Far fewer commodities registered higher prices in August, according to the latest ISM Manufacturing Report on Business (ROB) released on Sept. 2. Coming off a rough July when not a single material got any cheaper, August saw natural gas retreating from a nine-month run up while corn prices finally dropped after moving up every month since the April report.
"When the price of oil has fallen by more than 20%, and other commodities from steel and aluminum to corn and wheat have all fallen in price significantly, it represents a cushion for the economy. It is one of the few supports that we have right now."
-- Sung Won Sohn, an economist at California State University in the Washington Post on Aug. 21.
Commodities Down In Price
Copper Corn Diesel Fuel* Fuel Oil Natural Gas Soybean Oil
Commodities In Short Supply
Caustic Soda (6)
Note: The number of consecutive months the commodity is listed is indicated after each item.
*Reported as both up and down in price
Source: August 2008 Manufacturing ISM Report on Business
