Best Commodity Forecasting Tools: Top 12 for 2025

What is a Commodity Forecasting Tool?

A commodity forecasting tool is a platform that analyzes market trends, historical data, and external factors to provide predictions on price movements, supply and demand, market volatility, and production forecasts. These tools empower businesses, traders, and policymakers to make informed decisions, optimize operations, manage risks, and navigate the complexities of global commodity markets.

We thoroughly evaluated a wide range of commodity forecasting tools on the market to compile this list of the best forecasting tools for commodities. Read on to learn more.

1. Octopusbot

Octopusbot is transforming the grain and oilseed industry with AI-driven forecasts boasting 97% accuracy up to six months ahead. Tailored for growers, traders, brokers, exporters, and financial institutions, it empowers users to make smarter, data-driven decisions, maximize profits, and mitigate risks in volatile markets.

Key Features:

• • Regional AI Forecasts with Global Coverage

• • Global Supply and Demand Estimates

• • Best Accuracy Weather Forecasts

• • Price Sensitivity Scenarios

• • Customizable dashboard with all global market data in one place

Benefits:

• • Maximize profits with 97% accurate forecasts, six months ahead of the market.

• • Make smarter, data-driven decisions through accurate data on price fluctuations, weather impact, and supply forecasts.

• • Mitigate risks and navigate market volatility with confidence through 100% data driven forecasts. 

• • Regional and global coverage helps anticipate changes in local markets while understanding broader global shifts.

• • Quantify impact of weather and world events.

2. ChAI

ChAI utilizes artificial intelligence to provide raw material market intelligence offering commodity pricing forecasts and insurance solutions.

Key Features:

• • AI-powered commodity price forecasting.

• • Market intelligence across metals, energies, plastics, and agriculture.

• • Web application for easy access to forecasts.

• • Insurance offerings to protect against raw material price changes.

• • Objective analysis using machine learning techniques.

Benefits:

• • Focuses on mitigating supply chain risks.

• • Covers diverse industries, from metals to agriculture.

• • Tailored models adapt to specific business contexts.

• • Includes geopolitical factors for a holistic market view.

• • Offers straightforward and accessible insights.

3. Vesper

Vesper is a commodity intelligence platform that provides comprehensive pricing data, market reports, and AI-driven forecasts focusing on user-friendly access to information.

Key Features:

• • Extensive coverage of over 1,900 products, including agricultural commodities.

• • AI-powered price forecasting models.

• • User-friendly interface with a ChatGPT-powered assistant, Vesbot.

• • Access to daily and weekly commodity pricing.

• • Mobile application for on-the-go data access.

Benefits:

• • Strong focus on sustainability and eco-friendly strategies.

• • Ideal for companies in the food and agriculture sector.

• • Provides user-friendly access to complex market data.

• • Supports long-term planning with reliable forecasts.

• • Broad coverage of global agricultural markets.

4. USDA Economic Research Service (ERS)

The USDA ERS conducts market analysis and provides short- and long-term projections of U.S. and world agricultural production, consumption, and trade.

Key Features:

• • Detailed agricultural commodity data and statistics.

• • Policy-driven economic analysis.

• • Access to historical data trends.

• • Regular market outlook reports on farm conditions and specific commodities.

• • Integration of data from various federal and international statistical agencies.

Benefits:

• • Ideal for policy and academic research.

• • Covers U.S. agricultural market trends in detail.

• • Access to trusted, government-sourced data.

• • Free and open access to a wealth of resources.

• • Includes long-term outlooks for planning.

5. World Bank

The World Bank provides comprehensive analyses and forecasts of global commodity markets, including energy, metals, and agriculture, to inform policy and investment decisions.

Key Features:

• • Global economic outlook reports.

• • Analysis of commodity price trends and their impact on development.

• • Historical and forecasted data for multiple sectors.

• • Coverage of energy, metals, agriculture, and more.

• • Trusted global economic analysis.

Benefits:

• • Comprehensive coverage of global commodities.

• • Focus on development and poverty alleviation impacts.

• • Provides macroeconomic context for commodity data.

• • Trusted by policymakers and economists.

• • Free and widely accessible resources.

6. Bloomberg

Bloomberg is a leader in financial data and analytics offering robust tools for monitoring commodity markets alongside broader financial and economic insights.

Key Features:

• • Real-time data and analytics for commodities.

• • Integration with Bloomberg Terminal for financial insights.

• • Customizable dashboards and alerts.

• • Coverage of global energy, metals, and agriculture markets.

• • Comprehensive industry news and analysis.

Benefits:

• • Trusted platform for financial professionals.

• • Integrates commodity data with broader market analysis.

• • Offers customizable tools for enhanced usability.

• • Real-time updates ensure timely decisions.

• • Combines data with actionable news insights.

7. OPEC (Organization of the Petroleum Exporting Countries)

OPEC specializes in energy market insights, offering in-depth analysis and forecasts for oil and gas markets worldwide.

Key Features:

• • Dedicated oil market forecasts and analyses.

• • Regular publication of energy outlook reports.

• • Insights into supply, demand, and price trends.

• • Focused research on renewable energy transitions.

• • Access to OPEC’s Monthly Oil Market Report.

Benefits:

• • Highly specialized in oil and energy markets.

• • Focuses on both traditional and renewable energy.

• • Provides actionable insights for energy professionals.

• • Access to detailed supply-demand forecasts.

• • Regular updates on global energy trends.

8. Trading Economics

Trading Economics provides data and forecasts for a wide range of economic indicators, including commodities, giving users a complete picture of global market dynamics.

Key Features:

• • Broad economic indicator coverage, including commodities.

• • Real-time data and historical trends.

• • Tools for custom charting and analysis.

• • Global market insights across sectors.

• • Alerts for key market movements.

Benefits:

• • Broad coverage of global economic indicators.

• • Offers customization for specific data needs.

• • Includes historical and real-time data.

• • Affordable and accessible for small businesses.

• • User-friendly with exportable tools.

9. Reuters

Reuters is a trusted source of market news, including comprehensive coverage and analysis of commodity prices and trends worldwide.

Key Features:

• • Real-time commodity market news and updates.

• • Global data coverage for energy, metals, and agriculture.

• • Expert analysis of market-moving events.

• • Customizable alerts for breaking news.

• • Easy integration with other tools and platforms.

Benefits:

• • Extensive global coverage of commodity news.

• • Provides real-time updates for quick decisions.

• • Trusted by financial and industry professionals.

• • Easy integration with existing tools.

• • Focus on breaking and market-moving news.

10. S&P Global Platts

S&P Global Platts delivers market analysis and pricing information across energy and commodity markets, trusted by professionals worldwide.

Key Features:

• • Benchmark pricing data for commodities.

• • Industry analysis with regional insights.

• • Energy market-specific tools and forecasts.

• • Focused reports on supply and demand dynamics.

• • Extensive historical and forecasted data.

Benefits:

• • Industry-standard pricing and analysis.

• • Focus on supply-demand trends in energy markets.

• • Trusted by leading corporations and institutions.

• • Offers detailed regional insights.

• • Comprehensive data coverage across commodities.

11. CME Group

CME Group is one of the largest derivatives exchanges, offering extensive futures and options contracts for commodities, along with tools for forecasting and analyzing market trends.
Futures and options trading for energy, metals, and agriculture commodities.

Key Features

• • Real-time price data and analytics tools.

• • Interactive charting and historical trend analysis.

• • Risk management solutions for hedging commodity exposure.

• • Educational resources for traders and analysts.

Benefits:

• • Leading platform for derivatives trading.

• • Real-time market insights and updates.

• • Supports hedging and risk mitigation.

• • Educational resources for all user levels.

• • Broad commodity sector coverage.

12. Investopedia

Investopedia is an educational platform that provides detailed guides, tutorials, and insights into commodity markets and forecasting tools, catering to beginners and professionals alike.

Key Features:

• • Comprehensive educational resources on commodity forecasting and trading.

• • Tutorials on technical and fundamental analysis.

• • Market analysis tools for beginners.

• • Glossary and detailed explanations of financial terms.

• • Up-to-date market news and trends.

Benefits:

• • Perfect for beginners and educational purposes.
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  • Simplifies complex market concepts.
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  • Includes a wide variety of learning tools.
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  • Accessible and free resources.
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  • Regularly updated with current trends.