Commodities Stage Comeback, Leaving Oil Behind

Focus may be on volatile oil prices right now, but investors shouldn’t overlook the strong performance in other commodities, one expert warns.

Ten commodities were in backwardation this month, a sign that markets outside of oil are recovering, according to a recent note from S&P Dow Jones Indices: copper, corn, cocoa, silver, coffee, live cattle, feeder cattle, heating oil, Kansas wheat, and lean hogs.

Backwardation occurs when the present spot price of a commodity is higher than the futures price, typically signaling a surge in demand and shortages in supply.

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