Commodities Make Comeback as Bad Weather Meets China Demand
- `The situation is better than people had given credit'
- Bloomberg Commodity Index poised for best week since March
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Commodities are roaring back.
Soybeans entered a bull market Thursday on bad weather in South America, and silver crossed that threshold earlier this week. Iron ore jumped above $70 a metric ton and copper is near a one-month high on signs of improving Chinese demand. A Vietnam drought boosted coffee prices. Oil is trading near levels not seen in five months.