Commodities may rebound from their first retreat in three yearsas developing economies shore up global growth, driving demandhigher at a time when raw-material producers are already strugglingto keep up.

Precious metals will advance 27 percent or more, industrialmetals at least 17 percent and grains 5 percent, according to themedian estimates in a Bloomberg survey of 143 analysts, traders andinvestors. Nine of the 15 commodities covered by a similar survey ayear earlier reached their predicted highs in 2011, with anotherfive no more than 4 percent away.

The Standard & Poor's GSCI Total Return Index of 24 rawmaterials rose 16 percent through April, before tumbling 15 percenton mounting concern that Europe's debt crisis and slower Chinesegrowth would curb demand for commodities. A 6.1 percent expansionin developing economies this year will help sustain global growthat 4 percent, above the average over the past decade, theInternational Monetary Fund predicts.