12082016Thu
Last update: Thu, 08 Dec 2016 12pm

Markets - Commodities

Markets - Commodities - Asia

TOCOM hits 1-1/2-year high as Shanghai surges TOKYO: Benchmark Tokyo rubber futures came off early lows to hit 1-1/2-year highs on Monday as a surge in Shanghai futures and metals helped boost investors' risk appetite, dealers said."Shanghai futures jumped again as local funds, or speculators, stepped up buying without any fresh fundamental factors," said a Tokyo-based dealer, who declined to be named."Tokyo rubber prices followed Shanghai's gain as there are apparently some systematic trades that automatically kick in to reflect Shanghai's move," he said, adding it was difficult to predict how far this rally would continue though he thought it had been overdone.The Tokyo Commodity Exchange (TOCOM) rubber contract for May delivery finished up 6.4 yen, or 2.7 percent, at 243.3 yen ($2.17) per kg. Earlier in the session, it hit the highest since June 2015 of 243.7 yen. It fell to a low of 232.1 yen on Friday evening, which is considered part of Monday's trade.The ...

Markets - Commodities - Asia

Soybeans rise 1.2pc on strong US exports, weaker dollar SINGAPORE: Chicago soybeans rose 1.2 percent on Monday and hit their highest since July, buoyed by strong US weekly exports and a weaker dollar.Corn gained about half-a-percent and wheat edged up on the back of the gains in soybeans, although abundant global grain supplies kept a lid on prices.The Chicago Board of Trade's most-active soybean contract had risen 1.2 percent to $10.58 a bushel by 0320 GMT. That was near the session-high of $10.59-1/2 a ...

Markets - Commodities - Asia

Bangladesh raises local rice purchase price DHAKA: Bangladesh raised the price the government will pay to farmers for the upcoming season's rice to 33 taka ($0.42) a kilogram, up from 31 taka a year ago, the food minister said on Sunday.The government will buy 300,000 tonnes of rice from local farmers starting from Dec. 1, Mohammad Kamrul Islam told reporters."The purchase will boost our reserves as well as ensure a fair price for farmers," he said.Such procurement is crucial for the ...

Markets - Commodities - Americas

Exports help soybeans to new 4-month top after US holiday CHICAGO/PARIS: Chicago Board of Trade soybean futures rose on Friday to a new four-month high as stronger than expected weekly exports and an easing dollar provided support as trading resumed after a holiday closure. Soybeans remained firm despite easing soyoil futures, which gave back some of the huge gains from Wednesday when vegetable oils were fired up by increased US biofuel targets. Corn and wheat edged lower as higher than anticipated weekly export sales failed ...

Markets - Commodities - Europe

Europe Distillates-Diesel diffs strengthen on tight supplies LONDON: Diesel barge differentials in northwest Europe firmed on Friday as slower inflows into the region kept the market supported. Refinery turnarounds at Middle Eastern refineries, and unplanned problems at units in the US Gulf, cut into Europe's imports. Gasoil stocks independently held in Europe's Amsterdam-Rotterdam-Antwerp hub fell almost 4 percent to 2.614 million tonnes in the week to Thursday, the latest data from consultancy PJK International showed. Lufthansa said on Friday it had made ...

Markets - Commodities - Americas

Brazil launches campaign to lower tariffs on instant coffee UNA: Brazil's instant coffee industry launched a campaign on Friday to lower tariffs in importing countries with the aim of boosting sales abroad by the world's largest exporter of soluble coffee by 50 percent over the next decade. The country's soluble coffee industry association, Abics, and Brazil's export promotion agency Apex are running the project that will have investments of 1.3 million reais ($380,000).The project will focus on direct trade talks with countries over their ...

Markets - Commodities - Europe

EU wheat hesitant, rapeseed eases from highs PARIS: Western European wheat prices were mostly little changed on Friday as traders made technical adjustments during a holiday lull on US grain markets. Rapeseed futures in Europe again showed sharper movements as a slide in crude oil encouraged rapeseed to pull back from contract highs struck on Wednesday.December milling wheat on the Paris-based Euronext settled unchanged on the day at 168.25 euros a tonne, consolidating below a three-month high of 170.00 euros seen earlier ...