Stay Connected!
ETF.com News Daily
ETF.com News Weekly
Sign up to ETF.com's newsletters.
U.S. Edition
Search Ticker
Contango Report: Copper

Contango Report: Copper's Red Flag

Share:
Energy
WTI
WTI
Current Annualized Cost
3.09%
Annualized Cost 1 Week Previous
5.00%
Historical 03/22 5YR Annualized Roll
10.48%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCWTI

CONTANGO WATCH: WTI continues last week’s trend, narrowing its contango almost 2 percent, while the five-year average historical roll cost for this date widened by a percent.

ROLL COSTS: It costs investors 3.09 percent annualized to roll front-month WTI contracts, down from a cost of 5.00 percent.

BOTTOM LINE: Contango to Backwardation

Brent
Brent
Current Annualized Cost
-4.23%
Annualized Cost 1 Week Previous
-5.66%
Historical 03/22 5YR Annualized Roll
5.87%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCBrent

CONTANGO WATCH: Brent reversed last week’s widening, narrowing its backwardation by 1.30 percent.

ROLL COSTS: Investors net 4.23 percent annualized to roll front-month Brent contracts, down from a net of 5.66 percent.

BOTTOM LINE: Backwardation

HH Natural Gas
HH
Current Annualized Cost
6.89%
Annualized Cost 1 Week Previous
11.54%
Historical 03/22 5YR Annualized Roll
29.48%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCHH

CONTANGO WATCH: Natural gas’ contango plunges as prices in the front contracts rise $0.01, falling 4.65 percent in the current roll and 8.30 percent in the five-year average historical roll cost for this date.

ROLL COSTS: It costs investors 6.89 percent annualized to roll front-month natural gas contracts, down from a cost of 11.54 percent.

BOTTOM LINE: Contango

NYH Heating Oil
Oil
Current Annualized Cost
44.44%
Annualized Cost 1 Week Previous
45.01%
Historical 03/22 5YR Annualized Roll
15.99%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCOil

CONTANGO WATCH: Heating oil’s steep contango continues to narrow in small increments, dropping 0.55 percent his past week.

ROLL COSTS: It costs investors 44.44 percent annualized to roll front-month heating oil contracts, down from a cost of 45.01 percent.

BOTTOM LINE: Steep Contango

RBOB Gasoline
Gas
Current Annualized Cost
-4.49%
Annualized Cost 1 Week Previous
-4.62%
Historical 03/22 5YR Annualized Roll
1.70%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCGas

CONTANGO WATCH: RBOB Gasoline continues its trend of slightly narrowing backwardation, dropping 0.13 percent this week as the five-year average historical roll cost for this date rises.

ROLL COSTS: Investors net 4.49 percent annualized to roll front-month RBOB gasoline contracts, down from a net of 4.62 percent.

BOTTOM LINE: Backwardation

Precious Metals
Gold
Gold
Current Annualized Cost
0.68%
Annualized Cost 1 Week Previous
0.75%
Historical 03/22 5YR Annualized Roll
0.86%
Contract Months:
Feb Apr Jun Aug Oct Dec
RCGold

CONTANGO WATCH: Gold continues to narrow its contango in the tiniest dribs and drabs since its rise to 0.80 percent two weeks ago.

ROLL COSTS: It costs investors 0.68 percent annualized to roll front-month gold contracts, down from a cost of 0.75 percent.

BOTTOM LINE: Mild Contango

Silver
Silver
Current Annualized Cost
1.26%
Annualized Cost 1 Week Previous
1.46%
Historical 03/22 5YR Annualized Roll
0.92%
Contract Months:
Jan Mar May Jul Sep Dec
RCSilver

CONTANGO WATCH: Silver fell by 0.20 percent this week, remaining in steady, if mild, contango across the one-year forward curve.

ROLL COSTS: It costs investors 1.26 percent annualized to roll front-month silver contracts, down from a cost of 1.46 percent.

BOTTOM LINE: Mild Contango

Platinum
Platin
Current Annualized Cost
0.99%
Annualized Cost 1 Week Previous
0.94%
Historical 03/22 5YR Annualized Roll
1.29%
Contract Months:
Jan Apr Jul Oct
RCPlatin

CONTANGO WATCH: Last week’s narrowing in platinum reversed this week, widening by 0.05 percent in the current roll cost and 0.11 percent in the five-year average historical roll cost for this date.

ROLL COSTS: It costs investors 0.99 percent annualized to roll front-month platinum contracts, up from a cost of 0.94 percent.

BOTTOM LINE: Mild Contango

Palladium
Pallad
Current Annualized Cost
2.42%
Annualized Cost 1 Week Previous
0.60%
Historical 03/22 5YR Annualized Roll
1.36%
Contract Months:
Mar Jun Sep Dec
RCPallad

CONTANGO WATCH: Palladium’s dramatic narrowing last week turned out to be a blip on the radar as the current roll cost tripled this week.

ROLL COSTS: It costs investors 2.42 percent annualized to roll front-month palladium contracts, up from a cost of 0.60 percent.

BOTTOM LINE: Contango

Industrial Metals
Copper
Copper
Current Annualized Cost
1.58%
Annualized Cost 1 Week Previous
1.25%
Historical 03/22 5YR Annualized Roll
1.09%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCCopper

CONTANGO WATCH: Copper has widened the gap between the current roll cost and the five-year average historical roll cost to almost 0.50 percent this week as the two figures moved in opposite direction.

ROLL COSTS: It costs investors 1.58 percent annualized to roll front-month copper contracts, up from a cost of 1.25 percent.

BOTTOM LINE: Mild Contango

Aluminum
Alum
Current Annualized Cost
9.08%
Annualized Cost 1 Week Previous
8.52%
Historical 03/22 5YR Annualized Roll
7.97%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCAlum

CONTANGO WATCH: Aluminum contango almost perfectly reversed last week’s drop, rising 0.56 percent.

ROLL COSTS: It costs investors 9.08 percent annualized to roll front-month aluminum contracts, up from a cost of 8.52 percent.

BOTTOM LINE: Contango

Zinc
Zinc
Current Annualized Cost
7.04%
Annualized Cost 1 Week Previous
7.71%
Historical 03/22 5YR Annualized Roll
5.64%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCZinc

CONTANGO WATCH: While remaining in steady contango across the one-year forward curve, zinc narrowed in both the current cost and the five-year average historical roll cost for this date by 0.67 percent and 0.43 percent, respectively.

ROLL COSTS: It costs investors 7.04 percent annualized to roll front-month zinc contracts, down from a cost of 7.71 percent.

BOTTOM LINE: Contango

Lead
Lead
Current Annualized Cost
4.65%
Annualized Cost 1 Week Previous
4.15%
Historical 03/22 5YR Annualized Roll
0.72%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCLead

CONTANGO WATCH: Lead widened its contango by 0.50 percent this week, while the five-year average historical roll cost for this date narrowed by 1.30 percent.

ROLL COSTS: It costs investors 4.65 percent annualized to roll front-month lead contracts, up from a cost of 4.15 percent.

BOTTOM LINE: Contango

Nickel
Nickel
Current Annualized Cost
1.66%
Annualized Cost 1 Week Previous
1.58%
Historical 03/22 5YR Annualized Roll
1.60%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCNickel

CONTANGO WATCH: Nickel’s current roll cost widened ever so slightly, while the five-year average historical roll cost for this date remained steady at 1.60 percent.

ROLL COSTS: It costs investors 1.66 percent annualized to roll front-month nickel contracts, up from a cost of 1.58 percent.

BOTTOM LINE: Mild Contango

Tin
Tin
Current Annualized Cost
0.79%
Annualized Cost 1 Week Previous
0.45%
Historical 03/22 5YR Annualized Roll
-1.68%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCTin

CONTANGO WATCH: The 0.25 percent drop last week in tin’s contango was short-lived, as the current roll cost widened by 0.35 percent this week.

ROLL COSTS: It costs investors 0.79 percent annualized to roll front-month tin contracts, up from a cost of 0.45 percent.

BOTTOM LINE: Mild Contango to Backwardation

Agricultural Commodities
Corn
Corn
Current Annualized Cost
-13.81%
Annualized Cost 1 Week Previous
-13.13%
Historical 03/22 5YR Annualized Roll
5.45%
Contract Months:
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
RCCorn

CONTANGO WATCH: Corn remains firmly in backwardation across the one-year forward curve, widening this week by almost 0.70 percent.

ROLL COSTS: Investors net 13.81 percent annualized to roll front-month corn contracts, up from a net of 13.13 percent.

BOTTOM LINE: Backwardation

Wheat
Wheat
Current Annualized Cost
-0.41%
Annualized Cost 1 Week Previous
0.21%
Historical 03/22 5YR Annualized Roll
14.48%
Contract Months:
Mar May Jul Sep Dec
RCWheat

CONTANGO WATCH: After weeks of narrowing, wheat finally dropped into backwardation this week.

ROLL COSTS: Investors net 0.41 percent annualized to roll front-month wheat contracts, up from a cost of 0.21 percent.

BOTTOM LINE: Mild backwardation

Soybeans
SoyB
Current Annualized Cost
-9.14%
Annualized Cost 1 Week Previous
-6.83%
Historical 03/22 5YR Annualized Roll
0.34%
Contract Months:
Jan Mar May Jul Aug Sep Nov
RCSoyB

CONTANGO WATCH: Soybeans’ brief narrowing last week was not to last, as the current cost moved 2.30 percent deeper into backwardation.

ROLL COSTS: Investors net 9.14 percent annualized to roll front-month soybeans contracts, up from a net of 6.83 percent.

BOTTOM LINE: Backwardation

Live Cattle
LiveC
Current Annualized Cost
-21.64%
Annualized Cost 1 Week Previous
-21.16%
Historical 03/22 5YR Annualized Roll
-14.09%
Contract Months:
Feb Apr Jun Aug Oct Dec
RCLiveC

CONTANGO WATCH: Live cattle’s current trend of widening backwardation continued this week, moving almost 0.50 deeper.

ROLL COSTS: Investors net 21.64 percent annualized to roll front-month live cattle contracts, up from a net of 21.16 percent.

BOTTOM LINE: Backwardation to Contango

Lean Hogs
LeanH
Current Annualized Cost
22.84%
Annualized Cost 1 Week Previous
2.39%
Historical 03/22 5YR Annualized Roll
17.99%
Contract Months:
Feb Apr May Jun Jul Aug Oct Dec
RCLeanH

CONTANGO WATCH: Last week’s drop in lean hogs was not to last, as the almost-20.75 percent plunge reverses this week, rising 20.45 percent.

ROLL COSTS: It costs investors 22.84 percent annualized to roll front-month lean hogs contracts, up from a cost of 2.39 percent.

BOTTOM LINE: Contango to Backwardation

Soft Commodities
Coffee C
Coffee
Current Annualized Cost
12.04%
Annualized Cost 1 Week Previous
12.03%
Historical 03/22 5YR Annualized Roll
9.13%
Contract Months:
Mar May Jul Sep Dec
RCCoffee

CONTANGO WATCH: Coffee’s steady contango widened by a mere 0.01 percent blip this week, as the five-year average historical roll for this date narrowed by an equally staggering 0.05 percent.

ROLL COSTS: It costs investors 12.04 percent annualized to roll front-month coffee contracts, up from a cost of 12.03 percent.

BOTTOM LINE: Contango

Cocoa
Cocoa
Current Annualized Cost
3.65%
Annualized Cost 1 Week Previous
4.69%
Historical 03/22 5YR Annualized Roll
3.15%
Contract Months:
Mar May Jul Sep Dec
RCCocoa

CONTANGO WATCH: Despite being steady across the one year-forward curve, cocoa narrowed its contango by almost a percent this week.

ROLL COSTS: It costs investors 3.65 percent annualized to roll front-month cocoa contracts, down from a cost of 4.69 percent.

BOTTOM LINE: Contango

Sugar #11
Sugar
Current Annualized Cost
0.33%
Annualized Cost 1 Week Previous
1.32%
Historical 03/22 5YR Annualized Roll
-9.25%
Contract Months:
Mar May Jul Oct
RCSugar

CONTANGO WATCH: Sugar’s current cost narrowed by a percent this week, as the five-year average historical roll cost for this date narrowed by 3.70 percent.

ROLL COSTS: Investors net 0.33 percent annualized to roll front-month sugar contracts, down from a cost of 1.32 percent

BOTTOM LINE: Mild Contango

Cotton #2
Cotton
Current Annualized Cost
6.24%
Annualized Cost 1 Week Previous
2.68%
Historical 03/22 5YR Annualized Roll
1.09%
Contract Months:
Mar May Jul Oct Dec
RCCotton

CONTANGO WATCH: Cotton widened its contango by 3.50 percent this week, as the five-year average historical roll cost for this date moved out of backwardation.

ROLL COSTS: It costs investors 6.24 percent annualized to roll front-month cotton contracts, up from a cost of 2.68 percent.

BOTTOM LINE: Contango

 

Discussion

Post a Comment
Comment:
Name:
E-mail:
Home page: (optional)
CAPTCHA Image Reload Different Image
Type in the
displayed
characters:
Email follow-up comments to my e-mail address SUBMIT

IndexUniverse is excited
to announce our new name: