Asia Commodities Day Ahead: U.S. Fights JBS, National Beef Deal

Oct. 21 (Bloomberg) -- U.S. antitrust enforcers and 13 states sued to prevent Brazil's JBS SA from acquiring National Beef Packing Co. Copper fell; gold, silver and platinum rose. Mosaic Co. rose 16 percent in New York on speculation Cargill Inc. may take advantage of a plunge in the crop-nutrient maker's shares to increase its majority stake. Corn and soybeans gained; wheat declined.

AGRICULTURAL COMMODITIES

U.S. Sues to Block JBS From Acquiring National Beef

U.S. antitrust enforcers and 13 states sued to prevent Brazil's JBS SA from acquiring National Beef Packing Co., saying the company would have too much control over the $30 billion cattle market and retail meat prices.

Hormel Foods Tumbles After Reducing 2008 Profit Forecast

Hormel Foods Corp., the maker of Spam meat spread, fell the most in eight years in New York trading after saying 2008 profit will be less than expected because of higher costs and a decline in its investments.

Mosaic Rises Amid Speculation Cargill May Boost Stake

Mosaic Co. rose 16 percent in New York on speculation Cargill Inc. may take advantage of a plunge in the crop- nutrient maker's shares this year to increase its majority stake.

Corn, Soybean Prices Climb as Bank Rescue May Revive Demand

Corn and soybeans rose, after last week touching the lowest prices of the year, on speculation that financial rescues in the U.S. and Europe will prevent a global recession. Corn gained 15.5 cents, or 3.8 percent, to $4.185 a bushel in Chicago. Soybeans climbed 34 cents, or 3.7 percent, to $9.4075 a bushel.

Wheat Futures Fall on Signs of Slack Demand for U.S. Stockpiles

Wheat fell for the fourth time in five sessions on signs that the lowest prices in 16 months have done little to revive demand for supplies from the U.S., the world's largest exporter. Wheat dropped 2.75 cents, or 0.5 percent, to $5.635 a bushel in Chicago.

Cattle Futures Fall as Feedlots Buy Heavier Animals; Hogs Drop

Cattle futures fell on signs that the supply to U.S. slaughterhouses will increase after feedlot operators bought more animals at heavier weights. Cattle slipped 0.475 cent, or 0.5 percent, to 92.075 cents a pound in Chicago. Feeder cattle dropped 0.1 cent to 97.95 cents a pound. Hogs declined 0.05 cent to 56.25 cents a pound.

CHEMICALS

DuPont Profit to Drop on Hurricanes, Slowing Economy

DuPont Co., the third-biggest U.S. chemical maker, may report its first decline in profit in 10 quarters after global demand for housing and auto products slumped and hurricanes disrupted operations.

INDUSTRIAL METALS, MINING

Freeport May Post Biggest Profit Decline Since 2007

Freeport-McMoRan Copper & Gold Inc., the world's largest publicly traded copper producer, probably will say Oct. 21 that third-quarter profit tumbled 43 percent, the biggest drop in almost a year, as metal prices declined.

Copper Price Falls in New York as China's Economic Growth Slows

Copper prices dropped after China's economy, the biggest contributor to global growth, expanded at the slowest pace in five years. Copper fell 6.3 cents, or 2.9 percent, to $2.1165 a pound in New York.

PRECIOUS METALS, GEMS

Gold Rebounds as Decline Below $800 Spurs Buyers; Silver Gains

Gold rose after the lowest price in more than a month attracted investors and spurred jewelry demand. Gold gained $2.30, or 0.3 percent, to $790 an ounce in New York. Silver climbed 35.5 cents, or 3.8 percent, to $9.69 an ounce.

Platinum, Palladium Prices Gain in N.Y. on Rate-Cut Speculation

Platinum and palladium climbed in New York on speculation that the Federal Reserve may cut U.S. interest rates to boost economic growth, supporting demand for the metals used in car parts and jewelry. Platinum rose $11.50, or 1.3 percent, to $892.50 an ounce in New York. Palladium jumped $5.55, or 3.2 percent, to $180.05 an ounce.

SOFT COMMODITIES

Cotton Plunges Most in 13 Years on Dollar's Gain, Slack Demand

Cotton prices plunged the most in at least 13 years as the dollar's rally made U.S. supplies less attractive to overseas buyers and purchases by merchants slowed. Cotton tumbled 3.51 cents to 49.06 cents a pound in New York.

Sugar, Cocoa Prices Drop in N.Y. as Dollar Rally Erodes Demand

Sugar prices fell in New York as the dollar's rally eroded the appeal of some commodities. Raw sugar lost 0.08 cent, or 0.7 percent, to 11.5 cents a pound. Cocoa dropped $37, or 1.7 percent, to $2,085 a metric ton.

Coffee Slips in N.Y. as Higher Dollar Trims Commodities Demand

Coffee slipped in New York as the dollar gained, reducing demand for commodities priced in the U.S. currency. Arabica coffee fell 1.1 cents, or 1 percent, to $1.145 a pound. In London, robusta coffee fell $3, or 0.2 percent, to $1,791 a pound. Orange juice for November delivery jumped 1.9 cents, or 2.3 percent, to 85.45 cents a pound in New York. Orange juice futures for January delivery rose 2 cents, or 2.3 percent, to 88.9 cents a pound.