Agent skill

Commodities

by JoelLewis in JoelLewis/finance_skills

Analyze commodity markets including futures curve dynamics, roll yield, and supply/demand fundamentals.

MITAuto-check passedBusiness, Finance & HR

Install Commodities

skills CLI
$ npx skills add JoelLewis/finance_skills --skill commodities -a claude-code

Project install by default; add -g for ~/.claude/skills/.

GitHub CLI
$ gh skill install JoelLewis/finance_skills commodities --agent claude-code

Project scope by default; add --scope user for a personal install. Needs GitHub CLI 2.90.0 or later (public preview).

Manual copy
$ git clone --depth 1 https://github.com/JoelLewis/finance_skills.git skills-src && mkdir -p .claude/skills && cp -r skills-src/plugins/wealth-management/skills/commodities .claude/skills/commodities && rm -rf skills-src

Use ~/.claude/skills/ instead of .claude/skills for a personal install. The folder must contain SKILL.md.

Claude Code skills documentation · loads skills from .claude/skills/

Facts

Skill name
commodities
GitHub stars
205
Token cost
~1.9k tokens
SKILL.md length
885 words
Files
2 (incl. scripts)
Skills in repo
91
Repo updated
First seen
Licence
MIT

At a glance

Analyze commodity markets including futures curve dynamics, roll yield, and supply/demand fundamentals.

  • Works in 3 steps: Spot return: Change in the spot price of… → Roll yield: Gain or loss from rolling… → Collateral yield: Interest earned on the…
  • The user asks about commodity investing
  • SKILL.md covers Core Concepts, Key Formulas, Worked Examples and Common Pitfalls, plus 2 more sections
  • Runs Python scripts from its folder; calls uv, python3 and python

What it does

Commodities is an agent skill from JoelLewis/finance_skills. Analyze commodity markets including futures curve dynamics, roll yield, and supply/demand fundamentals. Use when the user asks about commodity investing, commodity ETFs, contango, backwardation, roll yield, commodity indices (GSCI, BCOM), or commodities as an inflation hedge. Also trigger when users mention 'oil prices', 'gold as a safe haven', 'agricultural futures', 'convenience yield', 'storage costs', 'natural gas', 'copper demand', or ask why commodity ETF returns differ from spot price changes.

Its SKILL.md is about 1.9k tokens, which your agent loads only when the skill is triggered. The skill folder holds 2 other files, including scripts (for example `scripts/commodities.py`).

It sits in Business, Finance & HR, covering Stock and market analysis. The repository describes itself as: Claude Code skill plugins for financial services — 81 skills across 7 domain plugins covering investment management, compliance, advisory practice, trading, and operations. The licence is MIT.

When your agent uses it

  • The user asks about commodity investing
  • Commodity indices (GSCI
  • Commodities as an inflation hedge
  • Users mention oil prices

Example prompts

  • “oil prices”
  • “gold as a safe haven”
  • “agricultural futures”
  • “/commodities”

Requirements

  • Python 3

Workflow steps

3 steps, taken from the first numbered list in SKILL.md.

  1. Spot return: Change in the spot price of the commodity
  2. Roll yield: Gain or loss from rolling expiring futures into the next contract
  3. Collateral yield: Interest earned on the margin/collateral posted to hold futures positions

What it can do on your machine

Read from SKILL.md and the folder at commit 5c498ea. It shows what the files ask for, not the result of running them.

  • Tool permissions

    Pre-approves nothing: there is no allowed-tools line, so your agent's usual permission prompts apply.

    From allowed-tools in the SKILL.md frontmatter.

  • Runs code

    Ships 1 file in scripts/ (Python), which the agent can run.

    Shell commands in SKILL.md call:

    • uv
    • python3
    • python

    From the folder's file list and the shell code blocks in SKILL.md.

  • Network

    No URLs in SKILL.md. Its commands use uv, which can reach the network depending on how they are called.

    From URLs in SKILL.md, links to its own repository left out.

  • Credentials

    Names no API keys, tokens, secrets or passwords.

    From names ending in _API_KEY, _TOKEN, _SECRET, _KEY or _PASSWORD in SKILL.md.

Context cost

Commodities loads about 1.9k tokens when it runs. Until then it costs about 129 tokens; SKILL.md has 885 words of instructions outside code blocks.

Always · name and description, kept in context so the agent knows when to use it
~129
When it runs · the whole SKILL.md, loaded when a task matches
~1.9k

Estimates: characters ÷ 4, the usual rule of thumb; real counts depend on the model's tokenizer. Scripts and assets cost tokens only if the agent reads them.

Safety

Auto-check passed

The automated check found no risky patterns in SKILL.md.

Automated static check — not a guarantee. Review scripts before installing. It scans the text of SKILL.md for risky patterns (piping downloads into a shell, reading credential files, hidden Unicode, destructive commands); the scripts in this folder are not scanned.

SKILL.md

The full file from JoelLewis/finance_skills at commit 5c498ea, republished under its MIT licence (© JoelLewis). 885 words, ~1,879 tokens.

Download SKILL.mdSave it as .claude/skills/commodities/SKILL.md (or your agent's skills folder). This skill also uses 1 other file; get the full folder from GitHub.
name
commodities
description
Analyze commodity markets including futures curve dynamics, roll yield, and supply/demand fundamentals. Use when the user asks about commodity investing, commodity ETFs, contango, backwardation, roll yield, commodity indices (GSCI, BCOM), or commodities as an inflation hedge. Also trigger when users mention 'oil prices', 'gold as a safe haven', 'agricultural futures', 'convenience yield', 'storage costs', 'natural gas', 'copper demand', or ask why commodity ETF returns differ from spot price changes.

Commodities

Core Concepts

Spot vs Futures Pricing

The futures price is related to the spot price through the cost-of-carry model:

F = S × e^((r + u - y) × t)

where S = spot price, r = risk-free rate, u = storage cost, y = convenience yield, t = time to expiration. The convenience yield represents the benefit of holding the physical commodity (e.g., avoiding production shutdowns).

Contango

When F > S, the futures curve is upward-sloping. Storage costs and financing costs exceed the convenience yield. Contango creates negative roll yield because investors must sell cheaper expiring contracts and buy more expensive later contracts. Contango is common in well-supplied markets and for storable commodities like oil and natural gas.

Backwardation

When F < S, the futures curve is downward-sloping. The convenience yield exceeds storage and financing costs, often due to near-term supply scarcity. Backwardation creates positive roll yield because investors sell expensive expiring contracts and buy cheaper later contracts. Backwardation is common in tight supply environments.

Sources of Commodity Return

Total commodity return has three components:

  1. Spot return: Change in the spot price of the commodity
  2. Roll yield: Gain or loss from rolling expiring futures into the next contract
  3. Collateral yield: Interest earned on the margin/collateral posted to hold futures positions

Total Return = Spot Return + Roll Yield + Collateral Yield

Roll Yield

The gain or loss realized when an expiring futures contract is replaced by a longer-dated contract. In contango (upward curve), roll yield is negative. In backwardation (downward curve), roll yield is positive. Roll yield can be a significant drag or boost to total returns — in deep contango, roll yield can eliminate or even exceed spot price gains.

Commodity Sectors
  • Energy: crude oil, natural gas, gasoline, heating oil — largest sector by production value
  • Precious metals: gold, silver, platinum, palladium — safe haven and industrial uses
  • Industrial metals: copper, aluminum, zinc, nickel — tied to global economic activity
  • Agriculture: corn, wheat, soybeans, coffee, sugar, cotton — weather and harvest dependent
  • Livestock: live cattle, lean hogs — demand-driven
Commodity Indices
  • S&P GSCI: production-weighted, heavily tilted toward energy (~60%+ as of 2024-2025; weights are rebalanced annually, so check the current composition). Represents global commodity production.
  • Bloomberg Commodity Index (BCOM): diversified with sector caps (33%) and single commodity caps (15%). More balanced exposure.
  • Index construction affects returns significantly — energy-heavy indices behave very differently from diversified indices.
Inflation Hedge Properties

Commodities tend to correlate positively with unexpected inflation, making them a potential hedge. The mechanism is direct: rising commodity prices are a component of inflation. However, the hedge is imperfect and works better for supply-driven inflation than demand-driven or monetary inflation.

Seasonality

Agricultural commodities show harvest-related patterns (supply increases at harvest, depressing prices). Energy shows heating/cooling demand patterns (natural gas peaks in winter, gasoline in summer driving season). Seasonality is well-known and partially priced in, but seasonal patterns can still affect futures curve shape.

Key Formulas

FormulaExpressionUse Case
Cost of CarryF = S × e^((r+u-y)×t)Theoretical futures price
Roll Yield (approx)(F_near - F_far) / F_nearReturn from contract rolling
Total ReturnSpot Return + Roll Yield + Collateral YieldComplete commodity return
Annualized Roll Yield((F_near/F_far)^(365/days_between) - 1)Annualized roll impact
Convenience Yieldy = r + u - (1/t) × ln(F/S)Implied convenience yield

Worked Examples

Show full SKILL.md (362 more words)Show less
Example 1: Roll Yield in Contango

Given: Front month crude oil futures at $50, next month at $52 (contango), 1-month roll period Calculate: Annualized roll yield Solution: Monthly roll yield = (F_near - F_far) / F_near = ($50 - $52) / $50 = -4.0% This is a 1-month loss of 4.0%. Annualized roll yield ≈ -4.0% × 12 = -48% (simple annualization) Compounded over 12 monthly rolls: (50/52)^12 - 1 = (0.9615)^12 - 1 = -37.5% Using the day-count formula above with a 30-day roll: (50/52)^(365/30) - 1 = -37.9%

This illustrates how severe contango can create enormous roll yield drag. In practice, front-to-second-month contango is rarely this steep, but the example shows why curve shape matters enormously for commodity investors.

Example 2: Total Return Decomposition for a Commodity ETF

Given: Over one year, spot crude oil rises from $70 to $77 (+10%). Roll yield = -6%. Collateral yield (T-bill rate) = 5%. Calculate: Total return of a futures-based commodity ETF Solution: Total Return = Spot Return + Roll Yield + Collateral Yield Total Return = 10% + (-6%) + 5% = 9%

Despite a 10% spot price increase, the futures-based investor earned only 9% due to 6% roll yield drag, partially offset by 5% collateral yield. A physical holder (no roll cost, no collateral yield) would have earned 10%.

Common Pitfalls

  • Confusing spot returns with futures-based returns — most investors access commodities through futures, where roll yield matters
  • Ignoring roll yield drag in contango markets — contango can erode returns substantially over time
  • Commodity ETFs track futures, not spot prices — ETF returns can diverge significantly from spot price movements
  • Storage costs matter for physical but not financial investors — financial investors face roll yield, not storage costs

Cross-References

  • historical-risk (wealth-management plugin): return and risk measurement basics
  • real-assets (wealth-management plugin): physical and collectible commodity ownership (bullion, farmland, timberland). Division of labor: this skill owns gold accessed via futures and the gold-as-safe-haven allocation question; real-assets owns physical/collectible gold ownership and storage
  • currencies-and-fx (wealth-management plugin): commodity currency relationships
  • asset-allocation (wealth-management plugin): commodities as a portfolio diversifier

Running the Script

bash
uv run scripts/commodities.py            # run the demo (uses PEP 723 inline deps)
uv run scripts/commodities.py --verify   # check demo outputs against the worked examples (exit 1 on mismatch)
python3 scripts/commodities.py            # alternative (requires: pip install numpy)

The demo prints the calculations covered above; its values match the worked examples in this skill. Run --help for a list of the classes and functions. For programmatic use, import the module rather than running it — the demo only executes under python commodities.py.

© JoelLewis, MIT. Rendered from Markdown: HTML in the file is shown as text, images as links, and headings moved down two levels. Raw file

Files

SKILL.md and 1 other file (scripts) in plugins/wealth-management/skills/commodities of JoelLewis/finance_skills.

  • SKILL.md
  • scripts/commodities.py

Open the folder on GitHubat commit 5c498ea

Compare with similar skills

Commodities next to the 5 skills that share the most tags, products or categories with it. Stars are the repository's; “used in” counts other GitHub owners with a copy.

Commodities compared with similar skills
SkillStarsUsed inTokensAuto-checkLicenceRepo updated
Commodities this skillJoelLewis/finance_skills205—~1.9kAutomated safety check: PassMIT
Stock APIzhangxiangliang/stock-api2k—~507Automated safety check: PassMIT
Tushare Datazillionare/zillionare3182 repos~2.3kAutomated safety check: PassNone
Tradingview MCPatilaahmettaner/tradingview-mcp4.9k—~1.3kAutomated safety check: PassMIT
Digital Oraclekomako-workshop/digital-oracle867—~5.9kAutomated safety check: PassMIT
Longbridge Researchhelsome/folio2693 repos~2.1kAutomated safety check: PassMIT

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Questions about Commodities

What does Commodities do?

Analyze commodity markets including futures curve dynamics, roll yield, and supply/demand fundamentals. Commodities is an agent skill from JoelLewis/finance_skills. Analyze commodity markets including futures curve dynamics, roll yield, and supply/demand fundamentals.

When should I use Commodities?

Commodities fits situations like: the user asks about commodity investing; commodity indices (GSCI; commodities as an inflation hedge; users mention oil prices.

How do I install Commodities in Claude Code?

Run `npx skills add JoelLewis/finance_skills --skill commodities -a claude-code`. Or copy the skill folder (plugins/wealth-management/skills/commodities in JoelLewis/finance_skills) into .claude/skills/commodities in your project. Claude Code loads it when a task matches its description.

How do I install Commodities in Codex?

Run `npx skills add JoelLewis/finance_skills --skill commodities -a codex`. Or copy the skill folder (plugins/wealth-management/skills/commodities in JoelLewis/finance_skills) into .agents/skills/commodities in your project. Codex loads it when a task matches its description.

Can I use Commodities in Cursor, Gemini CLI or GitHub Copilot?

Cursor, Gemini CLI, GitHub Copilot and OpenCode also load SKILL.md folders. With the skills CLI, run `npx skills add JoelLewis/finance_skills --skill commodities -a cursor` (or -a gemini-cli, github-copilot or opencode for the others). To copy it by hand, put the folder in .cursor/skills/commodities, .gemini/skills/commodities, .github/skills/commodities and .opencode/skills/commodities in your project.

What does Commodities need to run?

Going by SKILL.md and its folder, Commodities needs Python for the scripts in its folder and the command-line tools its instructions call (uv, python3 and python). Our summary lists: Python 3.

Does Commodities access the network?

SKILL.md contains no URLs. Its commands use uv, which can reach the network depending on how they are called. This is read from the text; nothing was executed.

Is Commodities safe to install?

Our automated static check of SKILL.md found no risky patterns, such as piping downloads into a shell, reading credential files or hidden Unicode. It is not a guarantee. The check reads SKILL.md only: the scripts in the folder are not scanned, so read them before running anything.

What licence does Commodities use?

Commodities is published under the MIT licence (the repository's licence). It allows redistribution, so the full SKILL.md is shown on this page.

How many tokens does Commodities use?

About 1.9k tokens (SKILL.md is roughly 7.5k characters). Agents keep only the skill's name and description in context until a task matches; then they load SKILL.md in full.

What are the alternatives to Commodities?

Skills that share tags, products or a category with Commodities: Stock API (zhangxiangliang/stock-api, 2k stars), Tushare Data (zillionare/zillionare, 318 stars), Tradingview MCP (atilaahmettaner/tradingview-mcp, 4.9k stars) and Digital Oracle (komako-workshop/digital-oracle, 867 stars). The comparison table on this page puts their stars, adoption, token cost, safety result and licence side by side.

Who maintains Commodities?

JoelLewis (a GitHub user) maintains it in JoelLewis/finance_skills, which has 205 GitHub stars. The repository holds 91 skills in this directory. The repository was last updated on July 18, 2026.

Source: JoelLewis/finance_skills on GitHub. Facts on this page come from the repository at the commit we read; the author's words are quoted as theirs.