The Reuters/Jefferies CRB Index is a global commodity benchmark tracking 19 commodities that are mostly U.S. traded. The index outperformed the S&P in the first months of the year, currently up 10.24% versus 3.16% in the broader market.
The recent commodity rally has been driven by weakness in the dollar and an underlying belief that the economy will improve, ultimately leading to increased demand and higher-priced commodities contracts.
As we approach the halfway mark of the year, several individual commodities have greatly outperformed the broader market year-to-date, affecting equities and indexes that are particularly exposed to fluctuating commodity prices. Investments in these “hot” commodities can be a gold mine – ironically, gold is not in the top 10 – but will they continue their streak?
We took a look at the commodities in the CRB Index, and calculated the ones with the best YTD performance based on the closing price on June 3, 2009. So, what have been the hottest commodities so far in 2009? Click ahead to find out!
By Yolaiki Gonzalez, Ariel Nelson & Paul Toscano
Posted 4 June 2009