Cocoa Is Biggest Gainer as Lead Declines: Commodities at Close

The Standard & Poor’s GSCI gauge of 24 commodities was up less than 0.1 percent to 646.98 at 5:06 p.m. in London. The UBS Bloomberg CMCI index of 26 raw materials was down less than 0.1 percent at 1,566.74.

SOFT COMMODITIES

Raw sugar and coffee rose on speculation that investment funds that track commodity indexes will increase their holdings. Cocoa jumped 2.1 percent

Raw sugar for March delivery gained 0.7 percent to 18.98 cents a pound on ICE Futures U.S. in New York. The price tumbled 16 percent last year.

Arabica-coffee futures for March delivery rose 2.1 percent to $1.5045 a pound on ICE, heading for the second straight advance.

Cotton futures for March delivery climbed 0.1 percent to 75.12 cents a pound.

Orange-juice futures for March delivery gained 1.3 percent to $1.144 a pound.

Soft commodities markets: NI SOMKTS

BASE METALS

Copper dropped for a third straight session in New York on concern that demand will slump as U.S. lawmakers struggle to reach agreement on a debt ceiling and economies in Europe sputter. Lead slumped 1.3 percent in London.

Copper futures for delivery in March retreated 0.5 percent to $3.676 a pound on the Comex in New York. The metal fell 1.1 percent in the previous two sessions, after the Federal Reserve signaled it plans to end asset purchases aimed at spurring U.S. economic growth sometime this year.

On the London Metal Exchange, copper for delivery in three months slipped 0.1 percent to $8,074 a metric ton ($3.66 a pound).

Zinc and nickel slid in London while tin and aluminum rose.

Base metals markets: NI BMMKTS

PRECIOUS METALS

Gold futures declined for the third straight session on signs that Federal Reserve policy makers may end monthly purchases of U.S. debt this year.

Gold futures for February delivery fell 0.1 percent to $1,647.20 an ounce at 9:42 a.m. on the Comex in New York. On Jan. 4, the price touched $1,626, the lowest for a most-active contract since Aug. 21. Last week, the metal dropped 0.4 percent, the sixth straight decline. In the previous two sessions, the commodity slumped 2.4 percent.

Precious metal markets: NI PCMKTS

NATURAL GAS

Natural gas futures advanced for a second day in New York on speculation that colder weather will help erode a surplus of the heating fuel.

Natural gas for February delivery gained 4.4 cents, or 1.3 percent, to $3.331 per million British thermal units at 10:59 a.m. on the New York Mercantile Exchange. Trading volume was 46 percent below the 100-day average. Gas prices have risen 8.8 percent from a year ago.

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

GRAINS, OILSEEDS

Corn rose from a six-month low and soybeans advanced the most in two weeks on speculation that U.S. reserves fell to the lowest in nine years.

Corn futures for March delivery gained 0.3 percent to $6.82 a bushel at 10:19 a.m. on the Chicago Board of Trade after touching $6.78, the lowest since July 3. The price reached a record $8.49 on Aug. 10 after drought cut U.S. production to a six-year low.

Soybean futures for March delivery climbed 0.1 percent to $13.6825 a bushel in Chicago. The most-active futures touched a six-month low at $13.56 on Jan. 4. Wheat climbed 0.2 percent to $7.4875 a bushel.

Grain markets: NI GRMKTS

CRUDE OIL

Oil fluctuated amid concern that Congress will fail to raise the U.S. debt ceiling, hurting economic confidence, and on speculation that supplies in the world’s biggest crude-consuming country will rebound.

Crude oil for February delivery rose 6 cents to $93.15 a barrel at 11:07 a.m. on the New York Mercantile Exchange. Prices are down 8.3 percent from this point last year. Trading volume was 25 percent below the 100-day average.

Brent oil for February settlement slipped 3 cents to $111.28 a barrel on the London-based ICE Futures Europe exchange. Brent volume was 15 percent above the 100-day average.

Oil markets: NI OILMARKET

OIL PRODUCTS

Gasoline futures rose, reversing an earlier decline, after Phillips 66’s Bayway refinery in New Jersey reported flaring over the weekend.

Gasoline futures rose 0.74 cent, or 0.3 percent, to $2.7717 a gallon at 11:20 a.m. on the Nymex.

Heating oil for February delivery rose 1.66 cents, or 0.6 percent, to $3.0343 a gallon on the Nymex.

Gasoline at the pump, averaged nationwide, fell 0.2 cent to $3.297 a gallon, AAA said on its website today.

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

LIVESTOCK

Hog futures climbed on signs of increasing U.S. meatpacker demand for animals. Cattle prices rose.

Hog futures for February settlement rose 0.3 percent to 86.525 cents a pound at 10:20 a.m. on the Chicago Mercantile Exchange. Last week, the price dropped 0.2 percent, the second straight decline.

Cattle futures for February delivery gained 0.1 percent to $1.33125 a pound. Last week, the commodity declined 0.5 percent, the first drop since Nov. 30.

Feeder-cattle futures for March settlement fell 0.2 percent to $1.5605 a pound.

Livestock markets: NI LVMKTS

European Carbon Permits

European Union carbon permits for December 2013 jumped 5.1 percent to 6.66 euros a metric ton, the first increase since Dec. 20.

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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