December Commodity Market Review: Precious Metals Lead, Grains Lag in 2025
As the calendar rolls to December, investors and producers alike are taking stock of how major commodities have performed year-to-date. With 11 months now behind us, clear trends have emerged across the 48-commodity index—highlighting standout sectors as well as markets that struggled to gain traction.
As the report notes, “Calendar rolls to December today, giving us an opportunity to review our list of 48 commodities and how they performed year-to-date with now 11 months in the books. No doubt, precious metals have been the great investment since New Year’s.” Precious metals once again proved to be top-tier hedges in a volatile economic environment.
The data confirms that “Our list of 48 shows silver, platinum, and gold, one, two, and three on the list.” Supportive global demand, inflation concerns, and a steady investment appetite helped push these metals to the top spots of the performance rankings.
Among agricultural markets, soybean oil emerged as the strongest performer. According to the review, “Highest rated ag commodity is soybean oil, ranking at number eight, up 19.5%.” Influenced by renewable fuel demand and tight global vegetable oil supplies, soybean oil continues to show resilience.
Livestock markets also held firm despite recent pressure. The report states, “Now, with all the pressure in live cattle and feeder cattle the past two weeks, both remain in the black year-to-date with strong performance, of course, mid to late summer. Feeder cattle, number 10, up 17% still. Live cattle, number 11, up 14.” Seasonal shifts and feed cost trends supported cattle markets earlier in the year, keeping both categories positive overall.
On the downside, grain markets struggled. As noted, “No surprise that oats, cotton, corn, and wheat all still in the red for the year, down anywhere from seven to 14%.” Abundant supplies, diminished export demand, and variable weather patterns weighed heavily on prices.
Overall, the 2025 year-to-date commodity landscape shows a clear divide: strong gains in precious metals and select ag markets, contrasted with persistent weakness in grains. With one month remaining, market participants will be watching closely to see whether these trends hold as the year closes.
Audio Reporting by Mark Oppold for Southeast AgNet.