In a week when the US dollar strengthened and the 2-year US Treasury yield rose, agricultural and energy commodity prices still climbed on the back of supply concerns. In the case of agriculturals, those relate to Russia pulling out of the Black Sea Grain Initiative and India announcing a rice export ban. And in the case of energy, they relate to the ongoing oil supply cuts by OPEC+ countries. Meanwhile, industrial metal prices mostly fell, even though China announced some new fiscal stimulus.
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