01172017Tue
Last update: Tue, 17 Jan 2017 03pm

Markets - Commodities

Markets - Commodities - Europe

NY Cocoa rebounds on short covering, weak dollar LONDON: New York cocoa rebounded sharply on Thursday after falling to a near four-year low a day earlier, with prices supported by short covering and a weaker dollar. March New York cocoa rose 3.9 percent to $2,210 a tonne before easing back slightly to $2,203 at 1329 GMT. Prices had tumbled 3.6 percent on Wednesday to their lowest since 2013. March London cocoa also rose 26 pounds, or 1.48 percent, to 1,777 pounds per tonne, buoyed by the lift in New York prices. A dealer said the increase was mostly the result of short covering, after prices failed to slide even further following Thursday's open. "It started off as what could have been a day of consolidation, it has turned, led by New York, into what looks like a short-covering, reactive element," the dealer said. "The fact that it failed to follow through on the downside has led to a ...

Markets - Commodities - Americas

Dry weather speeds up soybean harvest in Brazil CAMPO VERDE: Long queues of trucks loaded with soybeans have been forming in front of elevators in the heart of Brazil's grain belt this week, a sure sign the harvest is speeding up and will soon pour an expected record volume of the oilseed into the market. Brazil, the world's largest soybean exporter, started harvesting its 2016/17 crop around Christmas, earlier than in previous seasons. Planting started in late September, earlier than usual, on the ...

Markets - Commodities - Americas

CBOT Trends-Wheat steady-down 1, corn down 1-3, soybeans steady-up 1 CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Thursday. Thursday is the fourth day of the five-day period in which commodity index funds are expected to rebalance their portfolios for 2017. WHEAT - Steady to down 1 cent per bushel Choppy as traders await USDA's reports, including US winter wheat plantings. Pressure noted ...

Markets - Commodities - Americas

US Cash Soymeal-Rail offers ease on heavy supply, weak demand CHICAGO: Spot basis offers eased at US rail markets on Wednesday and were mostly steady at truck and export points as heavy supplies and limited demand continued to anchor prices for the animal feed, dealers said.Some livestock and poultry producers were utilizing cheaper feeds such as distillers' grain, a byproduct of corn-based ethanol. China increased punitive tariffs on imports of US DDGs, likely further slowing shipments to China and leaving more supplies for users in ...

Markets - Commodities - Americas

Brazil coffee industry sees flat 2017 exports SAO PAULO: Coffee exporters in Brazil, the world's largest producer, see shipments in 2017 around the same 30 million bags shipped in 2016 despite talk of a weaker off-cycle 2017/18 crop.Brazil coffee exporters' association, Cecafe, said in a Wednesday briefing that it is still not clear if production will fall much due to the usual drop in yields during the biannual production cycle. "I am not sure if the off-cycle is going to be so ...

Markets - Commodities - Asia

Palm oil sees biggest gain in a week on stronger Dalian, exports KUALA LUMPUR: Malaysian palm oil futures rose nearly 2 percent on Wednesday, tracking stronger rival oils on the Dalian Commodity Exchange and boosted by demand from China.A 6.4 percent fall in November output and forecasts of a further decline in production in January contributed to the gains.Benchmark palm oil futures for March delivery on the Bursa Malaysia Derivatives Exchange were up 1.7 percent to 3,133 ringgit ($701) a tonne at the close of trade, the ...

Markets - Commodities - Europe

Copper eases from 4-week high ahead of Trump news conference LONDON: Copper edged lower on Wednesday ahead of a news conference by US President-elect Donald Trump, having earlier hit a four-week high after upbeat Chinese and global economic data fuelled expectations for firm demand this year.Three-month copper on the London Metal Exchange was down 0.2 percent at $5,750.50 a tonne at 1035 GMT, off a peak of $5,788.50, its highest since Dec. 13. The metal surged more than 10 percent in the month following Trump's ...