09292016Thu
Last update: Thu, 29 Sep 2016 11pm

Markets - Commodities

Markets - Commodities - Europe

EU wheat at new 7-month low, Russian exports deepen bearish mood PARIS: Euronext wheat futures slipped to a fresh seven-month low on Tuesday as plans by Russia to remove an export tax as early as next week underlined stiff competition in a well-supplied world market.Egypt's purchase of Russian and Romanian wheat in a tender, coupled with falling U.S. prices and a firm euro, also showed the challenge in clinching fresh sales for western European wheat, despite a record export pace so far this season.Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), bought 120,000 tonnes of Russian and Romanian wheat on Tuesday in a tender for shipment on June 16-25.GASC overlooked French wheat, which has been most popular choice for the Egyptian agency this season, in a further sign of sagging demand for the European Union's top wheat exporter."Black Sea prices are clearly the most competitive, but even U.S. wheat is not miles off, hence Matif (Euronext) and French ...

Markets - Commodities - Americas

Wheat, corn sink as US weather helps crops; soy firm CHICAGO: US wheat futures sank 2.1 percent on Tuesday, flirting with five-year lows after rain in key production areas boosted harvest prospects as the crop nears maturity, traders said.Poor export demand for US supplies and strong yield projections from early results of a crop tour through Kansas also pressured the market.Egypt on Tuesday said it bought Russian and Romanian wheat in its latest deal that totaled 120,000 tonnes, again bypassing US offerings."It was pretty widely ...

Markets - Commodities - Europe

Gold up one percent as dollar pauses; focus on US jobs data LONDON: Gold rose one percent on Tuesday as the dollar paused and global shares fell ahead of U.S. non-farm payroll data later in the week that could give clues as to when the Federal Reserve will raise interest rates.Spot gold fell initially then firmed 0.8 percent to $1,197.23 an ounce by 1439 GMT. U.S. gold futures for June delivery were up $10.70 an ounce at $1,197.40."Gold was firm yesterday and is continuing the trend today, ...

Markets - Commodities - Europe

White sugar adjusts down after holiday, arabicas flat LONDON: White sugar futures adjusted lower on Tuesday after a public holiday during which raw sugar tumbled 3 percent, while arabica coffee traded little changed, pressured by a weak Brazilian currency and the raising of a crop forecast by a trade house.Cocoa moved little in light volumes.White sugar adjusted to the slide in raw sugar futures seen on Monday, when London softs markets were shut for a holiday.Raw sugar futures edged up, with traders focused ...

Markets - Commodities - Middle East & Africa

Egypt's GASC buys 120,000 tonnes of Russian, Romanian wheat ABU DHABI: Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Tuesday it had bought 120,000 tonnes of Russian and Romanian wheat in a tender for June 16-25 shipment. Egypt, the world's biggest importer of wheat, bought 60,000 tonnes of Russian wheat from Vitol and 60,000 tonnes of Romanian wheat from Cargill, Mamdouh Abdel Fattah, GASC vice-chairman, said. The wheat was purchased at an average price of $205.76 a tonne on ...

Markets - Commodities - Asia

Vietnam coffee premiums rise as May shipments seen steady HANOI: Premiums for Vietnamese coffee widened this week as domestic prices weakened in line with London robusta futures, with underlying demand for the country's beans helping to keep exports nearly steady with the previous month. Vietnamese robusta eased to 37,300-38,500 dong ($1.72-$1.78) per kg in Daklak, Vietnam's top growing province, from 39,000-39,300 dong last Tuesday.The drop came after the ICE July robusta contract closed down 1.1 percent at $1,772 a tonne on Friday.London markets were ...

Markets - Commodities - Asia

NY cocoa neutral in $2,858-$2,900 range SINGAPORE: New York July cocoa looks neutral in a range of $2,858-$2,900 per tonne, and an escape will point a direction. The range has been formed by the 38.2 percent and the 23.6 percent Fibonacci retracements on the uptrend from the March 31 low of $2,682 to the May 1 high of $2,967. The bias is towards the downside, following the sharp fall from the May 1 high of $2,967, which confirms the completion of ...