CRB Index Moves Away from 2-Month Lows

The CRB Commodity Index stood at around 295, moving away from the 2-month lows of 281 touched on May 31st amid a weaker dollar, gains in the industrial sector, and hopes for more economic stimulus from China.

Copper, considered a barometer for the world's economy, rebounded to nearly $3.8 per pound, as declining inventories indicated a tighter market.

Meanwhile, in the precious metals group, gold returned to $1,930 and in energy sector, WTI crude rose above the $73 per barrel mark, following supply cuts by top crude exporters.

Agricultural commodities, which account for more than 40% of the index, remained close to the bottoms touched at the end of June, as prices for corn, sugar and coffee prices fell on easing concerns about tight supply.

On the other hand, orange juice cost reached a new historical high.