06012016Wed
Last update: Wed, 01 Jun 2016 06am

Markets - Commodities

Markets - Commodities - Asia

Palm gains for fourth day out of five, tracking competing oils KUALA LUMPUR: Malaysian palm oil futures rose for a fourth session out of five on Monday, tracking competing vegetable oils and supported by a weaker ringgit .The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange closed up 1.6 percent at 2,600 ringgit ($632) per tonne, after reaching its highest in nearly two weeks at 2,605 ringgit earlier in the day.Traded volumes stood at 41,304 lots of 25 tonnes each, below the 2015 daily average of 44,600.Palm rose 1.2 percent last week after two straight weekly losses."Soyoil was up overnight (Friday) ahead of the US holiday, and there is some ringgit weakness," said a trader in Kuala Lumpur.US markets were closed on Monday for the Memorial Day holiday.The September soybean oil contract on the Dalian Commodity Exchange rose 1.7 percent on Monday, after the Chicago Board of Trade soyoil contract for July gained 1.4 percent on Friday.The ...

Markets - Commodities - Asia

Shanghai copper eyes 5pc slide in May on stronger dollar, softer demand MELBOURNE: Shanghai copper eased on Monday in thin trading, with the London and U.S. bourses shut for a long weekend, and as a stronger dollar and fading Chinese demand dragged prices towards their weakest monthly showing since November.The dollar hit a one-month high against the yen early on Monday and stood tall against other peers after comments by Federal Reserve Chair Janet Yellen enhanced the prospect of a near-term U.S. interest rate hike.The U.S. central ...

Markets - Commodities - Asia

TOCOM edges higher on weaker yen and firmer Shanghai futures TOKYO: Benchmark Tokyo rubber futures edged higher on Monday, helped by a weaker yen after comments by Federal Reserve Chair Janet Yellen raised the prospects of a near-term U.S. interest rate hike."A sharp fall in the yen helped improve the market sentiment while firmer Shanghai futures in the afternoon also lent support," said Toshitaka Tazawa, an analyst at Fujitomi Co.The Tokyo Commodity Exchange (TOCOM) rubber contract for November delivery finished 0.9 yen, or 0.6 percent, ...

Markets - Commodities - Asia

China iron ore, steel bounce off 3-month lows; sentiment stays weak MANILA: Iron ore and steel futures in China recovered from three-month lows to finish higher on Monday, but overall market sentiment remains fragile as supply picks up and seasonal demand wanes.Both commodities are set to end May with their biggest monthly drop on record, as April's rally shifted to a rout after investors pared down optimism toward China's economy."The overall market sentiment remains weak as supply is rising while demand slows down seasonally," said Yu ...

Markets - Commodities - Middle East & Africa

Egypt's local wheat buying at 4.464 million tonnes ABU DHABI: Egypt's government has bought 4.464 million tonnes of local wheat since the start of the season on April 15, the ministry of agriculture said on Monday.The figure surpasses a target of 4 million tonnes that was set by the government at the beginning of the season.The agriculture ministry has said it was committed to buying any wheat that local farmers wished to sell until the season ends. The supply ministry has said it ...

Markets - Commodities - Europe

Russian new wheat export prices up on stronger rouble, benchmarks MOSCOW: Russian wheat export prices rose last week as the rouble strengthened by 1 percent against the dollar and global price benchmarks rose, analysts said on Monday.Black Sea prices for Russian new-crop wheat with 12.5 percent protein content were at $178.5 a tonne on a free-on-board (FOB) basis at the end of last week, up $2 on a week earlier, Russian agricultural consultancy IKAR said in a note.SovEcon, another Moscow-based consultancy, quoted FOB wheat prices ...

Markets - Commodities - Europe

Gold hits 3-1/2 months low on dollar strength after Yellen LONDON: Gold fell below $1,200 for the first time since mid-February on Monday, as comments from Federal Reserve chief Janet Yellen on the likelihood of higher US interest rates sent the dollar to two-month highs.The Fed should increase interest rates "in the coming months" if the economy picks up as expected and jobs continue to be generated, Yellen said on Friday, bolstering the case for a rate hike in June or July.St. Louis Fed President ...