The Standard & Poor’s GSCI gauge of 24 commodities climbed 0.5 percent to 663.51 at 4:49 p.m. in London. The UBS Bloomberg CMCI index of 26 raw materials was up 0.7 percent at 1,625.833.
Corn futures for December delivery rose by the 40-cent limit on the Chicago Board of Trade, gaining 5.6 percent to $7.5625 a bushel and soybeans climbed 1.1 percent.
Wheat headed for the biggest gain in two weeks after a government report showed stockpiles were lower than expected in the U.S., the world’s biggest exporter, as demand climbed.
Wheat futures for December delivery jumped 2.4 percent to $8.76 a bushel on the Chicago Board of Trade. A close at that price would be the biggest gain since Sept. 14 and leave the grain up 16 percent this quarter.
Grain markets: NI GRMKTS
Gasoline rose for the fourth day in a row as refinery maintenance in the Atlantic Basin stoked concerns about supplies in New York Harbor.
Gasoline for October delivery rose 4.29 cents, or 1.4 percent, to $3.1872 a gallon at 9:03 a.m. on the New York Mercantile Exchange. Prices are up 2.6 percent for the month and 17 percent this quarter.
October-delivery heating oil rose 1.11 cents, or 0.4 percent, to $3.1684 a gallon on the exchange. Prices are little changed this month and have gained 18 percent since June.
Regular gasoline at the pump, averaged nationwide, fell 0.8 cent to $3.787 a gallon yesterday, AAA data show. Prices have fallen 13 of the past 14 days, declining 2.2 percent in that span. Prices reached a 2012 high of $3.936 on April 4.
Gasoline advanced in northwest Europe. The fuel’s crack, or premium to Brent crude, shrank.
Gasoil increased for a second day on the ICE Futures Europe exchange in London as Brent, headed for its biggest quarterly gain this year, rose above $113 a barrel. The heating fuel’s crack fell.
Gasoline barges changed hands at $1,119 a metric ton for winter grade, according to a survey of brokers and traders monitoring the Argus Bulletin Board. That compares with yesterday’s deals from $1,090 to $1,098.
Oil Products Europe: NI OPEMKT Gasoline: NI GASOLINE Heating oil: NI HEATOIL
Copper rose in New York, poised for a quarterly gain, amid speculation that China, the world’s biggest user, will announce more stimulus measures that spur economic growth and metal demand.
Copper futures for December delivery added 0.3 percent to $3.754 a pound at 9:48 a.m. on the Comex in New York. Prices have risen 8.6 percent this month.
On the London Metal Exchange, copper for delivery in three months climbed 0.7 percent to $8,236 a metric ton ($3.74 a pound).
Base metals markets: NI BMMKTS
Natural gas futures slid from a nine-month high amid forecasts of mild weather that may reduce demand for the power-plant fuel.
Natural gas for November delivery fell 2.4 cents, or 0.7 percent, to $3.273 per million British thermal units at 9:56 a.m. on the New York Mercantile Exchange. The futures have gained 16 percent this quarter, heading for a second quarterly increase, and 17 percent this month.
U.K. natural gas: NI NUKMKT Gas market: NI GASMARKET Americas natural gas: NI AGASMARKET European natural gas: NI EGASMARKET
Hog futures rebounded from the lowest price in more than a week on signs that demand for U.S. pork is increasing amid shrinking supplies. Cattle fell.
Hog futures for December settlement rose 0.1 percent to 73.65 cents a pound at 9:29 a.m. on the Chicago Mercantile Exchange, after reaching 73.4 cents, the lowest since Sept. 19. Through yesterday, the price dropped 22 percent this quarter.
Cattle futures for December delivery fell 0.4 percent to $1.24625 a pound in Chicago. Through yesterday, the commodity was up 3.9 percent this quarter.
Feeder-cattle futures for November settlement declined 1.1 percent to $1.4565 a pound.
Livestock markets: NI LVMKTS
Cotton dropped, heading for the first monthly loss since May, on signs that supplies will outpace demand as consumption wanes in China. Coffee and sugar fell, while orange juice and cocoa gained.
Cotton for December delivery declined 0.7 percent to 71.03 cents a pound at 11:15 a.m. on ICE Futures U.S. in New York. A close at that level would leave prices down 8.1 percent in September.
Also in New York, arabica-coffee futures for December delivery fell 1 percent to $1.725 a pound. Through yesterday, prices slumped 23 percent in 2012.
Raw-sugar futures for March delivery retreated 0.5 percent to 20.29 cents a pound on ICE. The sweetener dropped 12 percent this year through yesterday.
Orange-juice futures for November delivery rose 0.3 percent to $1.1475 a pound, while cocoa futures for December delivery gained 1.8 percent to $2,527 a metric ton in New York.
Soft commodities markets: NI SOMKTS
Oil headed for a second weekly loss on concern that slower economic growth will reduce demand and as the Organization of Petroleum Exporting Countries’ secretary-general said supplies are ample.
Crude for November delivery fell 6 cents to $91.79 a barrel at 11:20 a.m. on the New York Mercantile Exchange. Prices are down 1.2 percent this week and 4.9 percent this month. For the quarter, oil is up 8 percent.
Brent oil for November settlement dropped 13 cents to $111.88 a barrel on the London-based ICE Futures Europe exchange.
Oil markets: NI OILMARKET
Gold declined in New York for the second time in three days as investors awaited results of stress tests on Spanish banks.
Gold futures for December delivery fell 0.1 percent to $1,778 an ounce at 10:04 a.m. on the Comex in New York.
Silver futures for December delivery were up 0.1 percent at $34.715 an ounce on the Comex, heading for a gain of 26 percent for the quarter, the most since the end of 2010.
Precious metal markets: NI PCMKTS
European Carbon Permits
European Union carbon permits for December rose 0.1 percent to 7.87 euros a metric ton on the ICE Futures Europe exchange.
EU Carbon Emissions: NI ECBMKT