Last week, cotton gained the most value in the commodity market

While demand continued in the commodity market last week, on the other hand, profit sales were seen due to the rises seen in recent weeks. Analysts emphasized that there was a low volume course in the last week of the year due to the Christmas holiday. Cotton, which is described as the white gold of commodity investors, was the product that gained the most value, gaining 4.8 percent in the last week of 2021. Analysts stated that strong demand for cotton continues and that the decrease in production estimates and the increase in exports caused the prices of this product to rise.

Demand for palladium and platinum decreased

Last week, gold increased by 1.2 percent, silver increased by 1.7 percent, copper increased by 2%, lead increased by 0.7 percent, nickel increased by 3.3 percent, zinc increased by 1%, palladium increased by 2.2 percent, and platinum increased by 0.4 percent. A horizontal course was observed in aluminum. With the decline in the dollar index, the ounce price of gold increased. Due to the continued trend towards risky assets, despite the low volume in the markets at the end of the year, copper prices also rose. Analysts stated that uncertainties regarding global automotive production continue and that the demand for palladium and platinum has decreased.

Energy commodities rose

On the energy side, increases were also seen last week. Brent oil increased by 1.4 percent, while natural gas increased by 1.2 percent. The positive expectations in the markets were effective in the rise of Brent oil, as was the UK's announcement that it would not impose restrictions in the short term within the scope of the fight against the Covid-19 pandemic. Analysts also reported that the decline in oil stocks in the USA, the world's largest oil consumer, supported the price of Brent oil upwards, with the perception that demand in the country continued its recovery trend despite the Covid-19 outbreak. Natural gas prices also increased with the expectation that the weather would get colder. Continuing concerns about natural gas supply in Europe also supported natural gas prices.

A sales trend was observed on the agricultural side

In agricultural commodities, a trend with sellers was observed last week, except for cotton. The increase in production estimates was among the leading factors that caused the decline in agricultural commodities in the last week of 2021. Last week, wheat fell 5.4 percent, coffee fell 2.2 percent, corn fell 2 percent, soybeans fell 0.1 percent, and sugar fell 2.4 percent.