Major influences on the commodity market
Here are just a few examples of what can effect the commodity market. For those of you who are wanting to trade professionally, or already do, you are probably watching news events already. These sorts of events can give you more trading opportunities on top of your forex and index trading!
Natural disasters: Extreme weather and other unpredictable natural disasters can seriously effect on commodities (as well as currencies). When the Western Cape in South Africa had a serious drought, it reduced the agricultural production. As a result we saw a spike in the value of many products such as wheat and grain. You can profit from these events.
Political Events: Especially international diplomacy! President Donald Trumps ban on Huawei products resulted in a $12 billion drop in revenue and a loss of Google Apps availability on these phones. Terrible for Huawei, but amazing for traders who shorted that position!
There are many more things that can effect the commodity market, these are just two things that you can look out for to make some more trades!