07302016Sat
Last update: Sat, 30 Jul 2016 02pm

Markets - Commodities

Markets - Commodities - Asia

TOCOM rises for a second day on supply concerns TOKYO: Benchmark Tokyo rubber futures rose for a second day on Thursday as investors stepped up buying on concerns over possible supply disruptions in Southeast Asia due to bad weather, dealers said.The Tokyo Commodity Exchange (TOCOM) rubber contract for January delivery finished 1.6 yen, or 1.0 percent, higher at 158.1 yen ($1.51) per kg."Speculations that a typhoon may hit Thailand and cause reduction in rubber output sparked buying, especially for the near-term contracts," said Jiong Gu, an analyst at Yutaka Shoji Co, pointing to a more than 5 percent jump in the September contract and the October contract.The gains came despite the yen's rise and weaker oil prices.The dollar fell as much as 0.9 percent to 104.48 yen on Thursday as expectations faded of the Bank of Japan delivering the radical stimulus package some had expected this week, and after the U.S. Federal Reserve stopped short of flagging a near-term ...

Markets - Commodities - Europe

Gold firms after Fed holds off signalling rate rise LONDON: Gold rose on Thursday after the Federal Reserve stopped short at this week's policy meeting of indicating that a further increase in US interest rates is on the cards for later this year.Uncertainty over the path of interest rates has held gold in check since it rallied to more than two-year highs in the wake of Britain's shock vote last month to leave the European Union. Relief that the Fed was not more explicit ...

Markets - Commodities - Europe

Raw sugar hovers near five-week low, robusta steady  LONDON: Raw sugar futures on ICE hovered near a five-week low on Thursday, pressured by a rapid cane crush in centre-south Brazil, with dealers focused on cane industry data expected next week, while coffee was little changed.A weaker pound underpinned sterling-based London cocoa.Raw sugar futures held steady near the prior session's five-week low, weighed down by favourable weather in centre-south Brazil, which helped the cane crush there.Dealers said they expected data from Brazilian cane industry ...

Markets - Commodities - Europe

Lower dollar fuels copper's ascent LONDON: Copper climbed on Thursday, boosted by a lower dollar after the U.S. central bank left rates unchanged and some expectations of steady demand in top consumer China.Benchmark copper on the London Metal Exchange traded up 0.5 percent at $4,876 a tonne in official rings. The metal used in power and construction touched a two-week low of $4,830 a tonne on Wednesday.The Fed said near-term risks to the economic outlook had diminished, but gave no ...

Markets - Commodities - Europe

Soybean rebound stalls on low exports, good crop conditions PARIS/SYDNEY: Chicago soybean futures turned lower during European trading on Thursday after weaker than expected weekly US exports and as traders set concerns about dryness in the US Midwest against broadly favourable crop conditions.Soybeans rose early in the session, adding to gains in the two previous sessions as the market recovered from a three-month low earlier in the week.But weaker than anticipated weekly export figures for the current season, and weather forecasts calling for rain ...

Markets - Commodities - Americas

CBOT wheat may test resistance at $4.25 SINGAPORE: CBOT Sept. wheat may test a resistance at $4.25 per bushel, as it has found a support at $4.15-1/4.The support is provided by the 7 percent Fibonacci retracement on the drop from the June 8 high of $5.33-3/4 to the July 20 low of $4.06-1/2, and the resistance by the 14.6 percent level.Not only did wheat hover above the support, but it also climbed above a falling trendline as well. It seems the downtrend ...

Markets - Commodities - Asia

Vietnam coffee falls as traders hold purchases; Indonesia steady HANOI: Vietnam's coffee market fell as traders refused to buy expensive, scarce domestic beans amid easing global prices, while the market was steady in Indonesia, traders said on Thursday. Robusta grade 2, 5 percent black and broken, in Vietnam, the world's top robusta producer, were quoted at discounts of $10-$20 a tonne to ICE September contract, which settled down 0.4 percent at $1,804 per tonne on Wednesday. That's down from parity to the futures earlier ...