One commodity in detail

Real price and long-run trend (log scale, 1900 = 100 where available)
The wave alone (% above or below the trend)

All 42 at a glance

Line: the wave from the first year of data to 2025, on the same scale for every commodity (−60% to +80%; vertical lines at 1900, 1950 and 2000). Number: how far above or below the trend it is now. Wave size: its typical swing. Tap a card to see it in the chart above.

Energy

Metals

Minerals

Precious Metals

Grains

Softs

Animal products

The numbers

CommodityGroupData fromWave sizeNow vs trend (2025)Change over 5 years (points)Trend, per yearPeaks
PetroleumEnergy186033%-7%-2+0.06%1860, 1918, 1955, 1981, 2010
Natural gasEnergy190027%-16%+16+0.31%1934, 1958, 1982, 2006
CoalEnergy185022%+12%-10+0.37%1858, 1918, 1948, 1981, 2016
TinMetals185032%+19%-6+0.36%1856, 1911, 1979, 2015
CopperMetals185025%+5%-13-0.31%1854, 1908, 1968, 2014
LeadMetals185024%-1%-33-0.52%1854, 1879, 1904, 1951, 1976, 2014
ChromiumMetals190019%+1%-10+0.51%1910, 1940, 1981, 2013
NickelMetals185019%-4%-9-1.30%1850, 1876, 1910, 1936, 1977, 2011
ZincMetals185017%+3%-13-0.14%1860, 1913, 1947, 1977, 2016
ManganeseMetals190016%-6%-2+0.31%1910, 1955, 1983, 2010
SteelMetals185014%+7%-4+0.36%1850, 1901, 1939, 1982, 2012
AluminumMetals190012%+7%+6-2.08%1910, 1935, 1980, 2008, 2025
SulfurMinerals187037%+20%+15-1.07%1870, 1912, 1935, 1985, 2025
PhosphateMinerals188022%+9%-12-0.65%1887, 1910, 1936, 1954, 1978, 2013
PotashMinerals190022%0%-16-1.50%1916, 1938, 1980, 2014
Iron oreMinerals190019%+2%-9-0.09%1914, 1936, 1960, 1981, 2012
BauxiteMinerals190019%+12%+10-1.06%1911, 1938, 1981, 2025
GoldPrecious Metals185032%+10%+6+0.65%1852, 1907, 1939, 1983, 2025
SilverPrecious Metals185028%+12%+4-0.34%1854, 1915, 1980, 2012
PlatinumPrecious Metals190027%-19%-4+0.22%1920, 1982, 2010
RyeGrains185024%-1%-32-1.02%1853, 1882, 1913, 1949, 1975, 2015
RiceGrains185019%+4%-22-1.12%1854, 1881, 1906, 1949, 1974, 2016
BarleyGrains185019%-7%-14-0.74%1855, 1880, 1913, 1947, 1976, 2012
CornGrains185018%+2%-18-0.72%1853, 1913, 1949, 1976, 2015
WheatGrains185016%+3%-18-0.90%1857, 1878, 1915, 1950, 1978, 2015
RubberSofts189032%-5%-13-2.63%1911, 1953, 1982, 2011
CocoaSofts185030%+21%+24-0.48%1859, 1908, 1952, 1979, 2009, 2025
SugarSofts185025%+7%-21-1.49%1854, 1879, 1917, 1949, 1976, 2017
SoybeansSofts190022%+7%-20-1.64%1917, 1949, 1975, 2016
CottonSofts185022%+6%-14-1.04%1864, 1914, 1950, 1976, 2017
CottonseedSofts187422%+4%-19-0.79%1874, 1915, 1947, 1973, 2016
CoffeeSofts185022%+12%+7-0.34%1850, 1890, 1927, 1954, 1980, 2025
PeanutsSofts187021%+8%-20-1.40%1913, 1949, 1972, 2016
Palm oilSofts185020%+8%-7-0.87%1855, 1879, 1914, 1947, 1977, 2016
WoolSofts185017%0%-26-1.10%1856, 1879, 1918, 1948, 1978, 2014
Saw logsSofts185016%-15%-24+0.59%1854, 1884, 1912, 1951, 1989, 2015
TeaSofts185011%+5%-13-1.20%1854, 1899, 1957, 1983, 2015
TobaccoSofts185010%+2%+2-0.42%1854, 1892, 1919, 1957, 1986, 2025
LambAnimal products185029%-5%+15+0.50%1854, 1879, 1895, 1916, 1939, 1982, 2004
BeefAnimal products185025%+17%+2+0.54%1854, 1879, 1916, 1940, 1968, 2025
PorkAnimal products185021%+7%+4-0.95%1858, 1915, 1940, 1980, 2025
HidesAnimal products185019%-25%-33-1.00%1856, 1880, 1913, 1946, 1991, 2015

Real prices from Jacks (deflated by US CPI). The end of each line is provisional (see the Now page).

Updated 29 Sep 2026 02:33 JST · annual data to 2025 · monthly prices to Aug 2026