Commodities

BHP's Australian Iron Ore Exports Rise 5% in December From a 9-Month Low BHP Billiton Ltd., the world’s biggest mining company, shipped 5 percent more iron ore from Australia in December than in November, when exports hit a nine-month low on plunging demand from China.

Crude Oil Trades Near $48 as U.S. Recession Deepens, Stockpiles Increase Crude oil traded little changed after falling yesterday on signs the economy in the U.S., the world’s biggest energy consumer, contracted further in November and December, pushing oil inventories higher.

Gold Declines as Strengthening Dollar Cuts Alternative Investment Demand Gold dropped as the dollar strengthened to a three-week high against the euro, reducing the appeal of the precious metal as an alternative investment.

Cotton Rises to 10-Week High as Falling Output May Exceed Declining Demand Cotton prices rose to a 10-week high in New York on expectations that a plunge in global production will exceed a drop in demand and as investors snapped up commodities that declined in value in 2008.

Cocoa Prices Rise in New York as Deliveries to Ivory Coast Ports Decline Cocoa prices rose for the second straight day in New York as deliveries declined to ports in Ivory Coast, the world’s biggest producer of the beans.

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