November in commodity price history
8 real-price peaks and troughs have fallen in November, in any year since 1960, on the drawdowns report. This page always shows the current calendar month; for every peak and trough in date order, see the full timeline.
Iron ore: Iron ore's benchmark price reached a real (inflation-adjusted) peak in November 2007, before a 82% fall that followed, bottoming out in December 2015.
Silver: Silver's real price hit its low in November 2001, 95% below its January 1980 peak, and has not recovered since.
Cocoa: Cocoa's real price hit its low in November 2000, 93% below its July 1977 peak, and has not recovered since.
Fishmeal: Fishmeal's real price hit its low in November 2000, 67% below its November 1980 peak; it recovered by July 2007.
Peanuts: Peanuts's benchmark price reached a real (inflation-adjusted) peak in November 1980, before a 88% fall that followed, bottoming out in May 2002.
Fishmeal: Fishmeal's benchmark price reached a real (inflation-adjusted) peak in November 1980, before a 67% fall that followed, bottoming out in November 2000.
Crude oil: Crude oil's benchmark price reached a real (inflation-adjusted) peak in November 1979, before a 89% fall that followed, bottoming out in December 1998.
Sugar: Sugar's benchmark price reached a real (inflation-adjusted) peak in November 1974, before a 98% fall that followed, bottoming out in June 1985.
Method
A peak or trough is the highest or lowest point of a benchmark price in real terms (deflated by the US consumer price index to 2024 dollars) in a series with at least 20 years of history, taken from the drawdowns report. This page filters those dates to the calendar month it is November in when the site was last rebuilt, across every year in the data, so the same commodity can appear more than once if its peak and its trough both happened to fall in November. It says nothing about why a month tends to see more turning points; weather, harvest timing and demand cycles differ by commodity, and the harvest calendar and seasonal drivers are the place to look for that. Prices are monthly averages of benchmark quotes and are not investment advice.