16.03.2015 - Commodities Decline Near ‘Exhaustion’ as Hackett Says Buy Rice
The commodities fall is near “exhaustion” with wheat, rice and coffee set to rebound, according to Shawn Hackett, president of Hackett Financial Advisors in Florida. The Bloomberg Commodity Index of 22 raw materials closed on Friday at the lowest level since August 2002, capping an almost 30 percent decline in the past year. Wheat dropped 25 percent in the past 12 months and rice fell 30 percent. Arabica coffee slipped 37 percent as Brazil’s weak real currency encouraged exports, adding to supplies. “For speculators wheat and rice are the two markets that are the ones to buy given that both have the lowest supplies relative to global demand,” Hackett said in an e-mailed report on Saturday...............................................Full Article: Source
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