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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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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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