Corn Drops as Farmers Boost Crop Sales: Commodities at Close

The Standard & Poor’s GSCI gauge of 24 commodities was little changed at 622.4 while the UBS Bloomberg CMCI index of raw materials was steady at 1,437.154.

GRAINS, OILSEEDS

Corn fell the most in a week on speculation that farmers increased sales of this year’s expected record harvest. * Corn fell 1.5% to $4.2475/bu on CBOT * Wheat dropped 0.5% to $6.56/bu * Soybean futures were unchanged at $13.2925/bu

Grains markets: NI GRMKTS

CRUDE OIL

West Texas Intermediate declined for a third day in New York on projections that a report tomorrow will show U.S. crude inventories advanced for a 10th week. * WTI fell 0.4% to $93.68/bbl on the Nymex * Brent dropped 0.1% to $110.88/bbl on ICE

Oil markets: NI OILMARKET

OIL PRODUCTS

Ultra low sulfur diesel rose on speculation that U.S. distillate inventories slid last week to a five-year low. * Diesel advanced 0.4% to $3.0444/gal on Nymex * Gasoline rose 0.2% to $2.6869/gal

Oil markets: NI OPFMKT

NATURAL GAS

Natural gas gained for a fifth day in New York to the highest level in six weeks on expectations that a blast of arctic air across the U.S. will spur demand. * Natural gas rose 0.8 percent to $3.818/mmbtu on Nymex

Gas market: NI GASMARKET

PRECIOUS METALS

Spot gold declined for the first time in three sessions on speculation that signs of a strengthening U.S. economy will encourage the Federal Reserve to curb monetary stimulus. * Gold for immediate delivery fell 0.8% to $1,241.58/oz on Comex * Silver declined 1.8% to $19.8698/oz * Palladium slipped 0.5% to $718.45/oz on Nymex * Platinum dropped 0.4% to $1,371.90/oz

Precious metal markets: NI PCMKTS

SOFT COMMODITIES

Cotton futures rose to a one-month high on concern that severe weather will hamper the harvest in parts of the U.S., the world’s leading exporter. * Cotton gained 0.9% to 79.14c/lb on ICE * Orange-juice rose 0.1% to $1.388/lb * Cocoa futures dropped 1.2% to $2,769/mt * Arabica coffee increased 0.2% to $1.0875/lb * Sugar down 0.1% to 17.3 cts/lb

Soft commodities markets: NI SOMKTS

BASE METALS

Copper futures fell for the first time in more than a week in New York as an unexpected drop in U.S. consumer confidence added to concern that supply gains will outstrip demand. * Copper slid 0.3% to $3.219/lb on Comex * Aluminum, nickel, tin and zinc fell on the LME, while lead rose

Base metals markets: NI BMMKTS

LIVESTOCK

Cattle futures jumped the most in three months on speculation that U.S. beef demand is improving, spurring meatpackers to buy more animals. * Cattle futures advanced 0.8% to $1.33025/lb on CME * Hog futures climbed 0.7% to 90.4/lb * Feeder-cattle gained 1% to $1.64375/lb

Livestock markets: NI LVMKTS

To contact the reporter on this story: Mario Parker in Chicago at mparker22@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

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