Copper also benefited from the dollar weakness, it also gained as stockpiles declined. LME-monitored inventories were dwindling every week since the end of February. Previously copper gained on signs of increasing demand in China. December futures for copper delivery gained $0.0275 (0.8 percent) to $3.618 per pound by 13:22 on COMEX.
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Euro’s rally prompted investors to sell the precious metal and buy the 16-nation European currency, limiting gains of gold. As McGhee of Integrated Brokerage Services said:

On the rallies, you’ve got some investors moving out of gold and back into euros.

December futures for gold delivery advanced $1.50 (0.1 percent) to $1,185.40 by 13:35 on COMEX, following the surge to $1,193.90. Speculators raised net-long position by 5.9 percent on COMEX in the week ended July 27th.
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Sugar futures dropped to the weekly low on speculation that world demand will decline. Analysts say that with increasing global inventories “the bulls will lose their opportunity for a strong rally”. May futures for raw-sugar delivery dropped $0.0062 (2.8 percent) to $0.2157 per pound on ICE.

Copper prices slid on concern that demand for the industrial metal will decline in China with stalled economic recovery. Earlier the metal fluctuated, following the dollar and the U.S. equities. May futures for copper delivery slid $0.007 (0.2 percent) to $3.4105 per pound on NYMEX.
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Crude oil fluctuated as the dollar rebounded versus the euro, equities rose more than predicted and on speculation about the global economic recovery. U.S. Energy Department reported that U.S. supplies of crude oil rose 1.73 million barrels last week. March delivery for crude oil dropped $0.18 to $76.83 per barrel as of 10:53 on NYMEX.

Cattle futures tumbled from a 15-month record as U.S. wholesale prices for the meat reached a highest in four-weeks, signaling that retailers may slow purchases of beef. Wholesale choice beef rose 0.6 percent to $1.4486 per pound, the highest price since January 20th, as cold weather in the U.S. reduced cattle-weight gains and diminished beef supplies. April delivery for cattle futures subtracted $0.002 to $0.91975 per pound at 11:23 on CME.
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Cocoa prices dropped after the dollar rebounded versus the euro and equities declined, decreasing appeal of some commodities for investors as safe haven. The dollar jumped on speculation that a European Union plan to aid Greece avoid default will fall. Analysts say that downward trend for cocoa can be short-term. May futures for cocoa delivery fell $17 (0.5 percent) to $3,099 per ton at 12:11 on ICE.
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Wheat prices went down in Chicago as oversees buyers moved to cheaper supplies. U.S. grain was considered overpriced as wheat from Russia, France and Kazakhstan was sold to Egypt for $174.90 per metric ton, while U.S. wheat was priced at $184.91 per ton. March futures for wheat delivery dropped $0.025 (0.5 percent) to $4.7325 per bushel on CBoT.
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Coffee price tumbled to the four-month low. Analysts say that this drop caused by the dollar’s rebound, not fundamentals. The dollar’s advance may convince investors and funds to take money out of commodities. March futures for Arabica-coffee delivery waned $0.0145 (1.1 percent) to $1.3155 per pound today.

Sugar went down in New York to the two-week low as the dollar rebounded against the euro, curbing investment appeal of the commodity. The U.S. currency gained 1.2 percent versus the euro, putting commodities under pressure. Some analysts say that sugar will be traded in a range of $0.27–$0.29 in the next couple of months if it wouldn’t fall below $0.27 now. March futures for raw-sugar delivery slid $0.0062 (2.2 percent) to $0.28 per pound by 13:08 on ICE.
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Fuel consumption in the U.S. fell 1.8 percent in the past four weeks compared to a previous year. Refineries ran at 78.4 percent of capacity in the U.S. last week, the lowest rate since 1989, barring the Atlantic hurricane season. Gasoline stockpiles rose 3.95 million barrels to 227.4 million last week, the record level since March 2008.

March delivery for crude oil dropped $1.17 (1.5 percent) to $74.91 per barrel by 10:15 on the New York Mercantile Exchange. Some analysts think that there shouldn’t be any significant changes in the market in the next few days after decline. But there is probability that crude oil may decline next week as U.S. fuel consumption falls and refineries idle units.
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Copper prices tumbled to the four-week low as the rising dollar cut buying of commodities as an inflation hedge and a decline in equity markets curbed demand outlook. Yet some analysts think that the outlook for copper over the longer term is quite positive as demand rises in Asia, including China. March futures for copper delivery dropped $0.06 (1.8 percent) to $3.295 per pound on NYMEX.

Soybeans rose on expectations that demand from China will rebound after prices from the U.S. fell 9.4 percent this month. China’s demand for soybeans grown in the U.S. to produce cooking oil and livestock feed rose as drought harmed crops in South America last year. March futures for soybean delivery gained $0.04 (0.4 percent) to $9.54 per bushel on CBoT.
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President of Strategic Energy & Economic Research said that “inventories are down because nobody wants to have excess supply on hand. The drop is not due to a tightening market.” President of Prestige Economics LLC thinks that “this is completely an import story.”

Supplies could fall even more if it weren’t for the decline in refinery runs. Refineries operated at 80.6 percent of capacity, compared to 1.2 percentage points in the previous week, the lowest rate since the week ended April 10th.

December delivery for crude oil gained $0.71 (0.9 percent) to $80.31 per barrel by 11:49 on the New York Mercantile Exchange.
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An analyst and broker at Tradition Energy said that buyers are “watching for signs of rising production rates and declines in gasoline inventories.” Until they get inventory figures for this week, the market will be following the equities and the dollar. An analyst at Nordea Bank AB predicted that oil prices likely aren’t going “to cross $80 a barrel and stay there.” Optimism from equities supports the oil market, but still it is required some increase on the demand side before the oil rise above $80.

November delivery for crude oil slid $0.14 to $78.39 per barrel by 9:30 a.m. on the New York Mercantile Exchange. December settlement for Brent crude oil fell $0.08 to $76.91 per barrel on the London-based ICE Futures Europe exchange.
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