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Palladium shines as commodities charge
Strong demand for agriculture futures and geo-political tensions in Ukraine not only increased volatility, it led to another strong week with on the DJ UBS Commodity Index. It rose by more than two percent although the agriculture sector was up by 5% on the week.
Precious metals received a safe haven boost from the crisis in Ukraine. Palladium surged to a one year high on worries about supply disruption from the world's two biggest suppliers, Russia and South Africa.
WTI Crude spiked to almost a six month high before slumping on the realisation that energy supplies were most likely not going to be impacted by the Ukraine crisis.
The key agriculture crops of wheat, corn and soybeans are currently well supported as strong weekly export sales continued to reduce the overhang of supplies left over from last year's bumper crop.
01:42 minutes
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