06262016Sun
Last update: Sun, 26 Jun 2016 11pm

Markets - Commodities

Markets - Commodities - Europe

South Korea's KOCOPIA passes in 55,000 T corn tender HAMBURG: South Korea's Korea Corn Processing Industry Association (KOCOPIA) rejected all offers and made no purchase in a tender for 55,000 tonnes of corn which closed on Friday, European traders said. Prices were regarded as too high, they said. Lowest offer was $201.11 a tonne c&f for any origin corn followed by $205.46 a tonne c&f for corn from the United States, they said. Prices included a surcharge for additional port unloading. The corn was sought for arrival around Oct. 1, they said. KOCOPIA purchased about 55,000 tonnes of yellow corn to be sourced from the United States in a tender which closed on Wednesday. Chicago corn, soybeans and wheat fell around two percent on Friday as Britain's vote to leave the European Union hammered global financial and commodity markets. Copyright Reuters, 2016

Markets - Commodities - Asia

Vietnam's 2016 rice exports seen down 13 pct y/y HANOI: Vietnam's rice exports in 2016 could fall 13.2 percent from a year earlier to 5.7 million tonnes as supply was dampened by drought and salination, a government news website reported on Friday. Rice exports in January-June by Vietnam, the world's third-biggest exporter of the grain after India and Thailand, is seen down 8.4 percent annually at 2.73 million tonnes, the website quoted the Vietnam Food Association (VFA) as saying. The annual estimate is lower ...

Markets - Commodities - Asia

Palm sees third week of declines on Brexit concerns KUALA LUMPUR: Malaysian palm oil futures fell on Friday evening for a third consecutive week of losses, tracking declining rival vegetable oils and amid investor concerns over Britain's vote to leave the European Union.The market fell for two sessions this week before paring losses in late trade on Thursday, but declined on Friday to fall 2.9 percent this week.Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange fell 0.2 percent to ...

Markets - Commodities - Asia

Asia Gold-Price rally curbs demand, but Brexit may spur safe-haven buys MUMBAI/BENGALURU: Gold demand in Asia was tepid this week as prices surged to a more than two-year high, but purchases are expected to pick up as Britain's vote to exit the European Union burnishes the metal's safe-haven appeal. Bullion, often perceived as a hedge against economic and financial uncertainty, jumped 8 percent on Friday to its highest since March 2014, as Britons shocked markets by voting to leave the European Union, unleashing turmoil across world ...

Markets - Commodities - Europe

London cocoa rallies as pound slumps; sugar, coffee slide LONDON: Sterling-based London cocoa futures on ICE jumped and dollar-based New York cocoa fell on Friday as the markets adjusted to a plunge in the pound to a 31-year low after Britons voted to leave the EU.Raw sugar and arabica coffee futures fell around 3 percent, pressured by the strengthening dollar, falls in other commodity markets notably oil, and political and economic uncertainty following the British referendum.London cocoa surged as the plunging pound made it ...

Markets - Commodities - Europe

Copper drops after Brexit vote sends dollar soaring LONDON: Copper and other industrial metals slumped on Friday as concerns about economic growth rose after Britain voted to leave the European Union and the dollar soared. The losses hit the base metals complex across the board with zinc and tin falling to three-week lows. But the moves were not as strong as in other commodities, partly due to the key role of China, the world's biggest metals consumer. "Of course, there are implications for ...

Markets - Commodities - Europe

Expectations of poor robusta coffee crops could spur price rally LONDON: Expectations of poor robusta coffee crops next season in major producers such as Brazil, Vietnam, Indonesia and India could trigger a price rally. "Weather is not ideal in all of these countries," a senior European coffee trader said. Output of Brazilian robusta, or conillon, is forecast to be down this year due to prolonged dry weather in key growing areas such as Espirito Santo, and trade sources are now voicing concerns about prospects for ...