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Material world

机译:物质世界

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As oil prices touched $89 a barrel this week, the temptation was to seek an explanation in geopolitics. Many cited a potential incursion by Turkish soldiers into northern Iraq. Some believed gold's rise to a 27-year high was driven by the same factor. But the commodities market is being affected by a lot more than just events in the Middle East. Prices of raw materials are seeing widespread gains as talk of a "supercycle" is in the air. Copper, lead, soya-beans, wheat, cotton, coffee, cocoa and feeder cattle have all registered double-digit percentage gains this year. Some of these gains can be traced back to the rise in oil prices. The planned substitution of ethanol for petrol encouraged corn planting, which took acreage away from crops like soyabeans and led to a surge in prices. Higher livestock prices can, in turn, be explained by higher grain costs.
机译:随着本周油价触及每桶89美元,人们的诱惑是寻求地缘政治的解释。许多人提到土耳其士兵可能入侵伊拉克北部。一些人认为,金价上涨至27年高点是由于同样的因素。但是商品市场不仅受到中东事件的影响。随着有关“超级周期”的讨论日渐临近,原材料的价格正在普遍上涨。铜,铅,大豆,小麦,棉花,咖啡,可可和饲养牛今年都取得了两位数的百分比增长。其中一些收益可以追溯到石油价格上涨。计划用乙醇代替汽油鼓励了玉米播种,这使大豆等农作物的种植面积减少,并导致价格飙升。反过来,较高的牲畜价格可以用较高的谷物成本来解释。

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