CRB futures index: Based on the CRB index, Jonathan Hay Systems Company appropriately adjusted the 17 commodity futures contract and compiled the CRB futures price index.
CRB futures index reflects the commodity price of 17, which is calculated by arithmetic average and geometric average. It is not only the unweighted average price of 17 commodity, but also the average price of each commodity at different times. The percentage change of component price will not change its relative proportion in the index. Among the 1 7 commodities, the proportion of each commodity in the index is the same, and no month or commodity has a great impact on the index. These 17 commodities are divided into the following six groups:
1. Crops and oilseeds (18%): corn, soybeans and wheat.
2. Energy (18%): crude oil, hot oil and natural gas.
3. Industry (1 1%): copper and cotton.
4. Livestock (1 1%): live cattle and live pigs.
5. Precious metals (18%): gold, platinum and silver.
6. Soft drinks (24%): cocoa, coffee, orange juice and sugar.
Because CRB index contains the price fluctuation of core commodities, it generally reflects the dynamic information of the world's major commodity prices, and is widely used to observe and analyze the price fluctuation and macroeconomic fluctuation of commodity markets, and can reveal the future trend of macroeconomics to some extent. It can better reflect the changes of producer price index (PPI) and consumer price index (CPI). The research shows that CRB index is a good inflation index, which fluctuates in the same direction as inflation index and bond yield. It can be said that CRB index reflects the trend of economic development to a certain extent, and has strong convergence with economic fluctuations.
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