07292016Fri
Last update: Fri, 29 Jul 2016 08pm

Markets - Commodities

Markets - Commodities - Asia

Bangladesh tea prices fall amid ample supply DHAKA: Tea prices in Bangladesh fell about 1 percent at the weekly auction on Tuesday as volumes on offer were at their highest level of the season.Bangladesh tea fetched an average of 212.48 taka ($2.8) per kg at the auction, the 13th of the new marketing season, compared with 214.23 taka in the previous sale.A larger quantity of tea was on offer which was well absorbed at slightly lower rates, National Brokers said in a market report.About 2.3 million kg were offered at the sole auction centre in Chittagong, of which about 8 percent was unsold. In the previous auction, about 8 percent of the 2 million kg on offer was unsold.Bangladesh has moved from being a net exporter to a net importer of tea due to rising consumption.Copyright Reuters, 2016

Markets - Commodities - Americas

CBOT wheat may retest support at $4.06-1/2 SINGAPORE: CBOT Sept. wheat may retest a support at $4.06-1/2 per bushel, as it could have completed a bounce caused by this level.The support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the June 8 high of $5.33-3/4.This wave may have resumed, after the bounce from the July 20 low of $4.06-1/2 failed to extend above the 14.6 percent level at ...

Markets - Commodities - Asia

Gold eases on firm dollar, stocks; Fed rate policy in focus BENGALURU: Gold edged slightly lower on Wednesday as the dollar and equities firmed ahead of the US Federal Reserve's policy decision due later in the day when it is expected to keep interest rates unchanged.The Fed is likely to defer any possible increase until September or December, as policymakers hold out for more evidence of a pickup in inflation.Asian stocks settled near one-year highs on Wednesday while the safe-haven yen slumped after Japan's government announced ...

Markets - Commodities - Americas

Brazil 2016/17 soy area should grow modestly SAO PAULO: The area planted with soy in Brazil in 2016/17 should grow 2 percent to 33.8 million hectares as some farmers favor corn, Chicago-based analysts AGR Brasil told Reuters on Tuesday.Brazil is facing a corn shortage, driving local prices up to record highs and changing a trend of farmers favoring soybeans in recent years.Soy planting will start in late September but farmers need to finalize their decisions now."The increase in summer corn, in our ...

Markets - Commodities - Europe

European vegoils-Palm oil boosted by strong rise in Malaysia PARIS: Vegetable oils on the European market rose on Tuesday, following palm oil futures in Malaysia and boosted by the country's commitment to raise the minimum bio content in biodiesel, which will lift palm oil consumption, traders said. Palm oil was mostly offered between $5 and $12.50 a tonne higher from Monday after easing the previous day in the wake of Chicago. Sellers lifted RBD palmkernel offers by $10 to $15 per tonne and palm ...

Markets - Commodities - Europe

Europe robusta coffee trade slows, but Indonesia picks up LONDON: Physical robusta coffee trade in Europe has begun to slow ahead the summer holiday period in the region, although traders said flows of Indonesian robusta have picked up after a futures rally and a late start to the harvest. Cash trade was slow in Europe with a number of factories set to shut for a few weeks during the peak holiday period. Robusta differentials have risen as futures slid from a 16-month peak touched ...

Markets - Commodities - Americas

US wheat tumbles on ample supplies, Euronext declines CHICAGO: Chicago Board of Trade wheat futures plunged as much as 3 percent on Tuesday, heading for their largest daily losses in three weeks on pressure from ample global grain supplies and following declines in Euronext wheat, traders said. Wheat on the Paris exchange was heading for its second straight session of steep losses, correcting after hitting the highest levels since January on Monday. Reduced estimates for the harvest in the top exporting region of ...