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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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Weekly Commodities ETF Report: Crude Ends Week Lower as Tariffs on Mexican Imports Hurt Global Energy Demand; Gold Higher on Safe-Haven Sentiment

(MT Newswires) – Crude ended Friday’s session lower, heading for the second week of declines as US President Donald Trump’s threats to impose tariffs on Mexico, the largest recipient of US oil exports, added to concerns that a worsening trade environment would undermine global energy demand. Trump had tweeted that the US would impose a 5% tariff on all goods from Mexico — in a bid to curb the supposed high flow of illegal immigrants into the US from Mexico. Back home, the Energy Information Administration reported that inventories fell by 282,000 barrels over a week to May 24 – that compared with expectations for an 857,000-barrel drop in a Reuters’ survey of analysts. The American Petroleum Institute, which released crude supplies data a day later than usual due to the Memorial Day holiday, said the crude inventories fell by 5.3 million barrels. Finally, energy services firm Baker Hughes (BHGE) reported Friday that the number of oil rigs operating in the US rose by three in the week that ended on May 31 to 800. The combined oil and gas rig count in the US rose by one to 984 as gas rigs fell by two to 184.

Light, sweet crude oil for July delivery fell 8.47% for the week, settling at $56.59 per barrel at the end of Friday’s session. In other energy futures, gasoline was down 8.13% during the week and settled at $1.85 per gallon on Friday. Natural gas fell 4.69% for the week, settling at $2.55 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 1.95% lower this week.

Gold wrapped up the Friday session at $1,292.40 with a 7-week high; earlier in the session it breached the psychologically important $1,300.00 level after the US threat to impose tariffs on Mexican imports, even as it continued with its protracted trade war with China, sent traders scurrying for less riskier assets. Gold rose 2.13% in the last five days. Meanwhile, copper closed Friday’s session at $2.65 per pound, and fell 1.88% for the week even as speculators off-loaded their positions in industrial metals amid fears of a global recession. With the lower-than-expected manufacturing data from China reported Friday, investors are now concerned that the protracted trade war between the US and China has contributed to a slowdown in Asia’s biggest economy. China’s official manufacturing Purchasing Managers Index (PMI) fell to 49.4, down from 50.1 in April. Econoday estimates had been expecting a reading of 50.0.

In agriculture commodities, corn rose 9.55% in the week and settled at $4.27 per bushel in Friday’s session; wheat jumped 7.57% and settled at $5.03 per bushel at the end of Friday’s session; and soybeans was up 7.04% for the week, and closed Friday in the red at $8.78 per bushel. Earlier this week, Bloomberg reported that China said it is putting purchases of American soybeans on hold as the trade war between the two countries escalated. However, China did not cancel purchases that have already been made. The largest soybean buyer has yet to take delivery of about 7 million tons of US soybeans, which it had committed to buying for the current marketing year, the report added. Other commodities were mostly higher: sugar had a weekly increase of 3.78% and settled at a price of $1.21 per pound on Friday; coffee was around $1.05 per pound at Friday’s close, up 12.64% for the week; and cocoa was down 0.91% for the week and closed Friday’s session at $2,400 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was down 3.20% for the 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 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. 

Get Live Briefs Pro on Your Platform

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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. 

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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. 

Get Live Briefs Pro on Your Platform

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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. 

Get Live Briefs Pro

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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