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Oil is not the only commodity that has been roaring ahead this year. Precious metals are in a major bull market as are corn, wheat, rice, and soybeans. In fact, while the fall in the dollar is part of the commodity futures bull markets story you can not get away from the fact that rapidly developing economies in a number of nations and changes in weather patterns caused by climate change are important factors in driving futures prices.

Wheat prices have staged the most drastic rise in more than 50 years, as a drought in Russia fuels growing worries that it could lead to a global shortage of the grain. Harsh heat and a lack of rain in Russia have killed half of the crop in some hard-hit areas. The slump in production in one of the world's most fertile breadbaskets has pushed prices up 62% since early June, and last month saw the biggest and fastest increase since 1959.