Released August, 2016
The BCOM declined 1.8% in August, led by sharp declines in corn, soybeans and wheat. A recovery in energy prices was insufficient to offset declines in the other major sectors. Both wheat and corn ended August near decade lows. Energy was the holdout for the month as WTI crude oil held $40 a barrel support, ending the month in the middle of the $40/bbl. to $50/bbl. range. Profit taking and increased Federal Reserve tightening expectations were primary pressure factors on gold and silver after reaching two-year highs.
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