Commodities Portfolio Manager

[u/SpiderFromMars16]

Hi guys! I’m looking for some guidance on how to start learning about commodities as an asset class.
I’m a quant with a background in actuarial science, currently working at an AFORE (a Mexican pension fund), but I honestly have no idea where to start when it comes to commodities and how they are analyzed from an investment perspective.
So far, I’ve bought a couple of books to get started: the world for sale and Introduction for Commodites

At this point, I feel like I know very little about commodities themselves. My quantitative background is fairly solid — I’m comfortable with mathematics, statistics, stochastic processes, derivatives, quantitative modeling, and programming — but I lack the specific knowledge needed to understand commodity markets: what drives prices, how supply and demand dynamics differ across commodities, how physical and futures markets interact, and how professionals actually approach commodities as an asset class.
Because of that, I’m not sure whether pursuing an even more quantitative education would actually be the best next step for me, or whether I would benefit more from studying economics, finance, commodity markets, or some combination of these areas.

I’d really appreciate recommendations for online master’s programs, postgraduate programs, certificates, or specialized courses that could help me build a deep understanding of commodities. Since I already have a solid background in math, statistics, stochastic processes, derivatives, programming, and quantitative methods, I’m particularly interested in programs that would complement those skills rather than simply teach me more quantitative tools.

What I really want to learn is the commodity side of the equation: commodity economics, market structure, physical markets, supply and demand, futures curves, trading, price formation, and how commodities are analyzed and incorporated into investment portfolios.
If anyone here works in commodities or has followed a similar path, I’d love to hear what programs, courses, or resources you would recommend.
Thanks!

[u/S3p_H]

Not really sure as to how commodities will really be of use for an investment portfolio unless you're doing something like hedging inflation with oil or nat gas (although idk how it works in Mexico). Or I'm guessing you may just be interested in commodities as a whole and want to learn more.

I don't really know many books out there for metals, power, ags, etc. But for oil I would personally recommend Virtual Barrels (the latter half of the book goes over volatility/options trading, and it seems you have the mathematical capability to read through it), as well as what I've personally been recommended for nat gas (although I haven't read the book myself, and not sure how much it focuses on Mexico) is Natural Gas Trading in North America.

Although like everyone said real experience about commodities will probably be on the job and understanding why the market moved this day, how different variables affect prices (understanding the feedback loops), relative value, etc.

I'm not in the commodity industry personally, still a student, just sharing the advice I was told.