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Commodity Prices Sinking to 52-Year Low
Commodity prices are bracing for their worst month in 52 years as global demand continues to slide.
The Reuters/Jefferies CRB Index – a measure of 19 global commodities from light crude to lean hogs – fell 24% in October, Bloomberg reports.
"October is at last ending – the worst month in commodity history," Eugen Weinberg, an analyst at Commerzbank AG in Frankfurt, told Bloomberg. "Investors are expecting lower growth for the longer term and that is putting prices under pressure."
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