Commodity Origins

Commodity prices in July 2026: the biggest changes

In July 2026, 13 of 42 benchmark prices rose and 28 fell, with 1 unchanged; the median change was −1.0%. Cocoa rose most, +27.5%: largest one-month rise since December 2024, the 4th rise in a row. Silver fell most, −11.8%. No price set a cash record this month.

Each figure compares the monthly average price with the previous month's, for the primary World Bank Pink Sheet benchmark of each commodity (42 series reported this month). Prices are monthly averages of benchmark quotes and lag the market; this is not investment advice. Click a commodity for its full price history. Our written roundup for July 2026 adds context on the movers.

Biggest gains

Largest one-month price rises, July 2026
CommodityPriceMonth12 monthsHow unusual
Cocoa
Cocoa (ICE New York and London average)
$5.61/kg+27.5%−24%Largest one-month rise since December 2024, the 4th rise in a row
Coffee
Arabica (ICE New York, other milds)
$7.91/kg+16.5%+10%Largest one-month rise since March 2014
Palm kernel oil
Malaysia, CIF Rotterdam
$2,413/t+11.4%+15%Largest one-month rise since March 2026
Wheat
US hard red winter, Gulf export
$310/t+8.4%+32%Largest one-month rise since September 2022
Phosphate rock
Morocco, 70% BPL, FOB Casablanca
$170/t+8.3%+11%Largest one-month rise since July 2022
Corn
US No. 2 yellow, Gulf export
$213.4/t+8.3%+11%Largest one-month rise since September 2024
Sugar
World raw sugar (ISA daily price)
$0.34/kg+6.3%−8%Largest one-month rise since May 2026
Cotton
Cotlook A Index, CFR Far East
$1.96/kg+3.2%+13%Largest one-month rise since May 2026

Biggest falls

Largest one-month price falls, July 2026
CommodityPriceMonth12 monthsHow unusual
Silver
Handy & Harman, New York
$58.8/troy oz−11.8%+56%Largest one-month fall since June 2026
Urea
Urea, FOB Middle East
$400/t−11.7%−19%Largest one-month fall since June 2026, the 3rd fall in a row
Natural gas
US Henry Hub
$2.89/MMBtu−8.3%−9%Largest one-month fall since April 2026
Aluminum
LME cash, high grade
$3,161/t−8.1%+21%Largest one-month fall since April 2025
Platinum
London afternoon fix
$1,622/troy oz−6.0%+17%Largest one-month fall since June 2026, the 6th fall in a row
Rice
Thai 5% broken, Bangkok FOB
$467/t−5.5%+19%Largest one-month fall since March 2026
Lead
LME cash
$1,842/t−5.3%−8%Largest one-month fall since April 2025
Nickel
LME cash
$16,651/t−5.3%+11%Largest one-month fall since June 2026

Long runs

Prices that have now moved in the same direction for four or more months in a row: platinum, 6 falls (−6.0% in July 2026); gold, 5 falls (−3.7% in July 2026); lamb, 5 rises (+1.6% in July 2026); cocoa, 4 rises (+27.5% in July 2026); oranges, 4 falls (−4.9% in July 2026); coconut oil, 4 falls (−2.8% in July 2026); zinc, 4 rises (+1.7% in July 2026).

By category

Average price change by category, July 2026
CategoryAverage changePrices
Softs+12.6%4
Grains & cereals+3.7%3
Oilseeds & vegetable oils+1.2%7
Timber & forest products−0.6%3
Fibres & other raw materials−0.9%2
Livestock, meat & dairy−0.9%3
Fertilizers−1.3%4
Fruit & vegetables−2.9%2
Metals−4.1%10
Energy−5.1%3

A simple average of the percentage changes of the benchmark prices in each category, not weighted by market size.

Biggest changes over twelve months

Largest twelve-month price changes to July 2026
CommodityPrice12 monthsThis month
Tin$52,971/t+58%−0.1%
Silver$58.8/troy oz+56%−11.8%
Oranges$0.78/kg−49%−4.9%
Copper$13,543/t+39%−0.1%
Coconut oil$1,924/t−32%−2.8%
Wheat$310/t+32%+8.4%
Zinc$3,599/t+30%+1.7%
Natural rubber$2.14/kg+27%−4.9%

See also every benchmark price, the pattern reports, and the price movers feed. Data: monthly.json.