In 1957, the Commodity Research Bureau created the CRB index to track the dynamic movement of international commodity trends. This index has been sporadically adjusted to account for changes in the markets, regulations, structure. There have been 10 amendments made to the index: 1961, 1967, 1967, 1971, 1973, 1974, 1983, 1987, 1992, 1995, and 2005.
The time between the 1995 and the 2005 revisions was the longest period between changes since the creation of the index. The 2005 changes included a name change to the Reuters/Jefferies CRB Index, a four-tiered group system to replace the former weighing system, and a change in the commodities tracked. Throughout the year, commodities such as eggs, lard, rubber, potatoes, and wool were removed from the index and were replaced by more liquid and significant contracts.
Today, the index is still widely recognized as the chief measure of the global commodity market. The index is influenced by four groups of commodities which include 19 commodities from the food and fober, metals, energies, grains and livestock sectors (all are products of the NYMEX, CBOT, LME, CME, or COMEX.)
To learn more about the Reuters/Jefferies CRB Index Index please visit: Jefferies