In the commodities asset class in September 2026, the gasoline crack spread rose more than 20%; Brent crude oil, RBOB gasoline, heating oil, the distillate crack spread, and frozen orange juice futures gained more than 10%. ICE cocoa futures fell more than 20%, ICE cotton futures fell more than 15%, and palladium and CBOT wheat fell more than 10%. The DJIA, S&P 500, and Russell 2000 indices were lower, while the tech-heavy NASDAW rallied. Long bond futures fell to their lowest level since July 2002. The December dollar index futures rose 2.09%. Long bond futures fell 5.52%. A higher dollar index and higher interest rates were bearish for commodity prices, and most raw material futures, except energy, posted losses. Long-term interest rates exploded higher, and the Fed raised the Fed Funds Rate by 25 basis points at the most recent September FOMC meeting.
