02082016Mon
Last update: Mon, 08 Feb 2016 02am

Markets - Commodities

Markets - Commodities - Europe

India's PEC issues tender to import 240,000 T corn: trade HAMBURG: Indian state-run trading company PEC has issued an international tender to import 240,000 tonnes of yellow corn (maize), European traders said on Sunday.The tender closes on Feb. 12 and offers must remain valid up to Feb. 19, they said.Sources said on Dec. 31 that India would ask state-run traders to import half a million tonnes of duty-free corn after a second drought in the country cut crops.India is traditionally a major corn exporter to southeast Asia but the drought and rising domestic demand has cut export supplies.In a previous tender on Jan. 25, PEC purchased 225,500 tonnes of corn seen likely to be sourced from Ukraine.In its new tender, PEC is again seeking corn free of genetically-modified organisms (GMOs) which can be sourced from optional origins, traders said.Shipment is sought to a series of Indian ports between Feb. 20 to March 4, they said.Copyright Reuters, 2016

Markets - Commodities - Middle East & Africa

Egypt seeks to reassure wheat market after two cancelled tenders CAIRO: Egypt sought to reassure wheat markets over its import requirements on Sunday after weeks of confusion over the allowed limits of a fungus rattled traders and prevented its state grain buyer from purchasing wheat in two successive tenders.Egypt, the world's largest importer of wheat, has sent confusing messages to exporters in recent weeks, with agriculture authorities demanding a zero tolerance level for ergot, a common grains fungus, that traders say is impossible to guarantee.In ...

Markets - Commodities - Asia

Gold perched near 3-mth high ahead of US jobs, eyes best week in 4 MANILA: Gold was trading near its highest since October on Friday, on track for its strongest weekly gain in a month as the dollar was pressured by growing doubts the Federal Reserve can stick to its interest rate hike campaign.A shaky global economy has lifted buying interest in gold, making it among the best performing assets with a year-to-date gain of nearly 9 percent. Other precious metals rode on gold's rally, with silver and platinum ...

Markets - Commodities - Asia

Iron ore scores best week in 9 months ahead of China holiday MANILA: Iron ore finished the week with its biggest weekly gain since last April, after racing to its highest since November as buyers snapped up spot cargoes ahead of the Lunar New Year holiday.Slower shipments from top suppliers Australia and Brazil amid weather risks while Chinese buyers restocked ahead of the Feb. 8-12 break fuelled iron ore's rally, traders said. Trading activity was limited on Friday just before the holiday break.Some market participants were unsure ...

Markets - Commodities - Australia

London copper set for third weekly rise ahead of Lunar New Year MELBOURNE: London copper fell on Friday, but was set for a third consecutive week of gains as signs of stabilisation in the market and a weaker dollar convinced traders to close short positions ahead of Lunar New Year holidays next week in China. The dollar steadied in Asian trading on Friday but remained on track for weekly losses, as investors braced for US employment figures later in the session for the latest clues on the ...

Markets - Commodities - Americas

Wheat falls on poor US export data; corn, soy also weak CHICAGO: Wheat futures on the Chicago Board of Trade fell 1.5 percent on Thursday on disappointing US export sales data, traders said.Corn and soybeans also fell, retreating from six-week highs set this week, on improving crop prospects in South America.At the CBOT, March wheat settled down 7-1/4 cents at $4.72-3/4 per bushel. March corn ended down 2-1/2 cents at $3.68-1/2 per bushel and March soybeans fell 2-1/4 cents at $8.74-1/2 a bushel.Wheat fell after the ...

Markets - Commodities - Europe

Gold hits three-month peak as US rate rise views ease LONDON: Gold extended its rally on Thursday, building on the previous day's gains to strike a three-month high as global economic and financial headwinds present obstacles to a U.S. interest rate rise in the near term.Spot gold rose more than 1 percent at one point to touch $1,156.60 an ounce, its highest since Oct. 29, adding to Wednesday's 1.2 percent rise.The yellow metal has benefited from a selloff in the dollar over the past two ...