The Standard & Poor’s GSCI Spot Index of 24 raw materials fell 1.2 percent to close at 652.01 at 3:50 p.m. in New York, led by cocoa and crude oil. The UBS Bloomberg CMCI index of 26 prices dropped 0.6 percent to 1,561.87. CRUDE OIL Oil fell to a one-month low as Chinese manufacturing contracted and negotiations to resolve Greece’s debt crisis entered a third day, fanning concern that Europe’s economy will slow. The preliminary January reading of a Chinese purchasing managers’ index showed that manufacturing declined for a third month. The euro fell against the dollar as talks in Athens on debt swaps resumed. Oil futures for February delivery dropped 1.9 percent to $98.46 a barrel on the New York Mercantile Exchange, the lowest settlement since Dec. 20. Brent oil for March settlement fell 1.5 percent $109.86 a barrel on the London-based ICE Futures Europe exchange. Royal Dutch Shell Plc sold North Sea Forties crude at a higher price than yesterday. China International United Petroleum & Chemical Corp. failed to buy Russian Urals blend. Indian Oil Corp., the nation’s largest refiner, bought 1 million barrels each of Nigerian Qua Iboe and EA grades for loading in March via a tender, four traders who participate in the market said. BASE METALS Copper futures fell the most in two weeks as a gauge signaled manufacturing may contract for the third straight month in China, the world’s biggest user of industrial metals. On the Comex in New York, copper futures for March delivery dropped 1.5 percent to $3.745 a pound, the biggest drop for a most-active contract since Jan. 4. Earlier, the price reached $3.834, the highest since Sept. 19. The metal, up 3 percent this week, has gained 9 percent in January. On the London Metal Exchange, copper for delivery in three months declined 1.7 percent to $8,220 a metric ton ($3.73 a pound). Aluminum, zinc and tin also fell in London. Nickel and lead rose. OIL PRODUCTS Gasoline fell the most in a week after U.S. demand slid to a 10-year low and Greek debt concerns mounted, spurring speculation that European fuel demand will wane. On the Nymex, gasoline futures for February delivery fell 1.1 percent to $2.7844 a gallon, the biggest drop since Jan. 12. Heating oil for February delivery declined 1.6 percent to $2.9884 a gallon. GRAINS, OILSEEDS Soybean futures fell for the first time in a week on speculation that rain in South America will boost crop conditions and spur more planting. Wheat and corn rose to one- week highs as export demand climbed. Soybean futures for March delivery declined 0.8 percent to $11.87 bushel on the Chicago Board of Trade, the first drop for a most-active contract since Jan. 13. This week, the oilseed rose 2.5 percent. Corn futures for March delivery rose 0.9 percent to $6.115 a bushel. Earlier, the price reached $6.1375, the highest since Jan. 13. The grain climbed 2 percent this week. Wheat futures for March delivery climbed 0.8 percent to $6.105 a bushel. Earlier, the price reached $6.13, the highest since Jan. 12. The grain advanced 1.4 percent this week. PRECIOUS METALS Gold rose for the third time in four days on signs of increased demand for coins and jewelry. On the Comex, gold futures for February delivery rose 0.6 percent to $1,664 an ounce. The price climbed 2.2 percent this week, the third straight gain. Silver futures for March delivery jumped 3.8 percent to $31.675 an ounce on the Comex. Earlier, the price reached $31.90, the highest since Dec. 13. This week, the metal surged 7.3 percent, the most since October. On the Nymex, platinum futures for April delivery climbed 0.9 percent to $1,532 an ounce. Palladium futures for March delivery fell 0.4 percent to $675.70 an ounce. NATURAL GAS Natural gas rose for the first time in two weeks as snow and freezing rain moved over the central and northeastern U.S. On the Nymex, gas futures for February delivery rose 0.9 percent to $2.343 per million British thermal units. Earlier, the price touched $2.283, the lowest since Feb. 26, 2002. U.K. gas for next month advanced amid speculation that falling temperatures may bolster heating demand. The price gained as much as 1.05 pence to 54.05 pence a therm. It was at 53.65 pence at 4:30 p.m. in London, according to broker data compiled by Bloomberg. That’s equal to $8.33 per million Btu. A therm is 100,000 Btu. SOFT COMMODITIES Orange-juice futures surged to a record on mounting concern that U.S. supplies may be reduced by citrus-greening disease in Texas and a slowdown in imports as the government tests for a banned fungicide. On ICE Futures U.S. in New York, orange juice for March delivery climbed by the exchange limit of 10 cents, or 5 percent, to a settle at $2.1065 a pound, the highest ever. The price has surged 25 percent in January, heading for the biggest monthly rally since October 2009. The previous all-time high for a most-active contract was $2.094 on Dec. 7, 2006. Raw-sugar futures for March delivery rose 1.1 percent to 24.89 cents a pound. Earlier, the price reached 24.98 cents, the highest since Nov. 15. Cocoa futures for March delivery fell 2.6 percent to $2,259 a metric ton. Arabica-coffee futures for March delivery slid 0.6 percent to $2.254 a pound. Cotton futures for March delivery rose 0.4 percent to 98.6 cents a pound. LIVESTOCK Hog prices dropped to a one-week low on signs of increasing supplies of pork and slowing demand. On the Chicago Mercantile Exchange, hog futures for April settlement declined 0.5 percent to 87.05 cents a pound. Earlier, the price touched 87 cents, the lowest since Jan. 13. Cattle futures for April delivery fell 0.1 percent to $1.27725 a pound. Earlier, the price reached $1.29325, the highest for a most-active contract since the commodity began trading on the CME in 1964. Feeder-cattle futures for March settlement dropped 0.1 percent to $1.5385 a pound. Earlier, the price climbed to a record $1.55275. To contact the reporter on this story: Patrick McKiernan in New York at pmckiernan@bloomberg.net To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net

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