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Posted AT 7:28 AM EST on 24/07/08

Commodities losing altitude

DAVID PARKINSON

dparkinson@globeandmail.com

Did anyone hear a "pop"? Or at least a loud "hiss"?The alarming leak of air from the wildly inflated commodity market continued yesterday, with the Commodity Research Bureau index of global commodity prices shedding another 1.7 per cent, its seventh decline in the past eight trading sessions. The index is now down 13 per cent from its record high, hit a mere three weeks ago. The oil complex, which led the climb to the record, is leading the descent.

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