Market-specific influences are evident in the significant differences in price behavior across individual commodities, which often can be traced to idiosyncratic supply and demand factors. Aggregate influences are suggested by the fact that the prices of several major classes of commodities, including energy, metals, and grains, have all shown broad-based gains in recent years.
Nothing can ever be taken for granted in these matters; there is continuing uncertainty about the future stance of US trade policy and the consequent possibility of a global shift towards protectionism, which would curb demand and might cause tensions at international level. However, for the time being at least, the economic forecasts are positive.