Prices for nearly every natural commodity have grown over the past year, largely due to the coronavirus pandemic's effect on the economy. Sugar costs grew by 54%, soybeans by 83%, and corn by more than 100%. Commodity prices rise and fall along with supply and demand. The past year stirred up a perfect storm with the shutdown of the economy, supply chain issues and manufacturing plant closures all occurring at the same time. Now that the economy appears to be reemerging, will there be a settling of commodity prices, or will they continue to gain steam and grow?
Stacker researched the highest prices on record for every major commodity, analyzing the Federal Reserve's Economic Data database, or FRED. Data was available from 1990 to 2021, with some commodities having data as far back as 1968. The most recent available price, as of April 2021, is also listed. If a commodity had two or more different measures, the more popular one, according to the Federal Reserve, was used.
While most commodities have not returned to their historic peaks, those who stand to gain—or lose—from the rising prices, are keeping a close eye on what’s to come.
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