In accordance with its published methodology, Standard & Poor's announced today the weightings for each of the 17 commodities found in the S&P Commodity Index (SPCI). Weightings have changed for each of the commodities and will remain fixed in the index for one year. The changes will be implemented at the close of trading on February 8, 2002.
The individual commodity weightings are based on a two-year average of commercial open interest, as identified in the Commodities Futures Trading Commission's (CFTC) Commitment of Trader Reports, which is further adjusted to remove the "double counting" of upstream commodities (i.e, Crude Oil) from the downstream commodities (i.e, Heating Oil and Unleaded Gas).
| New Weights | |
|---|---|
|
Wheat |
6.286% |
|
Corn |
4.973% |
|
Soybeans |
3.061% |
|
Bean Meal |
2.812% |
|
Bean Oil |
2.932% |
|
Live Cattle |
7.787% |
|
Lean Hogs |
2.132% |
|
Copper |
3.876% |
|
Silver |
2.799% |
|
Cocoa |
2.900% |
|
Sugar |
4.065% |
|
Coffee |
3.802% |
|
Cotton |
4.405% |
| Crude Oil | 6.549% |
|
Heat Oil |
13.305% |
|
Unl Gas |
10.670% |
|
Nat Gas |
17.647% |
The SPCI has futures and options contracts which trade on the New York Board of Trade from 9:40am EST to 4:00pm EST. End-of-day index values and index history are available through both the S&P Index Services website at www.spglobal.com/ indexmaincommodity.html and NYBOT's Website at www.nybot.com. The SPCI is calculated every 15 seconds and is available through traditional real-time quote vendors via the NYBOT; the ticker symbol is ' I '.
