewed Hopes for Interest Rate Cut

(MT Newswires) – Crude ended Friday’s session lower, with prices recording their biggest weekly decline since the end of May amid falling demand for oil and mounting geopolitical risks in the Middle East. According to the BBC, the owners of Stena Impero, which was bound for Saudi Arabia, said they are unable to contact the vessel, which is now understood to be heading toward Iran. CNBC reported that a spokesperson for the UK Ministry of Defense said that the government was urgently seeking further information and assessing the situation following reports of an incident in the Gulf. This comes a day after the US Navy “destroyed” an Iranian drone in the Strait of Hormuz after it came within 1,000 yards of the US ship. Iran however, denied having lost a drone on Thursday. On the same day, several media sources reported that the International Energy Agency’s (IEA) executive director Fatih Birol said the agency was revising down the global oil demand forecast to 1.1 million barrels per day, from 1.2 million barrels per day. Birol warned that the agency may be forced to further cut its outlook for demand if the global economy, especially China, shows further signs of weakness, according to Reuters.

Meanwhile, US crude stockpiles decreased for the fifth consecutive week, with the draw coming in sharper than expected. Commercial crude oil inventories fell 3.1 million barrels in the week through July 12 to 455.9 million and are about 4% above the five-year average for this time of year, data published by the Energy Information Administration showed. That compares with a decline of 9.5 million barrels a week earlier and is more than the 1.4 million-barrel decline reportedly expected by the American Petroleum Institute. Finally, the number of oil rigs operating in the US fell by five to 779 during the week that ended July 19, according to data compiled by energy services firm Baker Hughes (BHGE). The combined oil and gas rig count in the US was down by four to 954 as gas rigs were up by two to 174, while miscellaneous were down by one.

Light, sweet crude oil for August delivery fell 7.09% for the week, settling at $55.30 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 6.28% during the week and settled at $1.83 per gallon on Friday. Natural gas logged a decrease of 8.30% on the week, ending Friday at $2.29 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 2.36% during the week, compared with an increase of 1.48% in the prior week.

Gold finished Friday’s session lower at $1,428.10 but ultimately closed the week in positive territory, up 0.62%. The yellow metal benefitted from the recent dovish comments from New York Fed President John Williams, which sparked hopes for an interest-rate cut by the end of July.  Williams said in a speech Thursday that central banks should “act quickly” to cut rates when inflation and interest rates are low, but an economy is faltering. A New York Fed spokesperson later said Williams’ remarks were academic, not practical in nature. Meanwhile, copper prices ended the week up 1.91% and closed Friday higher at $2.71 per pound, following a report from the World Bureau of Metal Statistics that said the copper market had a surplus of 21,000 tonnes in the January to May period.  Meanwhile, June customs data from China showed that imports of commodities such as copper declined month over month, hinting at a further softening of demand. China reported that imports of unwrought copper fell 9.7% in June from May, and ores and concentrates sank 20.4%. Copper is widely used in manufacturing, especially in China’s export sector.

In agriculture commodities, China’s statistics bureau in a Monday release said planting area for soybeans increased in the first half, with expectations for the area to widen 8% in 2019 to 8.67 million hectares from last year. The country has been encouraging farmers to plant more soybeans, with the Ministry of Agriculture setting a goal of expanding soybean planting area to 140 million mu (mu a common measurement used in China: 1 MU is equal to 6.0703 acres) by 2020. With the government’s calls for this increase in soybean production, as well as the trade war between the US and China, market watchers expect that soybean imports will decline further this year. Data from China’s customs authority showed that the country’s soybean imports during the first half of 2019 have already fallen 14.7% year over year to 38.27 million tons.

Among grains, corn for September delivery fell 5.05% in the week and settled at $4.36 per bushel in Friday’s session; wheat rose 3.77% and settled at $5.03 per bushel at the end of Friday’s session; and soybeans were down 1.32% for the week, and closed Friday in the red at $9.19 per bushel. Other commodities were mixed: coffee was around $1.07 per pound at Friday’s close, up 0.52% for the week; cocoa was down 1.00% for the week and closed Friday’s session at $2,467 per tonne; and sugar had a weekly decline of 5.85% and settled at a price of $1.16 per pound on Friday.

Copyright © 2019 MT Newswires, www.mtnewswires.com

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

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, 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 there under.

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.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

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.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002009 Ex. 9/30/2019

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Weekly Commodities ETF Report: Crude Ends Week Higher as Middle East Tensions Spark Anew; Gold Surges Higher on Hopes of Interest Rate Cut

(MT Newswires) – Crude ended Friday’s session higher and closed the week in positive territory; within the past five days, it also touched the highest level in six weeks. Prices had risen amid renewed geopolitical tensions in the Strait of Hormuz, following a report that the Royal Navy in the UK prevented an alleged attempt by Iran to seize a tanker near the Strait of Hormuz, off the southern coast of Iran. The risk of attack on tankers in the region is now deemed “critical.” To compound matters, Iran is threatening to further increase uranium production, after having breached a level that it had agreed to stay within under the now-defunct Iran Nuclear Accord. Oil prices also got a lift this week after producers and shippers trained their focus on the weather — given that the US hurricane season is getting underway — as a tropical storm threatened oil installations in the Gulf of Mexico. US inventory data was also supportive of oil prices this week. US inventories of crude oil plunged by 9.5 million barrels over a week to July 5, data published by the Energy Information Administration showed. This was steeper than the 3.1 million-barrel slump forecast in a Reuters’ survey of analysts and the 8.1 million-barrel drop projected by the American Petroleum Institute. Meanwhile, the International Energy Agency said in a report Friday that first-half oil supply exceeded demand by 0.9 million barrels per day. Its latest data showed a global surplus in Q2 of 0.5 million barrels per day, versus previous expectations of a deficit of the same level. Finally, energy services firm Baker Hughes (BHGE) said active US rigs drilling for oil fell by four this week to 784. A year ago, the count was 863. This week’s tally was the lowest since the 765 rigs reported in the week ended Feb. 2, 2018.

Light, sweet crude oil for August delivery rose 4.37% for the week, settling at $60.20 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 2.07% during the week and settled at $1.99 per gallon on Friday. Natural gas logged an increase of 2.42% this week, ending Friday at $2.42 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.48% this week, compared with a decline of 0.77% the prior week.

Gold finished Friday’s session higher at $1,406.70, ending the week up 1.07% and continued to be driven by monetary policy news. Federal Reserve Chair Jerome Powell’s testimony in front of Congress and the Senate during the week reaffirmed expectations for a rate cut at the end of the month. Powell gave the market no reason to expect anything less than a 25-basis-point rate cut at the July 30 – 31 meeting. He said the Federal Open Market Committee is concerned about trade tensions and slowing global growth, and that some “weak inflation will be even more persistent.” Meanwhile, industrial metals remained under pressure amid a lack of any supportive fundamentals, and copper prices logged losses throughout the week as the global growth outlook kept investors’ interest lackluster. In addition, the latest trade data out of China showed that the country’s exports declined 1.3% in June while imports showed a larger drop of 7.3%. Expectations had been for exports to fall 1.4% and imports to decline 4.6%, according to Bloomberg’s estimates. Analysts now expect that, following the downbeat trade data, demand for commodities will continue to be weak. However, the red metal managed to end the week 1.13% higher at $2.69 per pound.

The impact of the US-China trade war came to the fore this week after US President Donald Trump said in a tweet that China is letting the US down as the East Asian country is not fulfilling its promise of increasing its imports of agricultural products. According to a report on Bloomberg, Trump said that Chinese President Xi Jinping agreed to buy big volumes of US farm products after the two leaders reached a deal to restart the trade talks. Trump also agreed to the suspension of tariffs on an additional $300 billion of Chinese exports, the report noted. However, data released Thursday showed otherwise as US exports to China of soybeans decreased from the previous week to 127,000 metric tons, while pork orders went down to 79 tons from 10,400 tons in June. A spokesman for the Chinese Ministry of Commerce Gao Feng on Thursday did not confirm if China indeed agreed to buy US farm products as part of the two leaders’ agreement in the G20 summit in Osaka. An article on state-run Xinhua News Agency only mentioned that Trump hoped for China to boost its orders of US goods. In his tweet, Trump said he hopes China would begin buying US agriculture products.

Among grains, corn for December delivery rose 4.07% in the week and settled at $4.59 per bushel in Friday’s session; wheat rose 1.26% and settled at $5.23 per bushel at the end of Friday’s session; and soybeans were up 4.25% for the week, and closed Friday in the red at $9.32 per bushel. Other commodities were mixed: coffee was around $1.07 per pound at Friday’s close, down 3.57% for the week; cocoa was up 1.38% for the week and closed Friday’s session at $2,503 per tonne; and sugar had a weekly decline of 0.32% and settled at a price of $1.23 per pound on Friday.

 

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

 

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

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, 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.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

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.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002009 Ex. 9/30/2019

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Weekly Commodities ETF Report: Crude Ends Week Lower as US Inventory Decline Misses Estimates; Gold Also Slumps as Strong Jobs Data Props Up US Dollar

(MT Newswires) – Crude ended Friday’s session higher on geopolitical issues but closed the week slightly in the red. Prices had risen following reports that police and British marines seized a Syria-bound oil tanker off Gibraltar, amid suspicions it was operating in breach of EU sanctions. Iran had condemned the “illegal interception” and summoned the British ambassador in Tehran. Earlier in the week, 10 nations that were non-members of the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday agreed to follow the oil cartel’s lead and extend existing curbs on crude oil production by nine months in order to help prop up prices. Venezuelan oil minister Manuel Salvador Quevedo Fernandez made the announcement after a meeting in Vienna of the 14 OPEC countries and 10 other oil-producing nations. The current lower oil production level was agreed to in December and will now continue until the end of March 2020. The 14 OPEC countries meeting in Vienna already agreed on Monday to extend the cuts. A 24-nation expanded coalition, known as OPEC-Plus, has been following the cartel’s strategy. Meanwhile, US inventories of crude oil declined by 1.1 million barrels to 468.5 million barrels in the week ended June 27, data published by the Energy Information Administration showed. This was less than the 12.8 million barrel decline registered a week earlier and beneath than the five million-barrel drop projected by the American Petroleum Institute. Finally, energy services firm Baker Hughes (BHGE) came out with its oil-rig count report on Wednesday –earlier than usual due to the July 4 holiday. The company said active US rigs drilling for oil fell by five to 788 in the week — following two straight weeks of increases. The total active US rig count declined by four to 963. For the whole month of June, the number of oil rigs operating in the US fell to 969, from 986 in May and the 1,056 counted in June 2018.

Light, sweet crude oil for August delivery fell 1.01% for the week, settling at $57.34 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 1.91% during the week and settled at $1.92 per gallon on Friday. Natural gas logged an increase of 3.93% this week, ending Friday at $2.29 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.77% this week, compared with an increase of 0.32% the prior week.

Gold finished Friday’s session lower at $1,420.90, as Friday’s strong jobs data undermined prospects for the Federal Reserve to cut interest rates – thus sending bonds and the dollar higher. The government reported that nonfarm payrolls rose 224,000 in June against expectations for a 165,000 rise and the previous month’s 72,000 gain, revised from 75,000. The unemployment rate inched 10 basis points higher to 3.7% versus the no change expected by forecasters. Private payrolls rose 191,000 versus 149,000 estimated while manufacturing payrolls rose 17,000 versus 2,000 expected for the month, according to data compiled by Econoday. For the week, the yellow metal slipped 0.71% lower following two weeks of consecutive gains. Similarly, copper closed Friday’s session lower at $2.68 per pound, falling 2.06% for the week — it’s biggest weekly fall since May as the stronger dollar weighed on the commodities space. The slump could also be attributed to the lack of certainty over the US-China trade negotiations, as the current “trade ceasefire” between the two countries does not mean a firm deal could be finalized soon. The protracted trade row has dented the demand for metals over the past several months.

In agriculture commodities,  the US Department of Agriculture released its weekly export sales report, which showed that export sales for corn and wheat were on the lower end of analysts’ expectations, while soybean export sales, excluding China, were poor. Weekly export sales for soybeans were 867,600 metric tons, while corn export sales were 175,600 metric tons and wheat export sales were 276,500 metric tons. Among grains, corn for December delivery fell 1.83% in the week and settled at $4.42 per bushel in Friday’s session; wheat fell 5.40% and settled at $5.15 per bushel at the end of Friday’s session; and soybeans were up 0.65% for the week, and closed Friday in the red at $8.95 per bushel. Other commodities were mixed: coffee was around $1.11 per pound at Friday’s close, up 3.42% for the week; cocoa was up 0.45% for the week and closed Friday’s session at $2,463 per tonne; and sugar had a weekly decline of 3.44% and settled at a price of $1.24 per pound on Friday.

 

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

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

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:  USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, 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.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

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.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO002000 Ex. 9/30/2019

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Weekly Commodities ETF Report: Crude Ends the Week Higher Ahead of OPEC Meeting; Gold Benefits from Safe-Haven Status as Geopolitical Tensions Linger

(MT Newswires) – Crude ended Friday’s session lower, but closed the week in positive territory, finding support on expectations that the Organization of the Petroleum Exporting Countries (OPEC) will extend self-imposed production caps when it meets next week. On Monday, OPEC and its allies will congregate in Vienna, Austria, to discuss oil production levels. Heading into the meeting, it is still unclear whether the 14 OPEC countries and the 10 additional countries led by Russia will reduce their oil output even further, or whether they will simply prolong their current agreed limit that runs out at the end of June. Meanwhile, US inventories of crude oil declined by 12.8 million barrels to 469.6 million barrels in the week ended June 21, data published by the Energy Information Administration showed. This was greater than the 7.5-million-barrel decline projected by the American Petroleum Institute and more than quadruple the decline registered in the prior week. Finally, energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US rose to the highest level in a month this week, as higher prices for the key energy commodity saw more equipment come into operation. The US oil rig tally rose by four this week to 793, the most since the period ended May 31 and the second-straight weekly advance. A year ago, the count was 858.

Light, sweet crude oil for August delivery rose 0.73% for the week, settling at $59.43 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 3.80% during the week and settled at $1.91 per gallon on Friday. Natural gas logged an increase of 5.91% this week at $2.32 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 0.32% this week, compared with an increase of 1.98% the prior week.

Gold finished Friday’s session at $1,412.00, and closed the week with a gain of 0.77%. Lingering tensions between the US and Iran, US President Donald Trump’s earlier comments about the security relationship with Japan and his demand that India should withdraw “very high tariffs” on US goods have boosted appeal for safe-haven bullion. Gold, the traditional refuge in times of financial turmoil, has steadied just north of $1,400, up from the $1,300-and-change trading range of the last five years, but well below the $1,800 topped back in 2011.

In contrast, copper closed Friday’s session lower at $2.72 per pound, but rose 0.43% for the week. Despite the modest gains for the week, copper ended the quarter with its weakest performance since the end of 2015, weighed down by demand concerns that have stemmed from the protracted US-China trade war. The recent uptick in the red metal’s prices was caused partly by news of a collapsed mine in Congo, where at least 41 miners were killed. The KOV copper and cobalt open-pit mine is partly owned by Glencore, with its unit Katanga Mining having a 75% stake. Glencore said there was no impact on the mine’s output, however. Meanwhile, the workers’ strike at the Chuquicamata copper mine in Chile has ended after two weeks, as the three main labor unions voted to accept the contract offer of the mine owner, Codelco, which is also the largest copper producer in the world.

In agriculture commodities, the US Department of Agriculture (USDA) released its Planted Acreage report, which showed greater-than-expected corn acreage, while projecting far fewer soybean acres than estimates. The report projected planted acreage for corn at 91.7 million acres this year, versus estimates for 86.7 million acres of corn. Meanwhile, the USDA expects soybean acreage of 80.0 million — the lowest level since 2013. Analysts’ forecasts had been for 84.4 million acres.

Corn fell 2.59% in the week and settled at $4.32 per bushel in Friday’s session; wheat fell 0.89% and settled at $5.27 per bushel at the end of Friday’s session; and soybeans were up 2.19% for the week, and closed Friday up at $9.23 per bushel. Other commodities were mixed: coffee was around $1.09 per pound at Friday’s close, up 9.53% for the week; cocoa was down 2.64% for the week and closed Friday’s session at $2,425 per tonne; and sugar had a weekly increase of 0.88% and settled at a price of $1.26 per pound on Friday.

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

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

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:  USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, 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.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

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.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

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 Spikes Up as Middle East Tensions Linger; Gold Logs Best Weekly Gain in Three Years

(MT Newswires) – Crude ended Friday’s session higher, closing the week in positive territory. Prices started the week lower, following reports citing sources that staid future meetings of the Organization of the Petroleum Exporting Countries (OPEC) and decisions will be even more “fraught” amid conflict among members. However, prices surged by Thursday, when a US military drone in the Gulf region was downed, with the US and Saudi Arabia accusing Iran of the attack. US President Donald Trump reportedly ordered US airstrikes on Iran, but later called it off because he was told 150 people would die in the attacks, which he said would not be a “proportionate” response for the downing of an unmanned drone. Meanwhile, the Energy Information Administration reported Wednesday that crude inventories fell by 3.1 million barrels to 482.4 million barrels in the week ended June 14. This erased the prior week’s 2.2 million-barrel build and was also larger than the American Petroleum Institute’s forecast for an 812,000-barrel weekly decline. Finally, energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US rose this week, breaking a two-week streak of declines. The oil rig count rose by one to 789 through Friday. That’s down 73 rigs from the same period of 2018. Baker Hughes said the total US rig count was down by two in the week to 967, as gas rigs fell by four to 177. A year ago, the US had 181 gas rigs in operation, for a total of 1,052.

Light, sweet crude oil for August delivery surged 9.79% for the week, settling at $57.07 per barrel at the end of Friday’s session. In other energy futures, gasoline was up 5.00% during the week and settled at $1.79 per gallon on Friday. Natural gas fell 9.00% for the week but closed up Friday at $2.17 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.98% this week, compared with a decline of 0.42% the prior week.

Gold finished Friday’s session at $1,396.90 and closed the week with a gain of 4.27% — the best weekly gain in about three years. Prices for the yellow metal touched a six-year high in the early hours of the morning on Friday as the Federal Reserve’s signal that it is ready to “sustain” the economic expansion pushed US 10-year bond yields below the psychologically important 2% mark. The Federal Reserve said on Wednesday that “uncertainties” about its outlook — sustained expansion of economic activity, strong labor market conditions, and inflation near the 2% objective — have “increased.”

“In light of these uncertainties and muted inflation pressures, the committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion,” the central bank said in its statement. The Fed hasn’t lowered interest rates since 2008, the year of the global financial crisis. The probability of a cut in July is now placed at 100%, according to the CME FedWatch.

In contrast, copper closed Friday’s session lower at $2.71 per pound but rose 2.70% for the week. On Thursday, copper logged gains and touched three-week highs after the US Federal Reserve left interest rates unchanged, as expected. Supply concerns for the red metal also eased following reports that the strikes at the Chuquicamata copper mine could come to an end, as labor unions and Chile’s Codelco — the world’s top copper producer– set a schedule to discuss an improved contract offer.

In agriculture commodities, corn fell 2.15% in the week and settled at $4.42 per bushel in Friday’s session; wheat fell 1.62% and settled at $5.31 per bushel at the end of Friday’s session; and soybeans were up 0.70% for the week, and closed Friday in the red at $9.03 per bushel. On Thursday, a member of the American Soybean Association (ASA) testified to the House Financial Services Committee Subcommittee on National Security, International Development and Monetary Policy, on the impact to soybean farmers of the recent tariffs imposed on the crop. Missouri farmer Ronnie Russell said soybean farmers’ “finances are suffering” and that “stress from months of living with the consequences of tariffs is mounting.” He called for the removal of the China tariff, adding that the “loss of the China market cannot be fully replaced.”

“The 25% retaliatory tariff imposed last July has all but halted shipments to China, which up until last year was the largest export destination for US soybeans. In 2017, China purchased $14 billion worth of US soybeans. Now, the tariff has caused immediate and severe damage to the price of US soybeans, which fell from $10.89 to $8.68 per bushel last summer,” ASA said further.

Other commodities were mixed: coffee was around $1.01 per pound at Friday’s close, up 1.88% for the week; cocoa was up 0.20% for the week and closed Friday’s session at $2,502 per tonne; and sugar had a weekly decrease of 3.41% and settled at a price of $1.25 per pound on Friday.

 

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

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

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following: s USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, 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.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

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.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO001997 Ex. 9/30/2019

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Weekly Commodities ETF Report: Crude Sinks on IEA’s Lower Outlook for Demand Growth; Gold Hits 14-Month High Amid Geopolitical Tensions

(MT Newswires) – Crude ended Friday’s session lower, closing the week in the red after the International Energy Agency (IEA) projected slower-than-expected growth in demand in Q2, outweighing the impact on prices of attacks on two oil tankers in the Strait of Hormuz, a passage on the south coast of Iran through which almost a fifth global oil flows. The Paris-based IEA’s report put a ceiling on oil prices on Friday, as it said global demand growth was set to be lower by 100,000 barrels per day in Q2, compared with its previous forecast a month ago. It cited a warm winter in Japan, a slowdown in the petrochemicals industry in Europe and a worsening trade outlook across all regions as contributing factors to its expectations. Meanwhile, the Energy Information Administration reported Wednesday that US crude oil stockpiles rose unexpectedly for a second consecutive week. Crude stockpiles climbed by 2.2 million barrels – that compares with expectations for a 481,000-barrel drop in a Reuters’ survey of analysts. On the other hand, the American Petroleum Institute said Tuesday that crude oil levels climbed by 4.9 million barrels. Finally, energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US fell by one to 788 — the lowest level since Feb. 2, 2018. The combined oil and gas rig count in the US fell by six to 969 as gas rigs fell by five to 181.

Light, sweet crude oil for August delivery fell 2.81% for the week, settling at $52.28 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 0.38% for the week and settled at $1.72 per gallon on Friday. Natural gas rose 2.31% for the week, closing Friday at $2.33 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) fell 0.42% this week, compared with an increase of 1.35% the prior week.

Gold finished Friday’s session at $1,343.70, and earlier in the day reached its highest levels in 14 months. According to FactSet, prices hit the highest intraday and settlement levels since April 2018. Gold closed the week even. The yellow metal is getting a boost from its haven appeal, amid tensions in the Middle East and Hong Kong as well as rising expectations for a summer interest-rate cut from the Federal Reserve. The Federal Open Market Committee will be meeting next Tuesday and will release a policy decision Wednesday afternoon. Meanwhile, China has bought more gold to add to its international reserves as the country’s months-long trade disagreement with the US remained unresolved. According to Bloomberg, the People’s Bank of China, the central bank, raised its bullion reserves to 61.61 million ounces last month from 61.10 million ounces in April. Other central banks were also increasing their gold holdings, the report said.

In contrast, copper closed Friday’s session lower at $2.66 per pound, but inched 0.25% higher for the week as tepid industrial data from China weighed on the red metal. China’s industrial production rose 5% in May from a year earlier, while fixed income investment also rose at an annual rate of 5.6% last month, according to data released by the country’s National Bureau of Statistics. But both figures missed economists’ forecasts in a Reuters poll, which expected industrial production to grow 5.5% and fixed income investment to rise 6.1%. Meanwhile, concerns over supply risks have been raised as workers’ unions held a strike this week at Codelco’s Chuquicamata mine in Chile after a labor deal fell through. The Chuquicamata mine is the largest open pit copper mine in the world by excavated volume.

In agriculture commodities, corn rose 9.02% in the week and settled at $4.53 per bushel in Friday’s session; wheat jumped 7.15% and settled at $5.39 per bushel at the end of Friday’s session; and soybeans were up 4.88% for the week, and closed Friday in the green at $8.97 per bushel. Earlier this week, China’s General Administration of Customs reported that the country purchased 7.36 million tons of soybeans in May, down 24% on an annual basis and the lowest since 2015. The mainland, the biggest buyer of soybeans in the world, also saw soy imports in the five months ended May 31 decline 12.2% to 31.75 million tons. Meanwhile, Reuters reported that Chinese soybean buyers have asked American sellers to postpone soybean cargoes to be shipped in July to August. The report cited unnamed sources familiar with the matter. Reuters said that the renegotiations are sparking fears of cancellations, similar to ones that troubled the market last year. Six million tonnes of soybeans ordered by China have already been shipped, but about seven million tonnes more have yet to be delivered.

Other commodities were mixed: coffee was around $0.98 per pound at Friday’s close, down 2.58% for the week; cocoa was up 1.67% for the week and closed Friday’s session at $2,496 per tonne; and sugar had a weekly increase of 3.36% and settled at a price of $1.29 per pound on Friday. Prakash Naiknavare, managing director of India’s National Federation of Cooperative Sugar Factories Ltd., said earlier this week that sugar output in India is expected to drop to a three-year low next season as record heat takes a toll on cane plants in many regions. Bloomberg quoted Naiknavare as saying that during the new season starting Oct. 1, the sugar output is likely to fall from 33 million tons this year. Sugar production in Maharashtra, the country’s second-biggest grower, is also likely to fall about 40% to 6.44 million tons in 2019-2020 from this year, the report added.

Copyright © 2019 MT Newswires, www.mtnewswires.com

 

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

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:  USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, 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.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index. 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.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO001995 Ex. 9/31/2019

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Weekly Commodities ETF Report: Crude Ends Week Higher on Increase in Inventories; Gold Surges as Disappointing May Jobs Data Spark Hopes for Interest Rate Cut

(MT Newswires) – Crude ended Friday’s session higher after a bigger-than-expected increase in US inventories, which wiped out the prior week’s decline. The Energy Information Administration reported Wednesday that stockpiles of crude oil rose by 6.8 million barrels to 483.3 million barrels in the week ended May 31. This compares with the American Petroleum Institute, meanwhile, which said Tuesday that crude inventories grew by 3.5 million barrels. Finally, energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US dropped by 11 to 789 in the week that ended June 7, the fewest in operation since Feb. 2, 2018. The combined oil and gas rig count in the US fell by nine to 975 as gas rigs rose by two to 186. Meanwhile, the US Treasury’s Office of Foreign Assets Control announced Friday fresh sanctions against Iran’s largest petrochemical company, Persian Gulf Petrochemical Industries company, for providing financial support to the engineering conglomerate of the Revolutionary Guard. The foreign assets watchdog also designated Persian Gulf Petrochemical’s 39 subsidiary petrochemical companies and foreign-based agents.

Light, sweet crude oil for July delivery gained 1.37% for the week, settling at $52.59 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 1.40% during the week and settled at $1.71 per gallon on Friday. Natural gas fell 5.03% for the week but closed up Friday at $2.32 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) rose 1.35% this week, compared with a decline of 1.95% the prior week.

Gold ended Friday’s session at $1,342.70, near its highest level in about five years. The yellow metal has ended in positive territory for eight consecutive sessions now, but this week’s gain of 2.67% was bolstered by weaker-than-expected US jobs growth in May, which also spurred declines in the dollar and US Treasury yields. In contrast, copper closed Friday’s session lower at $2.65 per pound, and fell 0.27% for the week — the eighth consecutive weekly decline amid worsening trade and signs that economic growth across the globe is slowing. Additionally, the disappointing US jobs data out Friday had weakened the demand outlook for metals. The US said May nonfarm payrolls increased 75,000 in May, down from the revised April figure of 263,000 and badly missing consensus for 180,000. The unemployment rate was steady at 3.6% versus the 3.7% expected.

In agriculture commodities, corn fell 2.75% in the week and settled at $4.16 per bushel in Friday’s session; wheat slipped 0.26% lower and settled at $5.05 per bushel at the end of Friday’s session; and soybeans was down 2.62% for the week, and closed Friday in the red at $8.56 per bushel. Earlier this week, Reuters reported that two Chinese state-owned companies — OFCO and Sinograin — will divert up to 7 million tonnes of soybeans bought from the US to state reserves. The amount to be stockpiled is what is remaining from the 14 million tonnes of soybeans that the two companies ordered in December 2018 from the US, the Tuesday report added. The beans are yet to be shipped. One of the sources reportedly said the move is Beijing’s preparation for “a long-drawn trade war.” Other commodities were mixed: sugar had a weekly increase of 3.48% and settled at a price of $1.25 per pound on Friday; coffee was around $1.01 per pound at Friday’s close, down 3.99% for the week; and cocoa was up 2.04% for the week and closed Friday’s session at $2,466 per tonne.

 

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

 

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

Justin Hillstrom is a registered representative of ALPS Distributors, Inc.

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:  USCIUSOUSLUSOUUSODBNOUNGUNL, UGA, 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.

The SummerHaven Dynamic Commodity Index Total ReturnSM (SDCITR) is an index designed to reflect the performance of a portfolio of 14 commodity futures. The index is reformulated each month from 27 possible futures contracts. The 14 selected contracts are equally weighted and represent six sectors: Energy (WTI crude oil, Brent crude oil, natural gas, heating oil, gasoil, RBOB gasoline), Precious Metals (gold, silver, platinum), Industrial Metals (aluminum, copper, lead, nickel, tin, zinc), Grains (corn, soybeans, soybean meal, soybean oil, wheat), Livestock (live cattle, feeder cattle, lean hogs) and Softs (coffee, cocoa, cotton and sugar). One Cannot invest directly in an index.

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.

We advise you to consider a fund’s objectives, strategies, risks, charges and expenses carefully before investing. The Prospectus contains this and other information. Download a copy of a fund’s Prospectus by clicking the following: SDCI. Please read any Prospectus carefully before investing

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc.

USO001994 Ex. 9/30/2019

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