Oil, Corn Lead Commodity Losses; S&P 500 Caps Weekly Drop

Oil and corn led a retreat in commodities while U.S. stocks capped the worst weekly loss since August. The yen rebounded after touching a five-year low while Treasuries advanced.

Oil slipped 0.9 percent to a 10-day low of $96.60 a barrel after falling demand boosted fuel inventories. Corn slid 2 percent to lead the S&P GSCI Index to a third day of losses and natural gas dropped from a two-year high. The Standard & Poor’s 500 Index slipped less than 0.1 percent, closing at a one-month low and posting a 1.6 percent loss for the week. The yen climbed 0.2 percent to 103.17 per dollar after reaching 103.92, the weakest level since October 2008. Ten-year Treasury yields fell one basis point to 2.87 percent after two days of gains.