Wheat futures for May delivery surged as much as 2 percent to $9.1675 a bushel on the Chicago Board of Trade. The September-delivery wheat contract on the Zhengzhou Commodity Exchange jumped as much as 3.7 percent to a record 3,110 yuan ($471) a metric ton. Egypt is the world’s biggest wheat importer. Copper jumped 2 percent to $10,159 a metric ton in London on increased imports in China, the world’s largest buyer of industrial metals.
Oil fluctuated between gains and losses in New York. Brent crude for April settlement climbed 2.8 percent to $103.76 a barrel on the London-based ICE Futures Europe exchange. The March contract expired on Feb. 11 at $101.43.
Brent has outpaced New York futures, widening the difference between the prices for April delivery to more than $13 a barrel, as unplanned outages cut European supplies.
The euro depreciated 0.5 percent versus the dollar and 0.7 percent against the yen. The New Zealand dollar slid 0.5 percent versus the U.S. currency after a report showed retail sales fell in December from a month earlier. Australia’s currency advanced against most of its major counterparts after government data showed home loans climbed more than economists forecast.
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