What does Commodity Research Bureau Index (CRB) mean?
A commodity index developed by Commodity Research Bureau (CRB). It is a global benchmark for measuring commodity price movement. CRB Price Index measures of price movements of 22 representative basic commodities. The CRB is a spot market price Index; a spot price is a price at which a commodity is selling for immediate delivery.
Futures Knowledge Explains Commodity Research Bureau Index (CRB)
CRB Index was originally introduced in 1934 but its compositions have changed from time to time. Current index has base year 1967 as 100 base. On 15 May 2015, the CRB index was 430. The items within the index are classified into smaller groups- Metals, Textiles and Fibers, Livestock and Products, and Fats and Oils. CRB publishes indices also for six sub groups such as BLS Base Metal index.
The CRB indices are closely watched and followed by commodity traders and investors.