12042016Sun
Last update: Sun, 04 Dec 2016 07pm

Markets - Commodities

Markets - Commodities - Europe

EU 2016/17 wheat exports reach 10.2mn T, 247,000 T this week      PARIS: European Union soft wheat exports in the 2016/17 season had reached 10.210 million tonnes by Nov. 29, up 9 percent from 9.337 million tonnes exported by the same period last season, official data showed on Thursday.  In the latest reporting week, the EU exported 247,000 tonnes of soft wheat, on the basis of a revised week-earlier total of 9.963 million tonnes, the data showed.  The EU changed last month its reporting system for grain exports and imports, which are now based on actual export shipments declared to customs services and no longer on licences requested.  Volumes under the new customs-based system are subject to revision in the following weeks, leading to volatility in weekly variations.  EU barley exports so far this season were 1.723 million tonnes, down 66 percent from a year earlier and including 30,000 tonnes in the latest reporting week, the data showed.  In maize, cumulative imports so far in 2016/17 were 3.610 million tonnes, down 19 percent, including ...

Markets - Commodities - Europe

Tunisia tenders to buy 109,000 T wheat, 50,000 T barley      HAMBURG: Tunisia's state grains agency has issued international tenders to purchase up to 109,000 tonnes of soft milling wheat and 50,000 tonnes of feed barley, European traders said on Thursday.  The origin was optional and tender deadline is Friday, Dec. 2, they said.  The wheat was sought for a range of shipment dates in 2017 from Jan. 5 to Feb. 25, depending on origin, they said.  The barley was sought for a range of 2017 shipment dates from Jan. 5 to ...

Markets - Commodities - Europe

Gold hits 10-month low after biggest monthly drop in 3 years         LONDON: Gold hit its lowest since February on Thursday, extending losses after its biggest monthly decline in more than three years, as a surge in oil prices boosted bond yields, denting interest in non-yielding gold as an alternative investment.The precious metal fell more than 8 percent in November, hurt by a jump in the dollar and Treasury yields after Donald Trump's surprise election to the US presidency last month, and by expectations that the Federal Reserve is gearing up to lift ...

Markets - Commodities - Asia

Shanghai copper rises on the back of oil rally      SYDNEY: Shanghai copper futures climbed nearly 2 percent on Thursday, recovering some of the previous session's steep losses, as a rally in oil prices filtered through to other commodities.  OPEC agreed on Wednesday to its first oil output cuts since 2008, driving up crude prices by around 10 percent."Industrial metals were stronger, spurred on the by the gains in the energy sector," ANZ bank said in a note, although it cautioned the oil-inspired rally could soon top out.Higher oil prices ...

Markets - Commodities - Asia

Palm reverses course to rise, tracking crude oil rally KUALA LUMPUR: Malaysian palm futures reversed course to gain in late trade on Wednesday as they tracked a rally in crude oil prices, following stronger prospects that oil supplies could be cut.Saudi Arabia's energy minister said at a meeting of the Organization of the Petroleum Exporting Countries an agreement among members to cut output was close. "Crude oil rallied as OPEC nears a deal to cut supplies," said a palm oil trader from Kuala Lumpur, explaining palm's price gains in the ...

Markets - Commodities - Europe

Gold pressured by firm dollar, vulnerable to downside LONDON: Gold was barely changed on Wednesday, but some analysts say there is scope for further downside after bullion endured its worst month of losses since June 2013.Gold has shed about 7 percent in November and analyst Daniel Briesemann at Commerzbank in Frankfurt reckons that bullion has not yet stabilised."Recently there's been a perfect storm against gold with higher risk appetite, rising stock markets and bond yields, massive ETF (exchange traded fund) outflows and the withdrawal of speculative financial investors," he said."We ...

Markets - Commodities - Europe

Copper falls to 1-week low, reality check stalls rally LONDON: Copper fell to one-week lows on Wednesday as investors cut bets on higher prices due to growing doubts that this month's sizzling rally was built on solid fundamentals.   Benchmark copper on the London Metal Exchange fell to a one-week low of $5,612.50, before inching up 0.7 percent to $5,744 a tonne. The metal used widely in power and construction hit $6,045.50 on Monday, its highest since June last year. "Fundamentals haven't really changed...speculative flows have been reversed," said Haitong Bank analyst Andrew ...