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Citigroup’s Morse Says Commodities Drop Hasn’t Hit Bottom

Ed Morse, Citigroup Inc.’s global head of commodities research, said the worst slump in commodities prices in a generation isn’t over.

“I think we are not at the bottom because we are still seeing consistent cost deflation,” Morse said Saturday at a meeting of the Institute of International Finance in Lima, Peru.

The Bloomberg Commodity Index on Sept. 30 capped its worst quarterly loss...