The following are the top stories on metals, agriculture and shipping. ECONOMIC EVENTS: Forecast Prior Time (N.Y.) Initial Jobless Claims NOV 13 441K 435K 8:30 Continuing Claims NOV 6 4295K 4301K 8:30 Mortgage Delinquencies 3Q 9.85% 10:00 MBA Mortgage Foreclosures 3Q 4.57% 10:00 Leading Indicators OCT 0.5% 0.3% 10:00 Philadelphia Fed. NOV 5.0 1.0 10:00 RPX Composite 28dy YoY SEP -2.68% 16:00 USDA Export Sale Report NOV 11 8:30 METAL PRICES: ($/ton) Last % Chg RSI Copper 8,350 +2.0 49 Aluminum 2,287 +0.5 41 Zinc 2,171 +2.7 37 Lead 2,332 +3.0 42 Nickel 21,990 +2.0 41 Tin 25,300 +2.2 46 OTHER MARKETS: Last % Chg % YTD U.S. Dollar Index 78.517 -0.7 +4.4 Crude Oil $81.65 +1.5 +2.6 Gold $1,356.4 +1.5 +18 MSCI World Index 1,224.93 +0.9 +4.6 TOP STORY: Copper Rises for Second Day as Dollar Weakens on Irish Talks Copper rose for a second day in London as the dollar weakened, spurring demand for commodities as an alternative investment, on the prospect of a European Union-led bailout for Ireland. COMMODITY EXCLUSIVES: Illovo Seeks Acquisitions, Pipeline of 2-3 Candidates (Update1) Illovo Sugar Ltd., Africa’s biggest producer of the commodity, plans to expand through acquisitions by keeping a pipeline of two or three possible projects, buying plants to modernize and picking up assets sold by governments. JBS Bonds in Worst Week Since July on BNDES Fee: Brazil Credit Bonds sold by JBS SA, the world’s largest beef producer, are posting the worst week since they were sold in July after Brazil’s national development bank penalized the company $300 million for delaying a U.S. share offering. Russia May Export 15 Million Tons of Grain in 2011/2012 Season Russia will resume grain exports in the next marketing year, the country’s Grain Union said. India’s Sugar Production May Lag Behind Estimates (Update1) Sugar production in India, the world’s second-largest, may be 8.7 percent less than predicted as rain, pests and disease reduce yields in Uttar Pradesh, the biggest cane-growing state. DSM Chief Seeks Purchases in Personal-Care Chemicals (Update1) Royal DSM NV, the world’s largest maker of vitamins, plans to branch out into personal-care chemicals with purchases and factory expansions to tap demand for moisturizer ingredients. Record Russia Earnings Making Cheapest Stocks Cheaper (Update1) Russian stocks, the cheapest worldwide, are getting cheaper after the nation’s companies posted record profits that topped analysts’ estimates by the widest margin in emerging markets. INDUSTRIAL METALS: Glencore Profit Increases 43% on Metal Price Gains (Update1) Glencore International AG, the world’s largest commodity trader, posted its best quarterly profit since the start of the global recession in 2008, boosting earnings 43 percent after metal prices rose. China Sells Less Than Half of Lead Offered in Auction (Update1) China, the world’s largest lead consumer and producer, sold less than half of the metal on offer from state reserves as a high floor price and remote storage locations may have deterred buyers. MINING: Walter Energy Bids C$3.3 Billion to Buy Western Coal (Update2) Walter Energy Inc., a southern Appalachia producer of steelmaking coal, offered to buy Canada’s Western Coal Corp. for C$3.3 billion ($3.2 billion) to increase access to the commodity as rising demand drives up prices. Atlas in Talks With BHP to Access Iron Ore Railroad (Update3) Atlas Iron Ltd., an Australian iron ore producer, is in talks to use one of BHP Billiton Ltd.’s railroads in the Pilbara region to transport the steelmaking raw material to port. PRECIOUS METALS: Gold Climbs for First Day in Five on Weaker Dollar, Price Slump Gold climbed for the first time in five days in London, ending the longest losing streak since July, as a weaker dollar boosted demand for an alternative investment. Silver May Top $30 Next Year on Investment Demand, GFMS Says Silver probably will top $30 an ounce in 2011, a gain of at least 17 percent, on demand by investors seeking a store of value, GFMS Ltd. said. AGRICULTURE: Malaysia Has Little Room for Palm Oil Expansion, Minister Says Malaysia’s limited room for expanding palm oil cultivation means that industry growth will have to come from improving productivity, its plantation minister said. Soybeans, Corn Climb on Concern Global Cereal Harvests to Shrink Soybeans rose the most in seven sessions and corn gained on speculation global production will decline and demand will rise. China’s Soy, Corn Demand to Increase, Macquarie Says (Update1) Soybean and corn demand from China will gain even as the country imposes monetary-tightening measures because imports of raw materials will be needed to curb food inflation, according to Macquarie Bank Ltd. Germany’s BDSI Wants Non-Quota Sugar to Stay in European Union The European Union should keep non-quota sugar within its borders, and not export it, the Association of the German Confectionery Industry, or BDSI, said. China DDGS Demand May Rise to Over 10 Million Tons (Update1) China’s demand for dried distillers’ grains and solubles, a by-product of turning corn into ethanol, may rise to more than 10 million metric tons per year in the future, an executive at Cofco Ltd. said today. Sugar Gains as Survey Shows Indian Production May Miss Estimates Sugar rose for a second day in London and New York on concern about global supply after a survey showed output may be lower than estimated in India, the world’s second-biggest producer. ECONOMIES: Yuan’s Hong Kong Premium Shrinks 77% on HKMA Swap: China Credit The premium paid for yuan in Hong Kong shrank 77 percent in the past month as monetary authorities made more of the currency available to ease a shortage. China Rate-Increase Odds Higher on Inflation Risk, Aviva Says China may raise interest rates twice before the end of the year and tolerate currency appreciation to slow inflation from a two-year high, according to Aviva Investors, a unit of the U.K.’s second-largest insurer. China to Cut 2011 New Loan Target, Bernstein Says (Update1) China’s banking regulator may limit new lending to 6.6 trillion yuan ($994 billion) for 2011, down 12 percent from this year’s target, as it gets “more serious” about combating inflation, Sanford C. Bernstein & Co. said. China Inflation Curbs Offer ‘Buying Opportunity,’ JF Asset Says Chinese stock declines spurred by government measures to curb inflation offer a “buying opportunity,” said Howard Wang, head of the Greater China team at JF Asset Management Ltd. in Hong Kong. China May Impose Price Controls as Inflation Surges (Update2) China may impose temporary price controls to counter the fastest inflation in two years, the cabinet said. Honohan Says Ireland May Tap ‘Substantial’ EU-IMF Loan (Update2) Irish central bank Governor Patrick Honohan said he expects the country to ask for a bailout from the European Union and the International Monetary Fund worth “tens of billions” of euros to rescue its battered banks. IMF Says Hong Kong Rising Home Prices May Spur Slump (Update2) The International Monetary Fund said Hong Kong’s accelerating asset inflation risks causing a bust that leads to deflation and an extended economic “downturn,” and urged further measures to rein in property prices. OTHER MARKETS: Stocks, Commodities Rise on Irish Bailout Talks; Euro Advances Stocks rose around the world, the euro strengthened and commodities snapped two days of losses on the prospect of a European Union-led bailout for Ireland. The nation’s bonds rallied, and U.S. index futures advanced. Euro Climbs for Second Day as Ireland’s Crisis Seen Contained The euro advanced for a second day against the dollar and the yen on optimism a bailout for Ireland will prevent contagion across the region’s larger debt markets. Oil Rebounds From a Four-Week Low After Drop in U.S. Supplies Oil rose, rebounding from a four- week low, after a U.S. government report unexpectedly showed crude inventories fell the most since August 2009, boosting optimism that fuel demand will increase. SPORTS: FIFA’s Ethics Panel Suspends, Fines Two Executive Board Members Soccer’s governing body FIFA suspended and fined two members of its executive committee for ethics violations after newspaper reports that they were willing to accept money for their votes on the World Cup venues. To contact the editor responsible for this story: Stuart Wallace at swallace6@bloomberg.net

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