Top 10 Commodity Price Apps 2024

Stay ahead in the fast-moving commodity markets with these essential apps:

Bloomberg: Pro-level data, costly but comprehensive
Reuters: Global news and market insights
Trading Economics: Vast economic indicators and forecasts
CME Group: Futures trading powerhouse
Investopedia: Learn while you track prices
Vesper: AI-powered forecasts for agri-commodities
USDA ERS: Go-to for agricultural data
World Bank CPD: Global price trends and forecasts
S&P Global Platts: Energy market specialist
OPEC MOMR: Deep dive into oil markets

Quick Comparison:

App	Best For	Key Feature	Cost
Bloomberg	Pros	Real-time data	$$$$
Reuters	News hounds	Global coverage	Free/$
Trading Economics	Data lovers	Economic indicators	Free/$
CME Group	Futures traders	Largest derivatives market	Free
Investopedia	Beginners	Educational content	Free
Vesper	Ag traders	AI forecasts	$
USDA ERS	Farmers	Crop data	Free
World Bank CPD	Global view	Long-term trends	Free
S&P Global Platts	Energy focus	Price assessments	$$$
OPEC MOMR	Oil specialists	Detailed oil reports	Free/$

Choose based on your needs: Bloomberg for pros, Investopedia for newbies, OPEC MOMR for oil buffs. Remember, commodity trading is risky - educate yourself and start small.

Bloomberg

Bloomberg's commodity price app is a top pick for traders and investors in 2024. It's like having a Bloomberg Terminal in your pocket, packed with features for tracking commodity prices and market trends.

What's cool about the Bloomberg app?

Real-time commodity price data
Custom alerts for prices and news
Bloomberg's financial news and analysis
Works with Bloomberg Anywhere® for smooth workflow

The app gives you a bird's-eye view of commodity markets. You can check out forward curves that update all day, showing the latest market prices. This is gold for traders making decisions based on future price predictions.

The news feed is another standout. You can set up custom feeds with instant audio and visual alerts. As one user put it:

"Bloomberg's custom news alerts are a game-changer. No more juggling multiple sources – everything I need is right there."

But here's the catch: it's pricey. A Bloomberg terminal subscription costs $27,660 a year. That's not pocket change for most folks. But for pro traders and big institutions, the depth and quality of data can justify the cost.

Here's a quick rundown:

Pros	Cons
Loads of market data	Expensive
Real-time updates	Tricky for newbies
Custom alerts	Need a Bloomberg subscription
Works with Bloomberg Terminal	Can be info overload

If you're a commodity trader who needs the latest and most comprehensive data, Bloomberg's app is tough to beat. It's a powerhouse combo of real-time pricing, news alerts, and analysis tools for the fast-paced world of commodity trading.

2. Reuters

Reuters

Reuters' LSEG Eikon platform is a top commodity price app for 2024. It's a Bloomberg alternative that doesn't skimp on features.

What's in the box?

Real-time prices for energy, metals, agriculture, shipping, and carbon
Reuters news feed
Custom alerts
Historical data and analysis tools

The Dealerweb integration is a nice touch. It adds Treasury market coverage, making Eikon more useful for traders who look beyond commodities.

For energy and commodities traders, Eikon has some tricks up its sleeve:

Feature	What it does
City Execution	Run futures and options orders
Spread data	See and crunch spread data in-app
Integrated trading	Trade without leaving Eikon

Leigh Henson from Thomson Reuters says:

"The addition of City Execution onto Thomson Reuters Eikon exemplifies the benefits of an open platform."

Farmers get a special treat: Data Share. This app lets them swap crop data for market insights. Jeff Haas explains:

"The goal of Data Share is to create well-informed markets with greater transparency."

Now, let's talk money:

Service	Yearly Cost
LSEG Eikon (full)	$22,000
LSEG Eikon (lite)	$3,600
Bloomberg Terminal	From $30,000

Eikon's not cheap, but it's easier on the wallet than Bloomberg.

Heads up: By 2025, Eikon users will move to the new Workspace platform, built with Microsoft. Expect more updates and improvements.

Bottom line: If you need solid commodity data without breaking the bank, LSEG Eikon is worth a look. It's packed with features for energy and ag markets, making it a strong pick for 2024.

3. Trading Economics

Trading Economics

Trading Economics isn't just another commodity price tracker. It's a data powerhouse that gives you the whole economic picture.

Here's the deal:

20 million economic indicators in real-time
Data from 196 countries
Up-to-date commodity prices (as of October 3, 2024)

The commodity section? It's packed:

Feature	What You Get
Live quotes	Bid/ask prices, last traded values
Historical data	Time series charts for analysis
Forecasts	Price predictions
News feed	Latest market updates

Traders, pay attention to the CRB Commodity Index. It's up 13.29% (40.07 points) since January 2024. This benchmark helps you spot market trends.

The free version gives you:

Economic calendar
Exchange rates
Stock market indexes
Government bond yields

But here's where Trading Economics shines: alerts. Set up notifications for:

Price targets
Price changes
Record highs/lows

You'll stay in the loop without being glued to your screen.

With 380 million page views from 200+ countries, it's a global favorite. Plus, it uses official sources and checks for accuracy.

Tech requirements:

iOS 13.0+ (iPhone/iPad)
macOS 11.0+ (Mac with Apple M1 chip)

For commodity traders in 2024, Trading Economics hits the sweet spot: deep data, easy to use.

4. CME Group

CME Group

CME Group's mobile app isn't just a price tracker. It's a full trading platform in your pocket.

What's inside:

Real-time futures and options data
Access to the world's largest derivatives marketplace
Trading tools for risk management

The app covers:

Commodity	Examples
Agricultural	Corn, Wheat, Soybeans
Energy	Crude Oil, Natural Gas
Metals	Gold, Silver, Copper

CME Group's strength? Volume. In 2024, they're handling $10 trillion daily across all products. That's 95% of U.S. exchange volume.

For traders, this means deep liquidity, tight spreads, and better price discovery.

Trade 24/7 on iPhone, Android, tablets, and Apple Watch.

The CME FedWatch Tool is a standout. It shows real-time probabilities of Fed rate changes. Crucial for commodity traders.

Not just for pros. CME Group offers educational resources, including webinars from top traders.

Tech-wise, they use WebSocket API for real-time data. Faster updates, less lag.

If you're serious about commodity trading in 2024, CME Group's app is a must-have.

5. Investopedia

Investopedia

Investopedia's commodity price app is a goldmine for investors looking to dive into commodities. It's not just about tracking prices - it's your personal commodity trading tutor.

Here's what you get:

Real-time commodity price updates
A crash course in commodity trading
Tools to dissect the market

The app covers all the bases:

Commodity Type	What's Included
Metals	Gold, Silver, Copper
Energy	Crude Oil, Natural Gas
Agriculture	Corn, Wheat, Soybeans
Livestock	Cattle, Hogs

Investopedia shines in breaking down complex ideas. Ever wondered what a futures contract really is? They've got you covered.

For the newbies, there's a toolkit to help you read the market:

Spot trends
Gauge market strength
Track momentum
Analyze volume

These tools help you make smarter trades.

Here's a cool tidbit: commodities often zig when stocks zag. That's why they're great for hedging when the market gets rocky.

For the hands-on folks, the app dives into:

The ins and outs of futures contracts
How to own physical commodities
Commodity-related securities

But here's the kicker: Investopedia doesn't just show you how to trade. It teaches you how to trade smart. They hammer home the importance of reading the fine print and picking the right broker for futures trading.

Bottom line? While you can't trade directly through the app, it's your go-to guide for all things commodities in 2024.

6. Vesper

Vesper

Vesper is a standout commodity price app for 2024, focusing on dairy, sugar, oils, and fats. This Amsterdam-based platform delivers real-time data, insights, and forecasts for the agri-commodity sector.

Key features:

Spot price tracking
Historical data for trend analysis
AI-powered forecasting
Customizable alerts
User-friendly interface

Vesper's strength? Actionable intelligence. Set alerts for specific price thresholds or market conditions to make timely decisions.

Users love it:

"Vesper helps me evaluate global price indexes, mitigating potential risks for years ahead." - Robert Hazenberg, Procurement Director Direct Materials, MeadJohnson

"I use Vesper for analytics and business intelligence. It's crucial during complex retail chain negotiations." - Timm Brocks, CEO and Co-Founder, Buensol

The mobile app offers:

Sleek design
Interactive graphs
On-the-go access

Vesper covers 17 agri-commodity categories with over 4,000 price series and forecasts.

Extra features:

WhatsApp groups for updates
Direct contact with customer success managers
Webinars with analysts
Industry expert podcast (50,000+ downloads)

Launched in October 2019, Vesper has raised €5 million in seed funding and is trusted by Nestlé, Fonterra, and Unilever.

In a field where timing is everything, Vesper's mix of real-time data, AI forecasts, and user-friendly design makes it a top choice for 2024.

7. USDA Economic Research Service

The USDA Economic Research Service (ERS) is a go-to resource for tracking commodity prices in 2024. Their digital tools give ag pros key market info on demand.

The USDA Market News Mobile Application is their standout offering. Launched in 2022, it's become a must-have for producers and supply chain folks. Here's why:

Covers nearly 1,500 market reports
Easy to search by location, state, or commodity
Sends real-time notifications for new reports

Jenny Lester Moffitt, Under Secretary for Marketing and Regulatory Programs, says:

"The Market News app helps create a more level playing field for small and medium producers by delivering critical market information to them where they are, when they need it."

The app's been a hit:

Metric	Value
Downloads	14,500+
Unique Report Views	320,000+
Average Daily Views	1,400

ERS also offers the Charts of Note Mobile App. It gives you:

24/7 access to thousands of ERS charts
Easy topic filters
Options to save favorites and share

These apps work alongside other ERS resources, like the Food Price Outlook, which forecasts changes in food-related CPI and PPI.

8. World Bank Commodities Price Data

World Bank Commodities Price Data

Want to track global commodity prices in 2024? The World Bank's Commodities Price Data app is your go-to tool.

Here's what you get:

Daily updates on 234,772 observations
Monthly price refreshes
Biannual forecasts
Long-term price trends

The app covers a ton of commodities. Here's a taste:

Commodity	Price Unit
Aluminum	$/mt
Bananas	$/kg
Coffee (Arabica)	$/kg
Copper	$/mt
Cotton	$/kg

In April 2024, the World Bank's Commodity Market Outlook (CMO) dropped some news: global commodity prices are leveling out after a big dip. Why does this matter? It's key for understanding market trends and how they affect inflation and central bank decisions.

The app also includes the Manufacture Unit Value Index (MUV). It's updated twice a year and gives you a snapshot of manufacturing trends.

Heads up: a new interactive dashboard is in the works. It'll make the data even easier to use and understand.

Bottom line: if you're in the commodity market game, this app is a must-have for reliable price data and forecasts.

9. S&P Global Platts

S&P Global Platts' Dimensions Pro app is a game-changer for commodity market pros in 2024. It's packed with data and insights to help you track and analyze commodity prices on the go.

Here's what you get:

Real-time updates on 15,000+ daily price assessments
Breaking news alerts
Custom notifications for price changes
Advanced charting tools
Offline access to critical info

The app covers energy, metals, agriculture, and petrochemicals. It syncs with Platts Connect, so you can switch between desktop and mobile without missing a beat.

"Platts Connect reimagines how we deliver world-leading content to unlock more value for our customers." - Saugata Saha, President, S&P Global Commodity Insights

You can personalize your workspace with custom widgets and report libraries. Apple users get extra perks like Apple Watch compatibility and home screen widgets.

While the app is free to download, you'll need a subscription to S&P Global Commodity Insights. For commodity pros, it's an investment that can lead to smarter, faster decisions in a fast-paced market.

10. OPEC Monthly Oil Market Report

OPEC Monthly Oil Market Report

The OPEC Monthly Oil Market Report (MOMR) app is a game-changer for oil industry pros in 2024. It's packed with global oil market info, from supply and demand to price forecasts.

Here's what you get:

Real-time oil market updates
Interactive price trend charts
25+ years of historical data
Deep dives into world oil demand and supply
Breakdown of oil market trend drivers

The app's slick design makes data navigation a breeze. You'll find quick info on:

OECD oil stocks
Non-OPEC supply
OPEC natural gas liquids

And here's a cool feature: Excel exports. Since February 2019, you can download key tables in Excel. Talk about a time-saver for data crunching!

Who needs this app? Oil traders, energy analysts, policy makers, and researchers, to name a few.

The app's free to download, but you'll need a subscription for the full report. Worth it? If you're in oil and gas, absolutely. It's your ticket to smarter decisions in a rollercoaster market.

"We're always looking to make our analysis more user-friendly", says an OPEC rep.

Need help? OPEC's got your back with a dedicated email: dataqueries@opec.org.

Bottom line: In the fast-paced world of oil trading, the OPEC MOMR app is your secret weapon for staying ahead of market trends.

App Comparison

Let's break down the top 10 commodity price apps for 2024:

App Name	Best For	Key Features	Pricing
Bloomberg	Pro traders	Real-time data, news, analytics	Subscription
Reuters	News junkies	Global news, market data	Free + premium
Trading Economics	Data nerds	Live quotes, forecasts, charts	Free + paid
CME Group	Futures traders	Futures and options data	Free
Investopedia	Newbies	Educational content, market data	Free
Vesper	Customizers	Personalized watchlists, alerts	Free + purchases
USDA ERS	Ag focus	Crop and livestock data	Free
World Bank CPD	Global view	Long-term price trends	Free
S&P Global Platts	Energy buffs	Specialized energy data	Subscription
OPEC MOMR	Oil specialists	Detailed oil market reports	Free app, paid report

Standout features? Trading Economics gives you live bid/ask quotes and forecasts. OPEC MOMR lets you export Excel tables. Vesper's got interactive charts with zoom.

Pricing's all over the map. Vesper's $8.99/year for no ads. TD Ameritrade? $2.25 per futures contract. tastytrade goes as low as $0.25 per contract.

One Vesper user said:

"Performs exceptionally but there's a few basic commodities that need to be added (diesel fuel, etc) to help procurement professionals track markets in real time."

Bottom line: Pick based on your needs. Oil focus? Try OPEC MOMR. Want a bit of everything? Trading Economics or Vesper might be your jam.

Wrap-up

Mobile apps have revolutionized commodity price tracking. Our top 10 list shows there's an app for everyone, from newbies to pros.

Here's what we've learned:

Apps range from Bloomberg's high-end tools to Investopedia's beginner-friendly platform
You'll find free options like CME Group and paid services like S&P Global Platts
Some apps specialize: USDA ERS for agriculture, OPEC MOMR for oil markets

What's next? Expect more AI and machine learning in these apps. Public's AI insights are just the beginning.

But remember, commodity trading isn't risk-free. Sandra Cho, CEO of Pointwealth Capital Management, says:

"Commodities can serve as a hedge during high inflationary times."

Yet, look at these stats:

Platform	Retail Investor Accounts Losing Money
Plus500	82%
eToro	51%

Ouch. That's why education is key.

Want to try? Here's how:

Use a demo account first (eToro has one)
Compare fees (Plus500: $0.49 per Micro contract, eToro: spread-based)
Don't put all your eggs in one basket

As tech reshapes commodity trading, pick your tools wisely and stay informed. It's your best bet in this tricky market.

FAQs

Can you trade commodities online?

Yes, you can trade commodities online. Here's what you need to know:

Commodities are physical assets like crops, metals, and energy sources. To start, open an account with a platform that offers commodity trading.

In the US, the CFTC regulates commodity trading apps. When choosing a platform, look for:

Real-time market data
Good analytical tools
Easy execution
User-friendly interface
Fair fees
Solid customer support

Tips for beginners:

Use a demo account first
Start with commodity CFDs
Pick a regulated broker
Have a risk management plan

Top 10 Commodity Price Apps 2024

Bloomberg

2. Reuters

3. Trading Economics

4. CME Group

5. Investopedia

6. Vesper

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7. USDA Economic Research Service

8. World Bank Commodities Price Data

9. S&P Global Platts

10. OPEC Monthly Oil Market Report

App Comparison

Wrap-up

FAQs

Can you trade commodities online?