Corn prices are plummeting as farmers across the Midwest race to plant this year’s crop.
 

This winter, natural gas prices hit a five-year high at $6.49 per million British thermal units, charging higher due to extreme cold weather across much of the country.

US crude oil supplies are continuing to swell, reaching nearly 400 million barrels last week, the highest level since 1931. Oil supplies are rising even as refineries are running near full-speed, pumping out large volumes of gasoline and diesel fuel.

Global farmers, fishermen, meteorologists and commodities traders are closely watching water temperatures in the South Pacific, waiting to see if the water will warm up this summer, a telltale sign of the El Niño phenomenon. According to the U.S.

Gold prices plunged this week, falling over $40 per ounce during the day Tuesday, the largest sell-off this year. Prices sank after poor economic news from China indicated that gold demand may be waning there.

Winter’s grasp continues to linger across much of the Midwest, forcing some farmers to wait for a thaw.

Gold, silver, and platinum rallied sharply all week, trading Friday at one-week highs.

Janet Yellen, in her first meeting as Chairwoman of the Federal Reserve last week, indicated that the Fed would continue to reduce stimulus and could be on track to start raising interest rates in the near future. In response, gold prices have collapsed, losing over $100 per ounce.

Over the past few months, basic commodities that make up the bulk of Americans’ morning meal have risen sharply in price. Although the reasons for the price increases vary, most people will be likely to see higher food costs at the breakfast table in the coming months.

The crisis in Ukraine deepened this week as the Crimean region prepared for a referendum on Sunday about whether or not to break away from the rest of Ukraine.

Subscribe to Futures File