Gerson Freitas Jr
and Joe Deaux
Commodities jumped to their highest in almost a decade as a rebound in the world’s largest economies stokes demand for metals, food and energy, while poor weather harms crops and transportation bottlenecks curb supplies.
The Bloomberg Commodity Spot Index, which tracks prices for 23 raw materials, rose 0.8% Tuesday to its highest since 2011. The gauge has climbed more than 70% since reaching a four-year low in March of last year.