News Headline Summary

S&P have announced the composition changes and weights for the 2013 S&P GSCI Commodity Index, details below:

1. WTI crude has the largest percentage point weight decrease; Brent and Heating Oil have the largest percentage point increases.
2. There are no substantive modifications or new contracts added or removed from the S&P GSCI.
3. S&P are to maintain investment support level unchanged at USD 230bln for 2013

**Details of component changes:

ENERGY
• WTI Crude Oil - Cut reference weight by 6.25ppt to 24.71% (Prev. 30.96%)
• Brent Crude Oil - Hike reference weight by 4ppt to 22.34% (Prev. 18.35%)

• Gas Oil - Hike reference weight by 0.45ppt to 8.56% (Prev. 8.11%)
• Heating Oil - Hike reference weight by 1.04ppt to 6.17% (Prev. 5.13%)
• RBOB Gasoline - Hike reference weight by 0.88ppt to 5.90% (Prev. 5.02%)
• Natural Gas – Unchanged at 2.02%

METALS

• Gold – Cut reference weight by 0.05ppt to 3.00% (Prev. 3.05%)
• Silver – Unchanged at 0.49%

• Aluminium – Unchanged at 2.13%
• LME Copper – Hike reference weight by 0.04ppt to 3.28% (Prev. 3.24%)
• Lead – Hike reference weight by 0.02ppt to 0.40% (Prev. 0.38%)
• Nickel - Unchanged at 0.58%
• Zinc - Unchanged at 0.51%

SOFTS

• Corn - Hike reference weight by 0.03ppt to 4.69% (Prev. 4.66%)
• Chicago Wheat - Hike reference weight by 0.18ppt to 3.22% (Prev. 3.04%)
• Soybeans – Unchanged at 2.62%
• Sugar - Cut reference weight by 0.05ppt to 1.85% (Prev. 1.90%)
• Cotton - Cut reference weight by 0.05ppt to 1.07% (Prev. 1.12%)
• Coffee - Unchanged at 0.82%
• Kansas Wheat - Cut reference weight by 0.20ppt to 0.68% (Prev. 0.88%)

• Live Cattle - Cut reference weight by 0.09ppt to 2.62% (Prev. 2.71%)
• Feeder Cattle - Hike reference weight by 0.03ppt to 0.52% (Prev. 0.49%)
• Lean Hogs - Hike reference weight by 0.06ppt to 1.58% (Prev. 1.52%)

**All effective with the January 2013 roll period

06 Nov 2012 - 08:26 - Energy - Source: RANsquawk

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