TORONTO _ Scotiabank says its monthly commodity price index ended 2013 on a weak note, falling 1.2 per cent from November and 6.8 per cent from December 2012 . But the bank says there are signs the overall commodity cycle will hit a bottom in early 2014. Patricia Mohr , Scotiabank's commodity market specialist, says commodities will be helped by stronger growth in the United States and economic growth in China still above seven per cent. The Scotiabank forestry subindex was one of few bright spots last year, although it lost ground in December, falling 2.1 per cent from the previous month. It ended the year up a slim 0.1 per cent. "However, prices have edged up again to US$376 in mid-January. We remain optimistic that prices will strengthen further to average US$390 in 2014 alongside a multiple-year recovery in U.S. housing starts," Scotiabank said.
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