The following are the top stories on metals, agriculture and shipping. *T ECONOMIC EVENTS, AGRICULTURE REPORTS: Forecast Prior Time (N.Y.) USDA Cattle Slaughter AUG 19 129000 14:00 USDA Hog Slaughter AUG 19 412000 14:00 Cattle on Feed-Feedlots YOY% JUL 7.5% 3.8% 15:00 Cattle on Feed-Marketing YOY% JUL -3.7% 5.3% 15:00 Cattle on Feed-Placements YOY% JUL 15.0% 4.1% 15:00 Metal Prices: ($/ton) Last %Chg RSI Copper $8,780 +0.1 36 Aluminum $2,335 -0.1 29 Zinc $2,172.50 -0.3 38 Lead $2,306 +0.2 35 Nickel $21,300 0.0 36 Tin $22,800 +0.2 32 Other Markets: Last %Chg %YTD U.S. Dollar Index 74.304 +0.1 -6.0 Crude Oil $80.62 -2.1 -11.8 Gold $1,849.15 +1.4 +30.0 MSCI World Index $1,142.91 -0.4 -10.7 TOP STORY: Commodities Set for Fourth Weekly Loss as Gold Reaches Record Commodities dropped, heading for a fourth weekly loss, as oil and grains tumbled on concern slower economic growth will weaken demand. Gold advanced to a record for the second day as investors sought a haven. COMMODITY EXCLUSIVES: Vietnam May Release Rice Reserve to Cool Record Local Price (1) Vietnam, the world’s second-largest rice exporter, may release grain held in government stockpiles to cool the local market after a surge in export demand helped to drive domestic prices to a record. Asian Agri Fund Eyes Peru Palm Oil as Malaysia Runs Out of Land Asian Agri Capital, a Singapore private-equity firm that focuses on early-stage plantations, is seeking to raise $100 million to invest in palm oil and other tropical commodities in Southeast Asia and Latin America. INDUSTRIAL METALS: Copper Gains as Chinese Investors Buy Amid Tight Global Supplies Copper climbed in London as buyers in China, the largest consumer, took advantage of recent price declines to rebuild stockpiles amid expectations for a global supply deficit. Aluminum also gained. Japan Copper Cable Shipments Decline on Yen, Slowing Economy (1) Japan’s copper wire and cable shipments slumped 7.5 percent in July from a year earlier as the country’s economic growth slowed and the strengthening yen weighed the outlook for exports, an industry group said. MINING: Fortescue CEO Says Tight Credit ‘Cooling’ China Iron Ore Demand Fortescue Metals Group Ltd., Australia’s third-biggest producer of iron ore, said tighter credit conditions in China have slowed orders from steel mills. Vale to Spend $875 Million on Coking Coal Mine With Aquila (1) Vale SA, the world’s biggest iron ore exporter, approved spending $875 million to pay its share in the Eagle Downs coal project in Queensland it owns with equal joint venture partner Aquila Resources Ltd. BHP Least Risky in Two Years as Profit Jumps: Australia Credit BHP Billiton Ltd.’s credit-default swaps are Australia’s best performers this year as slower growth at home and abroad boosts the allure of a company forecast by analysts to report record annual profit next week. PRECIOUS METALS: Gold Jumps to Record, Set for Longest Weekly Rally Since 2007 Gold climbed to an all-time high and was poised for its longest weekly winning streak since April 2007 as escalating concern that the global economy is slowing sent equities and commodities lower, spurring demand for a haven. Spot Platinum, Platinum Futures Climb to Highest Since May Spot platinum gained as much as 0.3 percent to $1,849.38 an ounce, the highest price since May. October-delivery futures in New York rose as much as 0.2 percent to $1,850.50 an ounce, also the highest level since May. AGRICULTURE: Rubber Plunges Most in More Than One Week on Growth Concerns Rubber declined for a fourth day, tumbling the most in more than a week, amid concerns that a global economic slowdown may reduce demand for the commodity used to make tires and gloves. Palm Oil Drops as Global Economic Growth Concern Weakens Demand Palm oil declined, joining a slump in commodities from oil to grains, on deepening concern that a slowing global economy may reduce demand for the tropical commodity used in food and fuel. Japan Confirms First Case of Rice Contamination, Ministry Says Brown rice from Ibaraki prefecture was found to contain 52 becquerels per kilogram of radioactive cesium, the first discovery in Japan’s rice crop after the March earthquake and tsunami crippled the Fukushima nuclear power plant, farm ministry spokesman Yuichi Matsuda said today. The government’s limit for cesium in grains is 500 becquerels per kilogram. Vietnam May Release Rice Stockpiles to Cool Record Local Prices Vietnam, the world’s second-largest rice exporter, may release grain held in government stockpiles to cool the local market after a surge in export demand helped to drive domestic prices to a record. Corn, Soybeans Drop on Growth Risk, Decline in U.S. Export Sales Corn fell, extending its biggest decline yesterday in more than a week, on concern that slowing economic growth would trim demand and as U.S. exports fell from a year ago. Soybeans and wheat dropped for a second day. Palm Oil Drops as Global Economic Growth Concerns Weaken Demand Palm oil declined, paring a weekly gain, on deepening concern that a slowing global economy may reduce demand for the tropical commodity used in food and fuel. Indonesia May Keep Palm Oil Shipment Tax at 15%, Halim Says Indonesia may keep the tax rate on palm oil exports unchanged at 15 percent in September and leave the base price for calculating the levy unchanged at $1,017 per metric ton, Steaven Halim, second secretary at the Indonesian Palm Oil Association, said in an e-mail. Corn, Soybeans Drop on Concern Slowing Economies May Cut Demand Corn extended a decline by the most in more than a week on concern that slowing global economic growth could trim demand for the grain. Soybeans and wheat dropped for a second day. ECONOMIES: Hidden Money From Hong Kong Undermining Loan Curbs: China Credit Chinese companies are borrowing record amounts from Hong Kong’s banks as the central government tries to bring the inflation rate down from a three-year high by reducing access to credit. Noda Pledges to Do His ‘Utmost’ to Alleviate Strong Yen Risk Japanese Finance Minister Yoshihiko Noda said currency- market intervention needs to surprise and he’s ready to act to stem gains in the yen that could derail an export-led recovery. U.S. GDP Growth Estimates Cut at Citigroup on Fiscal Concern (1) The U.S. economy may expand less than previously forecast in 2011 and 2012 because of potential “political paralysis” and fiscal tightening steps, Citigroup Inc. wrote in a report. Italy, Spain Can ‘Probably’ Survive Crisis, Krugman Says (2) Italy and Spain are at an increased risk of exiting the euro as European leaders grapple with how to contain the region’s sovereign debt crisis, Nobel economics laureate Paul Krugman said. OTHER MARKETS: Asian Stocks, Oil Drop on Growth Concern; Treasuries, Gold Gain Asian stocks slumped, dragging the region’s benchmark index to a fourth weekly loss, while oil led commodities lower amid concern the U.S. recovery is faltering and Europe’s debt crisis will spread. Bonds and credit-default risk climbed, while gold rallied to a record. Dollar, Yen Gain on Slowing Growth, European Contagion Concern The dollar and yen advanced against most of their major counterparts as Asian stocks extended a worldwide rout in equities amid speculation European banks lack sufficient capital. Oil Set for Fourth Weekly Drop as Brent Spread Widens to Record Oil fell in New York, heading for a fourth weekly drop, as investors bet fuel demand will falter amid signs of weaker growth in the world’s biggest crude consumers. Brent traded at a record premium to U.S. prices. To contact the reporter on this story: Chanyaporn Chanjaroen in London at cchanjaroen@bloomberg.net To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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