Commodities Boomed, but Not for Street

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BY CAROLYN CUI

When commodity prices surged last year, one segment of the market missed out on the action: big Wall Street banks.

Gold, copper and cotton hit record highs in 2010, and investors piled into the market. But Wall Street's revenue from commodities, generated from helping clients trade and manage their risk, fell by an average of about 40%, according to bankers familiar with the results.

The performance wasn't disclosed in earnings reports by the companies, which usually combine commodities results with currencies and bonds.

At J.P. Morgan Chase & Co., which made an aggressive push into commodities during the past few ...

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