(Bloomberg) -- Commodities fell to the lowest level in more than five years on signs demand growth is weakening in China, the biggest consumer of energy and metals, and on speculation U.S. borrowing costs may rise next year.
The Bloomberg Commodity Index of 22 futures dropped as much as 0.4% to 120.7641, the lowest since July 2009, before trading at 121.1555 at 10:04 a.m. in New York. The gauge has lost 3.7% in 2014 and is set for a fourth year of decline. Brent crude fell to the lowest in more than two years as corn and soybeans traded near 2010 lows.
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