Commodity roundup, September 2026: the biggest movers

By Alykhan Virani. Published 2026-10-06.

The World Bank published its September 2026 commodity prices on 2026-10-02. Of 42 benchmark series, 26 rose on the month and 15 fell, and 1 was unchanged; the median change was +1.2%. Crude oil rose most (+28.5% to $116.8/bbl) and coffee fell most (−8.9% to $7.26/kg).

The largest gains

• Crude oil (Brent (dated, 38° API)): $116.8/bbl, +28.5% on the month, +72% on the year. This is the largest one-month rise since March 2026.
• Fishmeal (Any origin, 64-65% protein, CIF Hamburg): $2,916/t, +11.9% on the month, +65% on the year. This is the largest one-month rise since August 2026.
• Coal (Australian thermal, Newcastle): $147.1/t, +8.8% on the month, +38% on the year. This is the largest one-month rise since March 2026.
• Soybeans (US, CIF Rotterdam): $524/t, +8.7% on the month, +30% on the year. This is the largest one-month rise since November 2025, and the 3rd rise in a row.
• Sugar (World raw sugar (ISA daily price)): $0.41/kg, +7.9% on the month, +17% on the year. This is the largest one-month rise since August 2026, and the 3rd rise in a row.
• Natural rubber (TSR20, SGX/SICOM): $2.41/kg, +7.6% on the month, +39% on the year. This is the largest one-month rise since September 2024.

The largest falls

• Coffee (Arabica (ICE New York, other milds)): $7.26/kg, −8.9% on the month, −18% on the year. This is the largest one-month fall since February 2026.
• Sunflower oil (Sunflower oil, EU port): $1,390/t, −6.3% on the month, +6% on the year. This is the largest one-month fall since September 2023, and the 3rd fall in a row.
• Beef (Australia/New Zealand, CIF US ports): $6.86/kg, −5.8% on the month, −1% on the year. This is the largest one-month fall since June 2026, and the 5th fall in a row.
• Potash (Potassium chloride, standard grade, FOB Vancouver): $367.5/t, −5.0% on the month, +4% on the year. This is the largest one-month fall since December 2023, and the 4th fall in a row.
• Tin (LME cash): $53,712/t, −3.0% on the month, +56% on the year. This is the largest one-month fall since April 2025.
• Nickel (LME cash): $16,324/t, −2.5% on the month, +8% on the year. This is the largest one-month fall since July 2026.

Each mover’s page lists what drives its price and where it comes from, which is the place to look for the reasons behind a move; this roundup reports what changed, and does not guess at why.

Records, runs and the longer view

2 series set a new highest monthly average in cash terms: Fishmeal at $2,916/t; Copper at $14,474/t. A cash record is not necessarily a record after inflation; the real prices report shows where each price stands once inflation is removed.

Long runs in one direction: Zinc has risen for 6 months in a row; Beef has fallen for 5 months in a row; Potash has fallen for 4 months in a row.

Over twelve months, the largest changes were Crude oil +72%; Fishmeal +65%; Tin +56%; Silver +51%; Wheat +48%.

By category

By category, energy had the highest average change (+14.6%) and softs the lowest (−0.9%). Every category: Energy +14.6% (3 series); Grains & cereals +4.8% (3 series); Fibres & other raw materials +3.6% (2 series); Oilseeds & vegetable oils +2.5% (7 series); Fruit & vegetables +2.2% (2 series); Fertilizers +0.1% (4 series); Timber & forest products 0.0% (3 series); Metals 0.0% (10 series); Livestock, meat & dairy −0.3% (3 series); Softs −0.9% (4 series).

Method

A change compares a monthly average price with the previous month’s. “Largest since” looks back through the whole series, and a record is a new highest monthly average in cash terms. A series that did not report in the month is left out, not filled. Prices are monthly averages of benchmark quotes and lag the market, and nothing here is investment advice. The full table for the month is on the September 2026 report, and every month is in the monthly archive and as JSON. Sources and data vintages are on the sources page.

Prices are monthly benchmark averages that lag the market; informational only, not investment advice.