Silver was the Biggest Loser in September

In the commodity market, investors earned the most soybeans in September, while silver was the most losing.


Silver was the biggest loser in September

According to the data compiled by the AA correspondent from the price movements of 18 products traded in the commodity market, 6 of the commodity group vehicles gained while 12 lost in 9 months of the year.

With the increase in the number of Covid-19 cases, concerns about demand, the increase in the dollar index caused sales pressure across commodities, causing a depreciation in prices.

During the period in question, soybean earned the most with 7.3 percent to its investors. Soybean was followed by sugar with 6 percent, corn with 5.9 percent, wheat with 4.7 percent, palladium with 2.5 percent, and cotton with 1 percent.

Soybeans hit the highest level in nearly 2.5 years, rising as high as $ 10.46 last month. Soybeans thus hit over $ 10 for the first time since 2018.

Analysts stated that strong demand from China was the main factor in rising soybean prices.

The ongoing reaction purchases in sugar prices along with the recovery in oil prices caused an increase in prices. The news that sugar production will decrease in France was among the important factors that increased sugar prices.

Looking at corn prices, on the other hand, the decrease in global corn production estimates and demand expectations due to purchases from China caused an increase in corn prices.

Among the commodity group vehicles, silver was the biggest loss to its investors in September with 17.5 percent. Coffee with 14 percent silver, lead with 8.4 percent, Brent oil with 7.9 percent, nickel with 5.9 percent, zinc with 5.7 percent, gold with 4.2 percent, cocoa with 4.1 percent, Platinum with 4, natural gas with 3.9 percent, aluminum with 1.6 percent and copper with 1 percent followed.

While the increase in the dollar index affected commodity prices significantly last month, silver among the commodity group tools was one of the most affected.

Expectations of production surplus in the coffee market increased precipitation in Brazil and predictions of re-production surplus led to a decline in coffee prices.

Silver earned the most in 9 months of the year

In the January-September period, silver was the most earning investor with 30.1 percent. After silver, gold 24.2 percent, palladium 19 percent, natural gas 15.4 percent, copper 7.6 percent, soybean 7.1 percent, zinc 5.1 percent, nickel 3.8 percent, wheat 3.4 percent, cocoa While it saved 0.2 percent, there was no change in sugar compared to the new year.

In the said period, his investors lost Brent oil with 37 percent at most. Brent oil was coffee with 14.5 percent, platinum with 7.4 percent, lead with 5.7 percent, cotton with 4.7 percent, aluminum with 3 percent, and corn with 2.3 percent.

With Covid-19, economic uncertainties in the markets caused fluctuations in commodity prices on an annual basis. Global growth concerns, collateral deficit-driven sales, the appreciation of the dollar against other currencies, and the supply-demand balance were among the leading factors affecting agricultural commodity prices this year, while the economies started to return to normal and the supportive policies of the central banks positively affected the demand for the commodity.

Despite having bad performance in September, Silver continued to earn its investors in 9 months of the year.

Analysts stated that silver is seen as a safe haven throughout the year and the recent problems in silver supply are the most important factors supporting silver prices.

An ounce of gold continued to rise during this period, with the expansionary steps taken by the world's leading central banks in the face of Covid-19 and the concerns of the second wave in the epidemic throughout the year. The possible economic and social effects of the epidemic, the tension between the USA and China, and the troubled state of the US labor market were also factors supporting the ounce price of gold.

Responding to the AA correspondent's questions, Zafer Ergezen, a futures and commodity markets expert, stated that there has been an upward trend in soybean prices since June. Stating that several factors affect soybean prices, Ergezen said that the most important one is purchasing from China.

Stating that the USA is the world's largest soybean producer and China is the world's largest importer, Ergezen stated that the tension between these two countries has negatively affected soybean demand and prices for the past year.

Emphasizing that the phase agreement between the USA and China at the beginning of the year is a positive development, Ergezen said, "Recently, a slight moderate atmosphere between the two countries has caused a positive effect on soybean prices. coming out. " said.

Noting that China's soybean imports from the US reached record levels, Ergezen said, "China is expected to import around 100 million tons of soybeans in the new season. This means great demand."

La Nina effect is also felt in prices

Emphasizing that soybean is an intensely produced commodity in North and South America, Ergezen used the following statements:

"In previous years, we heard the El Nino effect a lot. Now the La Nina effect is being talked about. La Nina and El Nino are known as the two major natural ocean currents that have great effects on the world. In South America, it leads to a drier period. Considering that soybeans are mainly grown in North and South America, a decrease in production is expected due to dry weather. This leads to an upward trend in prices. "


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