Russian grain union expands 2013 grain crop forecast
2013-05-21 12:11:36 GMT : (Markets - Commodities/Europe)
MOSCOW: Russian Grain Union has raised the top end of its 2013 harvest forecast range due to the good condition of winter grains, its head said on Tuesday, indicating that crop risks due to dry weather this month were limited.The union has expanded its 2013 grain harvest forecast range to 90-100 million tonnes from a previously expected 90-95 million tonnes, Arkady Zlochevsky, the head of the lobb...
ICE sugar near 34 month low
2013-05-21 12:01:31 GMT : (Markets - Commodities/Europe)
LONDON: Raw sugar futures on ICE hovered above a 34-month low on Tuesday, as bumper crops in producers including Brazil and Mexico kept prices under pressure, while arabica coffee and cocoa futures were steady.July raw sugar futures eased 0.01 cent or 0.1 percent to 16.80 cents per lb at 1103 GMT, matching the previous session's near three-year low."The market has been in a continued downtrend...
Copper slips ahead of factory data; US outlook supports
2013-05-21 09:58:25 GMT : (Markets - Commodities/Europe)
LONDON: Copper slipped on Tuesday as traders grew nervous ahead of a slew of factory data this week and as they focused on disappointing import numbers from top consumer China, though losses were capped by confidence in the US economy.Benchmark three-month copper on the London Metal Exchange traded down 0.24 percent at $7,381 a tonne at 0846 GMT, eating away at Monday's gains of more than 1 pe...
ICE sugar slips to lowest level since July 2010
2013-05-20 14:44:59 GMT : (Markets - Commodities/Europe)
LONDON: Raw sugar futures on ICE fell to the lowest level in nearly three years on Monday as the strong pace of cane crushing in top producer Brazil exerted further downward pressure on the market already struggling to absorb excess supplies.July raw sugar on ICE fell 0.09 cent or 0.5 percent to 16.80 cents a lb, the lowest level for the benchmark front month since July 2010.Copyright Reuters, 201...
Copper gains as China inventories fall, dollar weighs
2013-05-17 14:19:04 GMT : (Markets - Commodities/Europe)
LONDON: Copper rose for a second day on Friday, supported by tentative signs of better metals demand in top consumer China, but gains were capped by a stronger dollar and persistent worries about Chinese economic growth.Data on Friday showed that copper in warehouses registered by the Shanghai Futures Exchange fell by 4,713 tonnes or 2.4 percent over the past week, bringing the total decline since...
Copper rebounds as dollar drops, weak demand caps gains
2013-05-16 22:28:59 GMT : (Markets - Commodities/Europe)
LONDON: Copper rose on Thursday, rebounding from earlier falls, as the dollar weakened against the euro and a basket of currencies, but further gains for the metal were capped by concern about lacklustre demand from top consumer China.Three-month copper on the London Metal Exchange closed at $7,280 a tonne, up from $7,198 on Wednesday.It is on track for a 2 percent fall this week and a fall of 9 p...
EU wheat slips on US fall, hesitates on weather
2013-05-16 22:28:26 GMT : (Markets - Commodities/Europe)
PARIS: European wheat futures extended losses in late Thursday trading after a fall in Chicago, but operators remained hesitant about prospects for this summer's northern hemisphere harvests.November milling wheat on the Paris futures market closed down 1.50 euros or 0.71 percent at 208.75 euros a tonne.The November contract on London's feed wheat futures fell below 180 pounds per tonne fo...
Gold falls for sixth session, may re-test April lows
2013-05-16 15:02:07 GMT : (Markets - Commodities/Europe)
LONDON: Gold dropped for the sixth consecutive session on Thursday, hitting its lowest level in four weeks, on a stronger dollar and battered investor sentiment.Rallying stocks have also hurt bullion's appeal as an alternative investment this year, leading funds to generally liquidate their gold positions.Gold fell as much as 1.6 percent to a low of $1,369.29 an ounce in earlier trade. It pare...
Market steadies as weather, exports watched
2013-05-16 14:18:36 GMT : (Markets - Commodities/Europe)
PARIS/SINGAPORE: Chicago grain and soybean futures edged higher on Thursday in subdued trading as the market awaited fresh direction from weekly export figures and crop weather forecasts.Prices were steadying after losses in the previous session fuelled by a combination of a strong dollar, improved planting weather for US corn and signs of sluggish demand.Chicago Board of Trade July corn added 0.1...
Copper falls on firm dollar, weak demand prospects
2013-05-16 13:19:45 GMT : (Markets - Commodities/Europe)
LONDON: Copper fell on Thursday as the dollar strengthened and on concern about lacklustre demand for the metal in top consumer China that was compounded by evidence the European and United States economies are still struggling.Copper is seen as an economic bellwether because it is used extensively in construction and power cables.Three-month copper on the London Metal Exchange was $7,125 a tonne ...
Copper falls as European growth fizzles, funds sell
2013-05-15 20:56:45 GMT : (Markets - Commodities/Europe)
LONDON: Copper slid to its lowest in nearly two weeks on Wednesday after disappointing European economic data fuelled worries about global growth and metals demand, emboldening funds to add to short positions.A stronger dollar also weighed on markets and further gains in inventories reminded investors that most base metals markets are over supplied.Three-month copper on the London Metal Exchange e...
Corn eases on US planting hopes, wheat edges down
2013-05-15 13:45:53 GMT : (Markets - Commodities/Europe)
AMSTERDAM: Chicago corn slid for a second day on Wednesday on hopes that dry weather this week across the US grain belt will boost planting, which is running at a record low pace.Soybeans were little changed, with the market underpinned by tight old-crop supplies and expectations of strong demand. Wheat edged lower, tracking corn.US farmers are expected to make rapid progress in planting corn this...
ICE sugar hits near 3 years low as Brazil output surges
2013-05-15 13:14:04 GMT : (Markets - Commodities/Europe)
LONDON: Benchmark raw sugar futures on ICE broke below 17 cents a lb on Wednesday for the first time in nearly three years weighed by the rapid pace of production in top grower Brazil and the strength of the dollar.July raw sugar futures stood 0.05 cent or 0.3 percent lower to 16.97 cents a lb at 1138 GMT after hitting 16.94 cents, the weakest level for the front month since July 2010."The expecta...
Gold edges lower as dollar steadies
2013-05-14 11:45:38 GMT : (Markets - Commodities/Europe)
LONDON: Gold edged lower on Tuesday, snapping earlier gains because the dollar steadied against the euro after mixed European economic data, while investor sentiment remained careful though physical demand slowed in some markets.Gold was down 0.1 percent to $1,428.64 by 1037 GMT, having risen by one percent to a session high of $1,444.96 an ounce in earlier trade. The metal has faced the pressure ...
Gold falls, near 2-week low as dollar firms
2013-05-13 14:03:29 GMT : (Markets - Commodities/Europe)
LONDON: Gold fell 1.2 percent on Monday, holding near its weakest level in two weeks, as the dollar firmed on signs of an improving US job market and as holdings in exchange-traded funds slipped again.Bullion's safe-haven appeal has been dimmed by speculation the Federal Reserve could scale back its aggressive monetary stimulus after recent US labour market data pointed to a steady recovery tr...
Copper edges up on weak China data, monetary easing hopes
2013-05-13 11:25:37 GMT : (Markets - Commodities/Europe)
LONDON: Copper edged up on Monday because weak Chinese factory data for April raised the hope that metal consumer to embark on monetary easing further, which would lead demand for metals.London Metal Exchange rose 0.5 percent to $7,409 a tonne by 1039 GMT, from the previous session when it ended at $7,375, up nearly 2 percent on the week. Copper hit $7,480 last Wednesday, its highest in nearly a m...
Gold slide 2pc to two-week low
2013-05-10 12:28:53 GMT : (Markets - Commodities/Europe)
LONDON: Gold prices extended losses on Friday to fall 2 percent, their biggest one-day drop since mid-April, after pressure from a stronger dollar and rising stocks pushed the metal through key chart levels, prompting heavy liquidation of US futures.Spot gold hit a low of $1,428.40 an ounce and was down 1.7 percent at $1,433.10 an ounce at 1156 GMT. US gold futures for April delivery were down 2.4...
Gold eases towards $1,450/oz as dollar, stocks rise
2013-05-10 10:13:52 GMT : (Markets - Commodities/Europe)
LONDON: Gold prices fell on Friday, heading for their first weekly loss in three, as the dollar hit four-year highs against the yen and stocks rose after upbeat jobs data fuelled optimism over the US recovery.Gold prices are set to end the week down more than 1 percent after their recovery from April's more than two-year lows ran out of steam above $1,480 an ounce.Spot gold was down 0.5 percen...
Copper steadies on falling inventories, upbeat data
2013-05-10 10:11:18 GMT : (Markets - Commodities/Europe)
LONDON: Copper steadied on Friday after losses in the previous session as inventories kept falling and further improvements emerged in economic data, but a firmer dollar weighed on the market.Three-month copper on the London Metal Exchange - on course to stretch its weekly winning streak into a third week - edged up 0.2 percent to $7,369 a tonne by 0953 GMT, after rising to a session high of $7,41...
Gold down 1 pct on broad dollar rally; PGMs higher
2013-05-09 21:50:44 GMT : (Markets - Commodities/Europe)
NEW YORK/LONDON: Gold fell 1 percent in choppy trade on Thursday as the dollar rose to a four-year high against the yen and rallied against the euro, decreasing bullion's appeal as a hedge against US currency depreciation.After trading slightly lower earlier in the session, bullion accelerated losses after the dollar smashed above the 100 yen mark and jumped 1 percent against the euro. The res...