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JPMorgan Beat Goldman in Commodities Revenue Last Year

JPMorgan Chase & Co. leapfrogged Goldman Sachs Group Inc. last year to be the largest bank in raw materials revenue before announcing the $3.5 billion sale of its physical commodities business.

Goldman, which earned the most money from raw materials among the top 10 investment banks in 2012, ranked second last year and Morgan Stanley was third, London-based analytics company Coalition said in a report e-mailed today.