Naphtha climbed 2.90 percent alongside crude highs
Naphtha rose 2.90 percent to 942.76 dollars a tonne on 23 October, lagging the same-day crude gain while freight and cracker runs still shaped the complex.
Commodities
Gold, oil, gas and the metals complex — supply, demand and the trades the physical market is telegraphing.
Caustic soda futures fell 3.89% to 1,632 yuan a tonne
Caustic soda futures settled at 1,632 yuan a tonne on 22 October 2026, down 3.89%, while a 32% spot quote held at 627 yuan and styrene futures also rose.
What the Baltic Dry Index Measures Across Ship Classes
The Baltic Dry Index is a 40/30/30 blend of Capesize, Panamax and Supramax hire. The routes inside it, and a week they split, show what the figure measures.
Ethanol Price Prediction: $2.22 Bull Case vs $1.79 Bear
Ethanol price prediction uses Iowa's $2.005 a gallon plant truck average from 16 October 2026, with a $2.22 bull case and a $1.79 bear case by 31 March 2027.
7 Myths Traders Repeat About Class III Milk Futures
Class III milk futures cash-settle to a USDA formula, not a cheese quote. Seven myths on the 3.5% standard, the announcement, and what a USDA report moves.
Lean hogs: national negotiated base fell to $65.94
Lean hogs fell in the cash market on 20 October 2026. USDA put the national negotiated carcass base at $65.94 per cwt, down $3.66 from the day before.
Germanium Price Prediction: 33,000 Yuan Bull vs 24,000 Bear
Germanium price prediction: the SMM China ingot is 28,250 yuan/kg on 20 October 2026. A 33,000 yuan bull case sits above it and a 24,000 yuan bear case below.
Urea fell 42.4% from the second to the third quarter
Urea fell 42.4% from a $693.50 second-quarter average to $399.20 a tonne in the third, on the World Bank pink sheet dated 2 October 2026. September was $407.50.
Cheddar Rises 21.5% to $1.68 in the Week to Friday
Cheddar cheese price rose 21.5% to $1.6825 a pound in the CME cash week to Friday 16 October, while October cheese futures settled at $1.4460, far behind cash.
Soybean Meal Price Prediction: $410 Bull Case vs $310 Bear
Soybean meal settled at $357.10 a short ton on 16 October. USDA holds the season average at $340, with a $410 bull case and a $310 bear into December expiry.
Alumina Price Prediction: $430 Bull Case vs $280 Bear
Alumina price prediction to 31 December 2026: the corrected fob Australia index at $365.94 a tonne, a $430 bull case, a $350 base and a $280 bear case.
Potash Price Prediction: $420 Bull Case vs $290 Bear
September granular potash, CFR Brazil, averaged $367.5 a tonne. The December bull case is $420 and the bear case is $290, with the base at $350.
Tungsten Price Prediction: 550,000 Yuan Bull vs 420,000 Bear
Domestic Chinese APT is 490,000 yuan a tonne on 14 October. The bear case is 420,000 yuan by 31 December, and the bull case is a return to the 550,000 yuan October guide.
Rubber TSR 20 Rises 8.3% in a Month to 264.8 Cents
The rubber price for SICOM TSR 20 November is 264.8 US cents a kilogram, up 8.3% from 244.5 on the 11 September RTAS sheet to the 12 October settlement.
Molybdenum Price Prediction: $86,000 Bull vs $70,000 Bear
Molybdenum roasted concentrate, LME spot, closed September at $78,815 a tonne. The bull case is $86,000 by year-end; the bear case below that spot is $70,000.
EU Carbon Price Rises to €82.32 on the Q3 CBAM Print
EU carbon price rose to €82.32 a tonne for Q3 2026 CBAM certificates, €7.04 or 9.4% above the Q2 print of €75.28, published by the Commission on 5 October.
Antimony Price Prediction: 112,000 Yuan Bull vs 94,000 Bear
Chinese 1# antimony ingot is still quoted at 105,000 yuan a tonne. The year-end scenarios are 112,000, 102,000 and 94,000 yuan.
Rhodium Price Forecast: $11,000 Bull Case vs $7,500 Bear
Rhodium price forecast into 31 December 2026: an $11,000 bull case against a $7,500 bear case, with the $9,200 base still inside today's wide dealer spread.
Cobalt Price Forecast: $52,000 Bull vs $32,000 Bear
Cobalt price forecast: the LME spot was $38,445 a tonne on 6 October 2026. Base case $44,000 by end-2027, with a $52,000 bull case and a $32,000 bear.
API2 Coal Prediction: $150 Bull Case vs $85 Bear Case
API2 coal prints $104.75 on Yahoo's stale MTF=F field, not an Argus settlement. The 31 December base is $130, with a $150 bull case and an $85 bear case.
Heating Oil Price Prediction: $5.05 Bull Case vs $3.55 Bear
Heating oil (NY Harbor ULSD) last traded at $4.46 a gallon on 6 October 2026. Base case is $4.15 by 29 Jan 2027, against a $5.05 bull and a $3.55 bear.
Soybean Oil Price Prediction: 74c Bull vs 64c Bear
Soybean oil sits on USDA's unchanged 70-cent Decatur average. December futures last traded at 69.42 cents, with a 74c bull case and a 64c bear case today.
Lumber Price Prediction: $640 Bull Case vs $470 Bear
Lumber's November 2026 future closed at $526.50 on 2 October. The bull case is $640, the bear case is $470, and the working base into year-end is $560.
November Rough Rice Fell 0.9% to $16.36 Last Friday
Rough rice futures fell 0.9% to $16.36 per hundredweight on Friday 2 October, down 15.5 cents, while November is still 4% above its 2 September close.