PODCAST · news
Commodity Compass Weekly
by Jennifer Pickerel
Welcome to Commodity Compass Weekly with Jennifer Pickerel, your essential source for navigating the fast-moving world of commodities. Every week, we break down the biggest market movers, trends, and macro factors driving price action across energy, metals, agriculture, and beyond. Whether you're trading oil, watching gold, or managing risk in softs and grains, this podcast delivers sharp insights and a forward-looking view to help you stay ahead.Join us every week for a concise and informative update that keeps you connected to the pulse of the global commodity markets.
Episodes
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Commodity Compass - 8/28 - Grains Make Volatile Gains as Metals Cool
Kevin Warsh took the stage at Jackson Hole today — and left little doubt the Fed still believes it has work to do on inflation. Gold tumbled more than 3 percent on the day as the odds of a September rate hike climbed back toward a coin flip. And in the ag space, wheat exploded to a three-year…
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Commodity Compass - 8/21 - Treasury's Intervention in the Bond Market Sends Gold Soaring
On Wednesday, with the 30-year yield sitting at a 19-year high, Treasury Secretary Scott Bessent announced the government would at least double the size of its long-term debt buybacks from two billion to at least four billion dollars per operation and targeting the 10-to-30-year part of the…
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Commodity Compass - 8/14 - Gold Finds its Rhythem in Markets Once Again
The market is still working off the summer doldrums — thin, low-conviction trading — and this week's data did little to break the spell. The big commodity story this week was in Washington. On August 7th, the President convened a roundtable of mining executives at the State Department — Rio…
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Commodity Compass - 8/1 - Tin Remains a Standout in the Commodity Trade
The Federal Reserve held rates again this week — and it was the press conference, not the decision, that moved markets, driving long-term Treasury yields to their highest since 2007. Halfway around the world, Japan stepped into the currency market to rescue the yen from a forty-year low, and the...
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Commodity Compass - 7/24 - Brent Crude Approaches $100, Gold Finds Relief
The escalation in the Middle East did not pause this week — it expanded. Iran and the United States continue to apply military pressure throughout the Gulf, and the Houthis appear to have opened a second front, with activity threatening Saudi shipping lanes in a separate strait. Oil has now…
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Commodity Compass - 7/19 - Brent Crude Has Strong Week to the Upside, Cattle Markets Potentially Show Signs of Topping
Two macro forces defined the week. Iran and the United States escalated military pressure throughout the Gulf. The ceasefire that markets spent six weeks pricing in showed new cracks, and oil reversed its entire recent descent in a single week. And on Wall Street, the AI momentum trade that…
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Commodity Compass - 7/10 - The Unraveling Ceasefire Boosts Most Commodities this Week
This week delivered a stark reminder that the Hormuz saga is not over. Two days of direct US-Iran clashes mid-week threatened to unravel the ceasefire that markets have been pricing in for the past six weeks. Bloomberg reported Thursday that peace talks are continuing despite the hostilities — a...
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Commodity Compass - 7/2 - Oil Continues to Fall Ahead of US Holiday Weekend
It's a short week heading into the Fourth of July weekend and the markets treated it accordingly, with lower volume and decisive price moves driven more by a macro narrative than fresh data. The Iran deal remains unsigned. Supreme Leader Khamenei has not publicly committed. But the cumulative...
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Commodity Compass - 6/26 - The Trump Administration Makes Another Investment into Nuclear Energy
The dominant force on the board this week didn't come from a commodity market at all — it came from the AI trade, and the doubt that suddenly crept into it. On Tuesday, a wave of selling hit the semiconductor and memory names that have led this market all year. Micron fell double digits, Marvell,...
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Commodity Compass - 6/19 - FOMC Swing Hawkish in the New Warsh ERa
Kevin Warsh held his first press conference as Chair of the Federal Reserve, and he used the debut to push back against the market's expectation of summer rate cuts. The read coming out of that room was unmistakably hawkish — a Fed in no hurry to ease, signaling that it intends to keep policy…
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Commodity Compass - 6/12 - More Peace Deal Optimism Rebounds Metal Markets
This week brought the most substantive Iran deal developments since the conflict began. Axios, which hasbeen the primary source of White House leak intelligence throughout the Hormuz crisis, published a detailed walkthrough of the MOU text on Thursday night.According to a diplomat from one of the...
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Commodity Compass - 6/5 - Friday's Economic Data Punishes Investors and Commodities
Friday's May employment report landed above expectations across the board — stronger job creation, a tight unemployment rate, and wage growth that gives the Federal Reserve no reason to move toward rate cuts. The reaction was immediate: yields rose sharply, the dollar strengthened, and equity and...
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Commodity Compass - 5/29 - A Memorandum of Misunderstanding Defines Energy Markets
This week's defining event arrived not from the strait but from the negotiating table. Reports of a U.S.-Iran memorandum of understanding on a framework for talks set off the mostsignificant single-week oil price decline since this crisis began — WTI broke below one hundred dollars for the first...
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Commodity Compass - 5/22 - EIA Proclaims July as Oil's Red Zone
Three supertankers carrying an estimated six million barrels of crude transited the Strait of Hormuz this week — cargos bound for Japan and China, the first to move through the strait since the conflict began. Japan, whose crude imports from the Middle East had fallen to their lowest level on...
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Commodity Compass - 5/16 - The Move in Bond Yields Brought Volatility to Commodities
Last week on this show, we talked about the divergence — equities at all-time highs while commercial traffic through the Strait of Hormuz had gone to zero. We called it one of the more remarkable macro contradictions in recent commodity history. This week, the underlying tension finally resolved…
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Commodity Compass - 5/9 - Equity Markets Brush Off Rising Commodity Supply Risks
The Hormuz crisis entered new territory this week. AIS vessel-tracking data from MarineTraffic confirmed what many had feared was approaching: commercial traffic through the Strait of Hormuz has dropped to zero. Not diverted around the Cape of Good Hope. Not delayed. Zero transits in the past...
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Commodity Compass - 5/1 - Grains Head Higher on Fertilizer Squeeze; UAE Leave OPEC+
This week, one of the most significant institutional developments of the Hormuz crisis arrived not with a missile strike or a diplomatic announcement — but with a formal letter. On April 28th, the United Arab Emirates announced its withdrawal from OPEC and the broader OPEC-plus alliance…
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Commodity Compass - 4/24 - Brent Heads Above $100 Once Again; Concerns in Wheat Country
The Strait of Hormuz stalemate is now entering its ninth week, and the numbers are becoming staggering. Thirteen million barrels per day remain shut in. Cumulative supply losses have now surpassed six hundred and fifty million barrels — roughly seven days of total global consumption, gone from…
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Commodity Compass - 4/18 - The Week that Was Not
If last week was the ceasefire that wasn’t, this week was the reopening that wasn’t. The U.S. Navy opened the week by announcing a blockade of Iranian ports and mine-clearing operations in the Strait. Oil rebounded sharply — Brent pushed back toward $99 — as the Islamabad talks between U.S. and...
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Commodity Compass - 4/10 - Commodity Trades the Week in Two Acts
This week’s commodity story came in two acts. Act one: Wednesday, April 8th. President Trump announced a two-week ceasefire between the United States and Iran, with Tehran agreeing to reopen the Strait of Hormuz as a condition. Act two: the breakdown. The ceasefire began unraveling almost...
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Commodity Compass - 4/3 - Historic Inversion with Brent and WTI
This was the week the Iran war moved from a supply shock to something closer to an existential market event. Four things happened, and every one of them lands on Monday. April 6th is shaping up to be one of the more consequential market opens in recent memory.
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Commodity Compass - 3/27 - Iran Shuts the Door
This week’s commodity story came down to three data points, and none of them were bullish for a resolution. Iran’s IRGC turned back two Chinese-flagged vessels — CSCL Indian Ocean and CSCL Arctic Ocean — owned by China’s state shipping giant, less than 48 hours after Iran’s Foreign Minister...
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Commodity Compass - 3/21 - Iranian Escalations Move Towards Midstream Energy Infrastructure
Commodity markets were driven by one overwhelming reality this week: the Middle East conflict moved from a war narrative to an energy system story. After earlier strikes on Iranian infrastructure, the week was defined by the widening fallout — attacks spread across major oil and gas sites in the...
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Commodity Compass - 3/14 - Commodities Become front Line of Global Risk Pricing
This week, commodity markets traded under the shadow of a single question: what happens if the Strait of Hormuz becomes a battlefield? After last week’s U.S. and Israeli strikes on Iran, the story shifted from the initial shock to the consequences. Through the week, Iran stepped up threats…
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Commodity Compass – 3/6 - The Iranian Conflict Launches Oil Volatility
The commodity complex was thrown into one of the most geopolitically charged environments we’ve seen in years this week. Joint U.S. and Israeli strikes on Iranian targets escalated tensions across the Middle East and immediately forced markets to reprice risk. The Strait of Hormuz—through which...
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Commodity Compass – 2/27 - Precious Metals and Energy Rise on a Week where Growth Stocks Fell
This was a week where volatility wasn’t random — it had a trigger. The release of the Citrini report sent shockwaves through high-multiple tech names, reigniting questions around valuation, liquidity sensitivity, and just how fragile the AI-led equity rally might be. That pressure in growth…
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Commodity Compass – 2/22 - Military Movements in the Middle East Cause Metals and Energy to Rise
This week was a headline trader’s market. The Supreme Court’s decision to take up challenges related to presidential tariff authority reintroduced uncertainty around trade policy, and that uncertainty rippled through metals and energy. At the same time, renewed U.S. military movements in the…
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Commodity Compass – 2/13 - Metals Stabalize while Grains and Livestock Show Relative Strength
This week, commodities traded in a market that was recalibrating fast. U.S. inflation data came in cooler than expected, reinforcing the disinflation trend and sending Treasury yields lower across the curve. That drop in rates, paired with a generally weaker U.S. dollar, created a supportive...
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Commodity Compass – 2/7 - Whiplash Volatility in Commodities this Week
This week’s commodity session was driven by whiplash volatility across risk assets, with early-week caution giving way to sharp reversals as traders recalibrated macro expectations into Friday. U.S. labor signals helped set the tone: ADP showed just 22,000 private-sector jobs added in January…
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Commodity Compass – 1/30 - Energy Prices Rise while Precious Metals Face a Hard Correction
This week was defined by a violent correction in precious metals, with both gold and silver pulling back hard after months of relentless upside, as profit-taking, a stronger U.S. dollar, and shifting rate expectations triggered one of the largest weekly drawdowns we’ve seen this cycle. A major...
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Commodity Compass – 1/23 - Natural Gas and Silver Take the Spotlight This Week
This week felt like a classic rotation trade: precious metals higher, base metals mixed, and energy chopping around as geopolitics and capital flows drove the tape. Gold and silver caught a strong bid as tensions around Greenland cooled, removing some near-term geopolitical risk but paradoxically...
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Commodity Compass – 1/16 - Commodities Fade Late in the Week as Iranian Tensions Decrease
This week’s commodity price action was defined by a dramatic mix of geopolitical risk and shifting macro data that set the tone early — only for sentiment to fade into Friday’s close. Markets opened the week with heightened tensions in Iran, including new confrontations and sanctions headlines…
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Commodity Compass – 1/9 - Venezuela News has Oil on Edge
This week commodity markets were dominated by a mix of geopolitical risk, macroeconomic signals, and shifting expectations about inflation and growth. Oil prices were especially reactive to unfolding events in Venezuela, where U.S. intervention and moves to potentially redirect Venezuelan oil...
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Commodity Compass – 12/19 - Base Metals Find a Resurgence as Energy Lags
Commodity markets were genuinely mixed this week as a new batch of U.S. economic data exposed growing discrepancies in inflation signals, complicating expectations for monetary policy in 2026. While headline CPI and PPI continued to cool, components tied to shelter, services, and food prices...
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Commodity Compass – 12/12 - The Dollar Weakens and Farmers Receive a Bailout
This week’s commodity price action was dominated by central-bank policy and government intervention headlines, starting with the Federal Reserve’s decision to cut rates and resume short-dated Treasury purchases, which markets interpreted as a renewed liquidity backstop. That move initially...
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Commodity Compass – 12/04 - Silver and Natural Gas Steal the Stage this Week
Hopes for a December rate cut from the Federal Reserve (given soft inflation and weak hiring trends) buoyed non-yielding assets, but the broader tone remained cautious as traders weighed soft demand against still-ample supply. The result: demand-sensitive commodities — base metals, energy and...
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Commodity Compass – 11/21 - Livestock Under Pressure this Week Amidst Equity Volatility
This week’s macro backdrop was dominated by sharp volatility across global equity markets as investors reacted to mixed economic signals and concerns over the capex spend on the AI buildout. Risk appetite swung day-to-day, with investors unwinding positions in growth-sensitive assets and rotating...
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Commodity Compass – 11/14 - Volatility Returns as Growth Fears and Policy Uncertainty Weigh on Markets
It was a volatile week across global markets as the U.S. government shutdown finally ended, but worries about growth, stretched tech valuations, and policy uncertainty kept investors cautious. Commodities traded defensively ... gold and silver fluctuated on shifting Fed expectations, while...
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Commodity Compass – 11/08 – Pressured US Tariff Policies Rattle Markets this Week
This week, commodity prices slid broadly as global equity markets de-risked and traders grew cautious about growth prospects. The ongoing U.S. government shutdown — now the longest in history — continued to cloud economic visibility, with consumer sentiment plunging to its lowest levels in years....
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Commodity Compass – 11/01 – Uranium Receives Headline Boost while China Returns to the US Soy Bean Market
The headlines this week were dominated by politics and trade: In Argentina’s mid-term elections, Javier Milei’s party secured a decisive win, boosting market confidence in Argentina’s reform agenda, lifting the peso, and energizing investment-interest in Latin American mining and agricultural...
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Commodity Compass – 10/25 – Policy Shock in U.S. Cattle, Geopolitics Drive Metal & Energy Narrative
The commodity narrative this week shifted from metals volatility to policy and geopolitics in the Americas. Washington moved to quadruple low-tariff beef imports from Argentina to curb grocery inflation, alarming U.S. ranchers and signaling a deeper strategy to pull Argentina out of China’s orbit...
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Commodity Compass - 10/17 - Precious Metals Continue to Shine, Cattle go Limit Down
This week, the dominant headline driving the metals and broader markets was again the escalating U.S.–China battle over rare earth export controls. Beijing unveiled its most aggressive export restrictions yet — expanding the list of controlled elements from seven to twelve, adding rules on...
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Commodity Compass - 10/10 - Rare Earth Export Controls Rattle Geopolitics
The dominant narrative pushing commodities this week was the escalating U.S.–China quarrel focused on rare earth export controls. China, citing national security, expanded restrictions on rare earth metals, magnets, and the technology associated with processing and refining, tightening its grip…
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Commodity Compass - 10/3 - Diverging Supply Concerns in Copper and Oil
Markets shrugged off the US government shut down this week. Job and private sector employment data showed a decaying labor market, but investors saw it as more fuel for cheaper capital. As the major boards found new all-time highs this week, precious metals extended their rally as well—gold…
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Commodity Compass - 9/26 - Platinum and Palladium Outperform, Lean Hogs find a Friday Surge
We started the week riding some momentum in oil, but by midweek WTI and Brent gave back gains after a deal to reopen the Kurdish-Iraq pipeline. The demand for precious metals continued throughout the week with gold making new all-time highs, silver closing in on its all-time highs. Both were...
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Commodity Compass - 9/21 - Rate Cuts Move Silver and Gold; Harvest Kicks Off in the Heartland
The Federal Reserve offered its first rate cut since December last week and spurred heavy buying into the precious metals complex later in the week. WTI and Copper and still in their own trading ranges. Harvest in the US kicks off while prices get a bounce.
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Commodity Compass - 9/14 - Grains, Gold and Palladium Shine
President Trump also ratcheted up pressure on the Fed Chair to enact a “big rate cut now,” citing weakening producer prices and arguing that inflationary risks are receding. These dovish cues helped push the U.S. dollar lower this week, improving the outlook for commodities whose prices are...
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Commodity Compass - 9/7 - Gold in the Spotlight this Week, Further Weakness in Grains
Markets began September on edge, with investors highly attuned to U.S. inflation data and momentum toward a possible rate cut. Risk appetite was buoyed by an unexpectedly soft dollar into Friday, as rising expectations that the Federal Reserve could ease policy kept equities buoyant and sought to...
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Commodity Compass - 8/29 - Gold and Silver Break Out, Corn Finally Rallies
As the Executive Branch of the US Government continues to put pressure on the FOMC, markets are betting on easier money and lower rates. This pushed gold and silver into higher territory this week. Corn finally some a bounce this week while cattle continued to rise. The oil shale patch is worried...
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Commodity Compass - 8/24 - Dovish Tones on Friday Sent Commodities Higher for the Week
The markets awaited patiently all week for Jerome Powell's Jackson Hole comments on Friday. The dovish tone sent physical markets higher and the US Dollar lower. Cattle hit another new all-time high and we have reason to believe the move is not over.
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ABOUT THIS SHOW
Welcome to Commodity Compass Weekly with Jennifer Pickerel, your essential source for navigating the fast-moving world of commodities. Every week, we break down the biggest market movers, trends, and macro factors driving price action across energy, metals, agriculture, and beyond. Whether you're trading oil, watching gold, or managing risk in softs and grains, this podcast delivers sharp insights and a forward-looking view to help you stay ahead.Join us every week for a concise and informative update that keeps you connected to the pulse of the global commodity markets.
HOSTED BY
Jennifer Pickerel
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Frequently Asked Questions
How many episodes does Commodity Compass Weekly have?
Commodity Compass Weekly currently has 67 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
What is Commodity Compass Weekly about?
Welcome to Commodity Compass Weekly with Jennifer Pickerel, your essential source for navigating the fast-moving world of commodities. Every week, we break down the biggest market movers, trends, and macro factors driving price action across energy, metals, agriculture, and beyond. Whether you're...
How often does Commodity Compass Weekly release new episodes?
Commodity Compass Weekly has 67 episodes. Check the episode list to see recent publication dates and frequency.
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You can listen to Commodity Compass Weekly on PodParley by clicking any episode. We provide an embedded audio player for direct listening, and you can also subscribe via your preferred podcast app using the RSS feed.
Who hosts Commodity Compass Weekly?
Commodity Compass Weekly is created and hosted by Jennifer Pickerel.
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