The following are the top stories on metals, agriculture and shipping. ECONOMIC EVENTS: Forecast Prior Time (N.Y.) U. of Michigan Confidence MAR F 68.0 68.2 9:55 METAL PRICES: ($/ton) Last % Chg RSI Copper 9,742 +0.3 56 Aluminum 2,648 +0.7 63 Zinc 2,398 -0.9 51 Lead 2,679 -0.4 59 Nickel 27,195 0.0 52 Tin 31,850 +0.3 62 OTHER MARKETS: Last % Chg % YTD U.S. Dollar Index 75.791 +0.1 -4.1 Crude Oil $105.60 +0.0 +16 Gold $1,437.4 +0.5 +1.2 MSCI World Index 1,323.48 0.0 +3.4 TOP STORY: Pork Rally Fails to Spur Hog-Farm Expansion as Feed Costs Gain U.S. hog producers may be reducing breeding herds because of high feed costs, signaling a continuing rally in pork prices that are already forecast to climb more than any other food this year. COMMODITY EXCLUSIVES: Allianz Global Picks Gold, Oil to Lead Gain in Commodities (1) Gold and oil will lead gains in commodities this year as investors seek to guard against rising inflation stemming from a global economic recovery and low interest rates, according to Allianz Global Investors. Coal May Gain on Trend Channel, Fibonacci: Technical Analysis European coal may rise to $141 a metric ton, indicating an 8 percent gain to the highest level in more than two years, according to technical analysis by Sucden Financial Ltd. Danieli to Build Steel Equipment Plant in India to Meet Demand Danieli SpA, Italy’s biggest maker of equipment for steel production, plans to build a 60 million euro ($85 million) factory in India as rising demand from carmakers and builders spur steelmakers to add capacity. Salzgitter Raises Dividend 28% on Steel Price, Misses Estimate Salzgitter AG, Germany’s second-largest steelmaker, proposed a 28 percent increase in its dividend, less than analyst estimates, after demand and prices for the metal rose. Japan Nuclear Fears Prompt Jump in Sales of Green Energy Notes Sales of securities linked to renewable energy are surging as Japan’s nuclear-plant crisis prompts investors to boost bets on the profit potential of environmentally friendly power providers. MINING: African Barrick Advances in London on Nyanzaga Drill Results African Barrick Gold Plc, the biggest London-listed producer of the precious metal, rose the most in almost three months in the city after saying drill results may add “considerable value” to one of its project. Harmony Snaps Biggest Three-Day Gain in 2 Years on CEO Comment Harmony Gold Mining Ltd., Africa’s third-biggest producer of the metal, snapped its largest three-day gain in more than two years after Chief Executive Officer Graham Briggs dismissed a suggestion in an RBC Capital Markets report that the company could become a takeover target for Gold Fields Ltd. South Africa Stocks ‘Significantly Overvalued,’ Investec Says South African stocks are “significantly overvalued” after a surge in metal prices boosted companies including Anglo American Plc and BHP Billiton Plc, according to Investec Asset Management, South Africa’s largest independent money manager. BHP Approves $9.5 Billion Iron Ore, Coal Investments (2) BHP Billiton Ltd., the world’s largest mining company, approved $9.5 billion of investments to increase iron ore and coal production in Australia. Mitsui Mining Imports Zinc to Meet Sales Commitment on Quake Mitsui Mining & Smelting Co., Japan’s biggest producer of zinc, is importing the metal to meet deliveries to local customers after the massive earthquake and tsunami halted operations at its Hachinohe smelter. Riversdale Rises in Sydney on Rio Tinto Bid Condition Talk (1) Riversdale Mining Ltd., subject of a A$3.9 billion ($4 billion) takeover offer by Rio Tinto Group, rose in Sydney trading amid speculation Rio will drop a bid condition for payment of a higher price. PRECIOUS METALS: Gold, Near Record, May Gain on Libya, Debt Concern, Japan Crisis Gold, which reached a record yesterday, may climb in London as fighting in Libya, debt concerns in Europe and a nuclear crisis in Japan spur demand for an alternative investment. Silver was near a 31-year high. Gold Imports by India May Drop for Second Month, Group Says (1) Gold imports by India, the world’s biggest consumer, may plunge for a second month in March as price swings deter buyers, the Bombay Bullion Association said. AGRICULTURE: Wheat, Corn Head for Second Week of Gains on Stockpile Concern Wheat and corn rose in Chicago, heading for a second week of gains, on concern grain stockpiles may be too low to satisfy climbing demand. Russia Says Grain Export Embargo to Stay Until After Harvest (1) Russia will maintain its ban on grain exports until after this year’s harvest in September or October, Agriculture Minister Yelena Skrynnik said. Brazilian Robusta Coffee Exports Soar as Arabica Prices Climb Robusta-coffee exports from Brazil, the world’s second- largest grower of the variety, more than doubled in March’s first three weeks as roasters used more of the beans in response to climbing arabica prices. Palm Oil Declines for Fifth Day as Malaysian Inventory Climbs Palm oil dropped for the fifth day on concerns that a decline in exports from Malaysia may boost stockpiles of cooking oil in the world’s second-biggest producer. Coffee Rises on Signs of Increased Demand; Cocoa Also Advances Coffee rose for a second day in London on signs demand is still growing as some buyers may be switching to cheaper robusta beans. Cocoa gained and sugar fell. Vietnam Rubber Exports Predicted at 50,000 Tons in March (1) Vietnam, the fourth-biggest rubber exporter in 2009, may ship 50,000 metric tons this month, the General Statistics Office in Hanoi said today. Rice Exports From Vietnam Forecast at 650,000 Tons in March (1) Vietnam, the second-biggest rice exporter, may ship 650,000 metric tons in March, according to monthly data from the General Statistics Office in Hanoi. SHIPPING: Japan Ship Has ‘Higher Than Normal’ Radiation at Chinese Port A ship that had passed Japan’s Fukushima prefecture, site of a crippled nuclear-power station, had “higher than normal” amounts of radiation when inspected in China, according to operator Mitsui O.S.K. Lines Ltd. Maersk, Hapag-Lloyd Cancel Calls at Japanese Ports on Earthquake A.P. Moeller-Maersk A/S and Hapag-Lloyd AG have halted services to some Japanese ports because of the earthquake and nuclear radiation concerns. Oil-Tanker, Dry-Bulk Ship Prices to Fall, DnB NOR Markets Says Crude-oil tankers and dry-bulk commodity ships are set to sell for lower prices as swelling fleets intensify competition for cargoes, DnB NOR Markets said. ECONOMIES: Bank of China Rises as Profit Beats Estimates on Loans (1) Bank of China Ltd., the nation’s third-largest lender by market value, rose the most in nine months in Hong Kong trading after reporting full-year profit that beat analysts’ estimates on wider loan margins. HSBC Sees Dim Sum Bonds Tripling on Yuan Deposits: China Credit HSBC Holdings Plc, the top-ranked underwriter of yuan- denominated bonds issued in Hong Kong, expects sales will more than triple this year as demand surges for China’s currency outside the country. EU Cuts Future Aid Fund’s Startup Capital on German Demands (2) European Union leaders cut the startup capital for the future euro emergency aid mechanism after German demands to make smaller upfront payments stoked fresh concerns about Europe’s effort to quell the debt crisis. Oil Is Near Two-Day Low on U.S. Economy; JPMorgan Raises Brent Oil traded near a two-day low in New York as speculation of reduced demand in the U.S. outweighed concern the Libyan conflict and unrest in the Middle East will further disrupt supply. OTHER MARKETS: Stocks, U.S. Index Futures Gain on Oracle; Portugal Bonds Fall Stocks and U.S. index futures gained after forecasts at Oracle Corp. and Accenture Plc beat analysts’ estimates. Portuguese bonds fell for a fourth day following Standard & Poor’s downgrade of the country’s debt. Franc, Yen Weaken on Bets Global Recovery Will Withstand Turmoil The Swiss franc and yen dropped against their major counterparts on speculation the global economic recovery can withstand Europe’s sovereign-debt crisis and Japan’s earthquake, reducing demand for a refuge. Pound Set for Steepest Weekly Drop in Month on Recovery Concern The pound headed for its steepest weekly fall in a month in a gauge of 10 developed-nation currencies on concern the U.K.’s recovery is stalling and that the Bank of England will wait to raise interest rates. European Stocks Climb; Asian Shares, U.S. Futures Also Advance European stocks rose, sending the Stoxx Europe 600 Index heading for its best weekly performance since September. Asian shares and U.S. futures also gained. Foreigners Bought Record Japanese Stocks After Earthquake (3) Foreign investors bought a record amount of Japanese stocks last week after the nation’s equities markets tumbled in the wake of the March 11 earthquake and resulting nuclear accident. French, British Forces Strike Libyan Military as NATO Steps In French and British forces struck Muammar Qaddafi’s ground forces as NATO agreed to take command of the Libya no-fly zone without assuming responsibility for air strikes against military targets. Yemenis Plan Opposing Rallies in Defiance of Emergency Law (1) Yemenis poured into Sana’a for rallies, including soldiers who have defected to the strengthening opposition and tribesman marching in support of the government. Asian Stocks Rise as Builders Gain on Japan Quake Reconstruction Asian stocks rose, set for the biggest weekly gain since November, as construction firms gained on optimism for orders when Japan rebuilds after its worst earthquake, and amid signs the U.S. economy is strengthening. Emerging Stocks Rise, Set for Biggest Weekly Gain Since November Developing-nation stocks advanced for a sixth day, with the benchmark index set for its biggest weekly rally since November, as better-than-estimated outlooks from technology companies and a jump in Bank of China Ltd.’s earnings bolstered confidence in the global economic recovery. Hundreds Join Protest in Syrian City of Homs, Al Jazeera Says Hundreds of people joined an anti-government protest in the city of Homs in western Syria, Al Jazeera television said, citing witnesses. SPORTS: Gallas to Get 2-Year Tottenham Contract, Mirror Says: Roundup The following is a roundup of soccer stories from U.K. newspapers, with clickable links to the Web. India Survives Australia Pressure, Meets Pakistan in World Cup India’s Yuvraj Singh said his team came through “immense” pressure to depose 12-year reigning champion Australia in yesterday’s Cricket World Cup quarterfinal and set up a meeting with archrival Pakistan in the last four. To contact the editor responsible for this story: Stuart Wallace in London at swallace6@bloomberg.net

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