05262016Thu
Last update: Thu, 26 May 2016 01pm

Markets - Commodities

Markets - Commodities - Europe

Gold hits 3-1/2 week low as US rate hike outlook weighs LONDON: Gold fell to a 3-1/2 week low on Tuesday as hawkish comments from Federal Reserve officials in the previous session sent the dollar to a two-month high against a currency basket.The prospect of an early rate hike, as indicated by Fed meeting minutes released last week, and a strengthening dollar have pushed gold down nearly 4 percent so far in May, putting it on track for its biggest monthly decline since November.Gold is highly sensitive to rising interest rates, which lift the opportunity cost of holding the non-yielding metal, while boosting the dollar, in which it is priced.Spot gold was down 0.6 percent at $1,241.80 an ounce at 1140 GMT, while US gold futures for June delivery were down $9.40 an ounce at $1,242.10."We had more hawkish noises yesterday, with a trio of Fed speakers lining up to say that June or July are live meetings for considering a ...

Markets - Commodities - Europe

Soybeans ease for 2nd day on US planting, firm dollar PARIS/SINGAPORE: Chicago soybean futures lost more ground on Tuesday as rapidly progressing planting in the US Midwest prompted investors to close out some long positions after a recent rally fuelled by weather damage to Argentina's harvest.Renewed strength in the dollar, which approached a two-month high on fresh expectations of an upcoming US interest rate rise, and concerns over faltering growth in China also curbed soybean and cereal prices.Corn edged lower as US planting remained above ...

Markets - Commodities - Americas

Brazil's 2016 coffee crop seen up 15pc at 49.67mn bags SAO PAULO: Brazil's 2016 coffee crop that began harvesting a few weeks ago is forecast at 49.67 million 60-kg bags, up 15 percent from last season's drought damaged harvest of 43.24 million bags, the Agriculture Ministry's crop supply agency Conab said on Tuesday.In the second of four annual estimates, Conab refined its forecast of output toward the lower end of its projection in January of a crop within the range of 49.13 million bags and ...

Markets - Commodities - Europe

Copper up on short covering but higher dollar limits rise LONDON: Copper rose on Tuesday as traders and funds reversed bets on lower prices though gains were capped by a stronger dollar and uncertainty over demand growth in top consumer China.Benchmark copper on the London Metal Exchange traded up one percent at $4,610 a tonne in official rings, having last week touched a three-month low at $4,540.Copper's failure to fall below support in the $4,525/$4,575 area was the trigger for cutting short positions and going ...

Markets - Commodities - Asia

China steel, iron ore hit 12-week lows as weak demand, glut weigh MANILA: Iron ore and steel futures in China fell to 12-week lows on Tuesday as sputtering steel demand has trapped traders that restocked heavily during last month's price rally with unwanted products. The two commodity futures have lost 30 percent from their peaks in April when bets fuelled by faith in the world's No. 2 economy lifted volumes and prices and prompted China's commodity exchanges to impose trading curbs. Steel-making raw materials, coking coal and ...

Markets - Commodities - Asia

India's soybean area seen falling as farmers switch to pulses MUMBAI: Indian farmers are set to reduce the area given over to soybeans by up to 10 percent this year in response to falling prices, pushing up likely imports of edible oils such as palm oil and soyoil. Soybean is the main summer-sown oilseed crop for the world's biggest importer of edible oil, but prices have dropped 10 percent in the past two years, while the prices of pulses such as red gram have nearly ...

Markets - Commodities - Europe

Copper hangs near three-month lows as dollar holds strong MELBOURNE: London copper held near its lowest in three months on Tuesday, pressured by a firmer US dollar following comments by Federal Reserve officials that have bolstered expectations of a June rate hike. The Fed is on track to raise rates in June or July, and will continue with even more hikes next year given US economic strength, a top Fed official said on Monday."In addition to a less accommodative rate environment that should continue ...