Commodities moved on several fronts. Wheat deepened to -13.5% on the month (from -11.4%), 3.0 times its normal pace. Natgas futures roll drag went from -0.6pt to -8.3pt.
4.9× its usual move
Natgas futures roll drag went from -0.6pt to -8.3pt, 4.9 times its normal pace. Oil futures roll drag went from +1.4pt to +1.5pt.
3.6× its usual move
Gold realized vol moved from +15.0% to +19.5%, its biggest move since June 16. Copper realized vol moved from +18.1% to +20.1%.
3.0× its usual move
Wheat deepened to -13.5% on the month (from -11.4%), 3.0 times its normal pace.
2.7× its usual move
The broad commodity ETF realized vol moved from +13.5% to +16.3%, 2.7 times its normal pace. The broad commodity ETF moved from $33.6 to $32.4.
2.5× its usual move
Gold vol moved from 23 to 26, its biggest move since August 25. Oil vol moved from 55 to 62.
Descriptive research, not investment advice