CRB Commodity Index

The CRB Commodity Index bottomed at around 280 points, closing in on its lowest level since last February, as mounting fears of a demand-sapping global recession pushed down the commodity prices from early June highs. Agriculture commodities, which account for more than 40% of the index, are now well below their February peak as concerns about supply disruptions from the Black Sea region eased. Among energy, WTI crude futures were trading around $75 per barrel, close to levels not seen since December 2021. In the industrial sector, copper, considered an economic barometer, fell more than 20% to $3.8/Lbs from a record high of $5 touched on March 7th. However, there is still room for upside momentum in 2023. The Chinese economy's reopening is likely to boost demand, while prospects of supply disruption linked to climate change and continued conflict in Ukraine pose an upside price risk.

Historically, CRB Commodity Index reached an all time high of 470.17 in July of 2008. CRB Commodity Index - data, forecasts, historical chart - was last updated on January of 2023.

CRB Commodity Index is expected to trade at 292.99 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 309.93 in 12 months time.