This page includes a database file along with videos that allows you to create analyses of historic commodity prices as well as commodity futures prices. Databases on commodity prices use information from the world bank and from the Chicago Mercantile Exchange (CME). The database file from the world bank is structured so that you can compare time series and analyze commodity price trends. The database file with futures prices allows you to evaluate futures prices for various different commodities including oil, natural gas, coal and electricity. I have also included VBA code to create the commodity databases where you can read the data and upload it. As with all of the databases, they are structured so that you can delete the old data and then upload new data. If you upload the data and then it does not work, please send me an e-mail at email@example.com.
Commodity prices can be very volatile, have mean reversion and be correlated with one another. The first step for analysis of assumptions related to commodity prices should therefore be gathering historic data. Sources for acquiring data include the world bank and futures markets. The world bank website includes a lot of monthly data on many commodity prices (except, unfortunately, diesel prices, petrochemical prices, petrol prices, steel prices and other prices that are from refined products). Local electricity commodity prices are also not in the database and are included in the energy analysis part of the website. The website for the world bank for the historic monthly data is below:
Commodity Price History and Forecast Database
I think there are a few sources for financial and economic data that are really good. One of the sources is the world bank data base that records and updates commodity prices called for some reason pink data. On this World Bank web site you can download monthly nominal prices since 1960 for more than 100 commodity price series. The workbook file listed below goes to the pink data part of the world bank website and updates historic commodity price data as well as forecast data published by the world bank. To update the history data you just have to press the macro button. You can download this file by pressing the button below. As with any of the databases or financial models, if you are having any issues with running and updating the program (sometimes the URLs or the formats change), you would help me by sending an e-mail to my address at firstname.lastname@example.org.
You can update the file every month or couple of months and you can use the file to perform statistical analysis of the various commodity prices. The historic data can be updated very easily by pressing the macro button. To update reading of the forecast you have to look-up the link that sometimes changes.
The file allows you to analyse historic data and compare forecast and projected data for a large series of commodity prices.
You can also find commodity price data on the FRED database. The second file goes to the FRED database and puts together a whole bunch of the commodity price series.
Commodity Price Data from the FRED Database