Commodity Futures Forecasts: October 24 – October 28, 2016
Evgeny Ilyukhin | Oct 24, 2016 07:08PM ET
The article aims to provide price forecasts for commodity futures for October 28, 2016. The tables below show the weekly commodity futures prices in US dollars over the period from September 23, 2016 to October 21, 2016 (commodity exchanges data) and forecasted period – October 28, 2016 (author’s calculations). The commodities are classified and placed in alphabetical order. The commodity units and exchange abbreviations are provided. Forecasted values: increase in green; decrease in red. Forecasts are projected with an Autoregressive Integrated Moving Average (ARIMA) model based on relevant weekly historical data.
It is advised to use forecasted values for identifying the short-term price trends over the period firstly. The notable positive price changes are expected for gasoline (4.01%), soybean meal (3.87%) and heating oil (3.85%). lean hogs (-6.83%), oats (-5.72%) and silver (-3.08%) will likely drop in price by the end of the week. On the group level, the group of Energy commodities is expected to rise over the period.
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