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Raw Sugar and Natural Gas Lead Advance: Commodities at Close

The Standard & Poor’s GSCI gauge of 24 commodities climbed 0.3 percent to 652.11 at 4:49 p.m. in London. The UBS Bloomberg CMCI index of 26 raw materials was up 0.5 percent at 1,601.383.

NATURAL GAS

Natural gas futures advanced in New York for the first time in four days as forecasts showed cooler weather that may boost heating-fuel demand.

Natural gas for January delivery rose 1.5 percent to $3.636 per million British thermal units on the New York Mercantile Exchange. The futures have climbed 20 percent this year.

U.K. natural gas: NI NUKMKT Gas market: NI GASMARKET Americas natural gas: NI AGASMARKET European natural gas: NI EGASMARKET

SOFT COMMODITIES

Sugar jumped 3.1 percent on signs of declining output in India, the world’s second-biggest producer. Cocoa, coffee, orange juice and cotton gained.

Raw sugar for delivery in March climbed to 19.93 cents a pound on ICE Futures U.S. in New York. A close at that price would mark the biggest gain for a most-active contract since Nov. 19.

Cocoa futures for delivery in March advanced 0.7 percent to $2,515 a metric ton in New York.

Arabica-coffee futures for delivery in March gained 0.2 percent to $1.5095 a pound on ICE.

Orange-juice futures for January delivery increased 2.4 percent to $1.262 a pound in New York.

Cotton futures for March delivery added 0.3 percent to 74.1 cents a pound.

Soft commodities markets: NI SOMKTS

BASE METALS

Copper swung between gains and losses in New York as investors weighed signs of a revival in Chinese manufacturing against an unexpected contraction in a U.S. factory index and continuing declines in Europe.

Copper futures for delivery in March rose 0.1 percent to $3.654 a pound at 11:13 a.m. on the Comex in New York, after falling as much as 0.3 percent. The metal gained 3.1 percent last week, the most since Sept. 14.

On the LME, copper for delivery in three months climbed 0.2 percent to $8,011 a ton ($3.63 a pound).

Zinc, aluminum, tin, lead and nickel gained in London.

Base metals markets: NI BMMKTS

PRECIOUS METALS

Gold rebounded from the biggest weekly drop in more than five months as a weaker dollar boosted the appeal of the metal as an alternative investment.

Gold futures for February delivery rose 0.4 percent to $1,720.10 an ounce at 10:21 a.m. on the Comex in New York. Last week, prices tumbled 2.2 percent, the most since June 22.

Silver futures for March delivery advanced 1.6 percent to $33.81 an ounce.

Precious metal markets: NI PCMKTS

LIVESTOCK

Hog futures climbed on signs of increasing demand for U.S. pork. Cattle prices dropped.

Hog futures for February settlement rose 0.8 percent to 87.625 cents a pound at 10:31 a.m. on the Chicago Mercantile Exchange. In November, the price surged 11 percent, the most since March 2011.

Cattle futures for February delivery fell 0.2 percent to $1.30175 in Chicago.

Feeder-cattle futures for January settlement declined 0.3 percent to $1.4515 a pound.

Livestock markets: NI LVMKTS

GRAINS, OILSEEDS

Soybeans reached a three-week high and corn gained on signs that excess rain in Argentina and dry weather in Brazil will reduce yields, boosting demand prospects for supplies from the U.S., the world’s biggest exporter.

Soybean futures for January delivery climbed 1.2 percent to $14.56 a bushel at 10:13 a.m. on the Chicago Board of Trade after touching $14.6275, the highest since Nov. 9. Prices fell 7.1 percent in November, capping a three-month drop of 18 percent after rain in August and September reduced U.S. yield losses.

Corn futures for March delivery gained 0.6 percent to $7.5725 a bushel on the CBOT. The grain dropped 0.4 percent in November, the fourth straight decline, on signs of slowing demand.

Wheat futures rose for the first time in three sessions on increasing demand for supplies from the U.S., the world’s biggest exporter.

Wheat futures for March delivery gained 0.5 percent to $8.6775 a bushel at 10:34 a.m. on the Chicago Board of Trade. The price dropped 3.2 percent in the previous two sessions.

Grain markets: NI GRMKTS

OIL PRODUCTS

Heating oil and gasoline climbed as factory output in China rose to the highest level in seven months following reports last week of U.S. economic gains.

January-delivery heating oil gained 1.75 cents, or 0.6 percent, to $3.0782 a gallon at 11 a.m. on the New York Mercantile Exchange. Prices fell 0.9 percent last month.

Gasoline for January delivery advanced 1.42 cents, or 0.5 percent, to $2.7445 a gallon on the exchange. Prices were almost unchanged in October.

The average nationwide cost for regular gasoline fell 0.4 cent to $3.387 a gallon, AAA said today on its website. That’s the lowest average since July 11. The pump price reached a 2012 high of $3.936 on April 4.

Oil Products Europe: NI OPEMKT Gasoline: NI GASOLINE Heating oil: NI HEATOIL

CRUDE OIL

Crude pared gains after an index of U.S. manufacturing showed an unexpected contraction in November.

Crude for January delivery rose 19 cents to $89.10 a barrel at 11:12 a.m. on the New York Mercantile Exchange after climbing to $90.33, the highest intraday level since Oct. 22. Prices advanced 3.1 percent in November. They are down 9.8 percent this year.

Brent for January settlement decreased 20 cents, or 0.2 percent, to $111.03 a barrel on the London-based ICE Futures Europe exchange.

Oil markets: NI OILMARKET

European Carbon Permits

European Union carbon permits for December slumped 2.7 percent to 6.03 euros a metric ton on the ICE Futures Europe exchange.

EU Carbon Emissions: NI ECBMKT

To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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