02122016Fri
Last update: Fri, 12 Feb 2016 05pm

Markets - Commodities

Markets - Commodities - Europe

EU wheat rebound stalls on euro rally PARIS: Euronext wheat futures closed slightly lower on Thursday as fresh gains for the euro clouded the export outlook and curbed a rebound from contract lows.March milling wheat, the most active contract on Euronext, settled 0.50 euro lower at 153.25 euros a tonne.Dealers said spread trading lent some support to the front-month contract, which outperformed subsequent delivery months that lost as much as 1 euro."The March contract is being supported by the narrowing of the spread with May, but on the other contracts negative sentiment is prevailing with weak economic indicators and a rally in the euro that is unwelcome for exports," one futures dealer said.March futures had rebounded in the previous session from a contract low of 149.00 euros, ending a run of 10 consecutive falling sessions.Growing fears about the state of the global economy sent equity markets tumbling and pushed the dollar lower, helping the euro climb to ...

Markets - Commodities - Americas

Sugar falls after Brazil cane data; coffee, cocoa join slide NEW YORK/LONDON: Raw sugar futures on ICE extended losses on Thursday after Brazilian cane data showed a higher than expected rate of crushing, while coffee and cocoa prices dropped under pressure from weaker financial and commodity markets.Sugar futures were weighed down by higher-than-expected late season sugar output in Brazil, which will add to available supplies longer term.Late season output from Brazil's main center-south cane belt jumped unexpectedly to 97,000 tonnes in the second half of ...

Markets - Commodities - Americas

Gold surges to 1-year high on financial uncertainty NEW YORK/LONDON: Gold vaulted more than 5 percent on Thursday to a one-year high, on track for its biggest daily jump in more than seven years as financial uncertainty, a lower dollar and tumbling stock prices around the world prompted investors to seek refuge in bullion.Volume of the most-active U.S. gold futures contract surged to the highest since late-2014 as investors poured into the market. Traders cited fears of financial instability and slumping bank shares ...

Markets - Commodities - Australia

Copper recovers after Fed statement undercuts dollar MELBOURNE: Copper climbed off its weakest level in a fortnight on Thursday after US Federal Reserve Chair Janet Yellen stressed that US interest rates would rise gradually, sending the dollar lower.The Fed is unlikely to reverse its plan to raise rates further this year, but tighter credit markets, volatile financial markets, and uncertainty over Chinese economic growth have raised risks to the US economy, Yellen said.The dollar hit a fresh 15-month low versus the yen ...

Markets - Commodities - Asia

Palm oil gains on weather concerns, snaps losses KUALA LUMPUR: Malaysian palm oil futures rose on Thursday, reversing losses made in the previous trading session, over concerns that weather could hurt output.The palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was up 1.1 percent at 2,596 ringgit ($627.81) per tonne at the end of the trading session.Traded volume stood at 37,984 lots of 25 tonnes each."Demand isn't there but the weather is holding up the market," said a trader ...

Markets - Commodities - Europe

Gold jumps 2.6pc on US interest rate outlook LONDON: Gold climbed to its highest in almost nine months on Thursday as the dollar, US Treasury yields and equity markets dipped on bets that the Federal Reserve could find it hard to raise US interest rates this year. The Fed is unlikely to reverse its plan to increase rates further this year, but tighter credit markets, volatile financial markets and uncertainty over Chinese economic growth will only allow gradual adjustments to monetary policy, Federal ...

Markets - Commodities - Europe

UK wheat exports gather pace in December LONDON: UK wheat exports gathered pace in December with Spain and Algeria the largest buyers, customs figures showed on Thursday.Britain exported 250,781 tonnes of wheat in December, up from 200,859 tonnes in November and the highest monthly total since the 2015/16 season began last July. Top customers included Spain (110,756 tonnes), Algeria (49,250 tonnes), the Netherlands (29,557 tonnes) and Tunisia (26,250 tonnes). Copyright Reuters, 2016