Commodities entered a bull market, gaining 21 percent from a June low, as grain prices surged following the most-severe U.S. drought in half a century.
The Standard & Poor’s GSCI Spot Index of 24 raw materials rose 0.9 percent to settle at 675.55 yesterday in New York. The gauge has jumped from this year’s lowest close of 559 on June 21. A gain of more than 20 percent is the common definition of a bull market………………………………………..Full Article: Source