Commodity prices have surged recently. In the six weeks from April 20 to June 5, corn futures jumped 20.3 percent, from $3.69 to $4.44 per bushel; wheat is up 23.6 percent, from $5.04 to $6.23; coffee futures grew 20.7 percent from $1.11 to $1.34 per pound; and crude oil is up a whopping 49.2 percent from $45.88 to $68.44 per barrel. Crude-oil prices are now more than double the low of $33.98 set in February. How is this possible at the bottom of the worst recession since the 1930s?Several ...
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