Asia Commodities Day Ahead: Nebraska Beef Widens E. Coli Recall

Aug. 15 (Bloomberg) -- Nebraska Beef Ltd. of Omaha has expanded its latest E. coli-related recall, the government said. Corn and wheat gained. Harbinger Capital Management will ask Cleveland-Cliffs Inc.'s shareholders to allow it to double its stake in the iron-ore producer. Platinum and gold dropped. Cia. Vale do Rio Doce plans to almost double iron-ore output. Sugar, cotton and cocoa declined.

AGRICULTURAL COMMODITIES

Nebraska Beef Expands Second E. Coli-Related Recall

Nebraska Beef Ltd. of Omaha has expanded its latest E. coli-related recall, bringing the total amount of meat called back since late June to 6.66 million pounds, according to the U.S. Department of Agriculture.

U.S. Soybean Use Falls After End of Argentine Crisis

Soybean demand from U.S. processors fell 6.7 percent last month after Argentina rescinded an export tax increase, ending a four-month dispute with farmers and reducing demand for U.S. vegetable oils and animal feed.

Corn Rises Amid Speculation Cold Weather Will Damage U.S. Crops

Corn rose, capping the biggest three-day gain in more than eight weeks, on speculation that freezing temperatures in the Midwest during September will damage crops in the U.S., the world's top producer. Corn rose 18.75 cents, or 3.4 percent, to $5.7725 a bushel in Chicago.

Soybeans Decline as Reports Shows Slowing Demand for U.S. Crops

Soybeans fell for the first time in four sessions, after reports showed a slowdown in demand for supplies in the U.S., the world's biggest grower and exporter. Soybeans fell 10 cents, or 0.8 percent, to $12.74 a bushel in Chicago.

Wheat Extends Rally on Signs of Improved Demand for U.S. Grain

Wheat rose to a six-week high on signs of increased demand and speculation importers are betting that U.S. supplies are the cheapest they will be for the rest of this year. Wheat rose 14.25 cents, or 1.6 percent, to $8.895 a bushel in Chicago.

Cattle Rise on Signs of Tightening U.S. Beef Supply; Hogs Fall

Cattle rose to the highest price this week on signs of improving demand for U.S. beef and reduced supplies for meatpackers. Cattle climbed 0.45 cent, or 0.4 percent, to $1.079 a pound in Chicago. Feeder cattle gained 0.575 cent, or 0.5 percent, to $1.15425 a pound. Hogs fell 0.15 cent, or 0.2 percent, to 76.075 cents a pound.

STEEL, IRON ORE, COAL & URANIUM

Harbinger Seeks to Buy Up to 33% of Cleveland-Cliffs

Harbinger Capital Management will ask Cleveland-Cliffs Inc.'s shareholders to allow it to double its stake in the iron-ore producer to one-third as it seeks to prevent the company's purchase of Alpha Natural Resources Inc.

Vale Boosts Output Goal, Plans to Double Iron, Alumina Capacity

Cia. Vale do Rio Doce, the world's biggest iron-ore producer, plans to almost double output of the raw material used to make steel, more than previously planned, as part of $25 billion in investments in Brazil's Para state.

Cameco Second-Quarter Net Falls 27% as Sales Decline

Cameco Corp., the world's largest uranium producer, said second-quarter profit fell 27 percent as sales and output of the raw material in nuclear fuel declined.

Usiminas Net Rises as Brazil Growth Boosts Demand

Usinas Siderurgicas de Minas Gerais, Brazil's second- largest steelmaker, said second-quarter profit rose 7.3 percent as growth in Latin America's biggest economy boosted demand for the company's flat steel.

PRECIOUS METALS, GEMS

Gold, Silver Fall as U.S. Consumer Prices Rise Most in 17 Years

Gold fell on speculation surging U.S. consumer costs may spur the Federal Reserve to raise interest rates, boosting the dollar and eroding the metal's appeal as an alternative investment. Gold fell $17, or 2 percent, to $814.50 an ounce in New York. Silver futures for December delivery sank 61.8 cents, or 4.1 percent, to $14.36 an ounce.

Platinum, Palladium Fall in N.Y. as U.S. Consumer Prices Climb

Platinum and palladium fell in New York on speculation that the Federal Reserve may raise U.S. interest rates next month to cool inflation after a report showed consumer prices climbed the most in 17 years in July. Platinum fell $27.40, or 1.8 percent, to $1,489.10 an ounce. Palladium dropped $8.35, or 2.6 percent, to $308 an ounce.

INDUSTRIAL METALS, MINING

Copper Declines in New York as Dollar Rallies, Crude Oil Drops

Copper slid as a decline in oil prices and an advance in the dollar limited demand for commodities as inflation hedges. Copper dropped 4.7 cents, or 1.4 percent, to $3.305 a pound in New York.

CHEMICALS

Hexion Loss Widens to $180 Million on Rising Expenses

Hexion Specialty Chemicals Inc., the Apollo Management LP unit trying to cancel a merger with Huntsman Corp., reported a wider second-quarter loss because of rising raw-material costs and acquisition-related expenses.

SOFT COMMODITIES

Sugar Falls in New York as Crude Oil Slips, Dollar Strengthens

Sugar dropped the most in more than a week in New York as a strengthening dollar pushed down crude oil and cut demand for fuel made from cane. Sugar fell 0.46 cent, or 3.3 percent, to 13.39 cents a pound.

Cotton Futures Fall on Slumping U.S. Exports, Economic Slowdown

Cotton fell for the first time in three sessions as shipments last week were less than expected from the U.S., the world's largest exporter, fueling speculation that a slowing economy will curb demand. Cotton dropped 1.71 cents, or 2.4 percent, to 69.48 cents a pound in New York.

Cocoa Joins Commodities Decline as U.S. Currency Strengthens

Cocoa fell in New York as the dollar gained, damping demand for commodities including gold and crude oil as hedges against inflation. Cocoa slid $19, or 0.7 percent, to $2,678 a metric ton in New York.

Orange Juice Rises on Bets Tropical Storms to Hurt Florida Crop

Orange-juice futures rose for a third day on concern that a tropical storm may batter Florida groves still recovering from hurricane damage in 2004 and 2005. Orange juice climbed 0.55 cent, or 0.5 percent, to $1.0775 a pound.

Coffee Falls as Stronger Dollar May Erode Appeal of Commodities

Coffee futures fell for the second-straight day on speculation the rising dollar, which makes commodities more expensive for buyers holding other currencies, will reduce the appeal of contracts traded in New York. Coffee declined 0.4 cent, or 0.3 percent, to $1.3905 a pound in New York.