09282016Wed
Last update: Wed, 28 Sep 2016 03am

Markets - Commodities

Markets - Commodities - Asia

Palm oil gains on lower output, better-than-forecast exports KUALA LUMPUR: Malaysian palm oil futures on Thursday are on track for a fourth session of gains in five, on expectations of lower output and better-than-forecast export demand.Palm declined in the previous session after charting three consecutive days of gains. It hit a five-month high of 2,728 ringgit in early trade on Wednesday.Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange gained 0.2 percent to 2,683 ringgit ($653) a tonne at the midday break, and is up 3.4 percent for the week.Traded volumes stood at 15,452 lots of 25 tonnes each."The belief is that production is lower (on average) and exports on-month is quite good. The uptrend is still intact," said a trader from Kuala Lumpur."The only problem is that soyoil and palm oil spread is narrowing, thus capping any rallies."A narrowing spread makes soy a more attractive option for consumers.Palm oil output has been rising in ...

Markets - Commodities - Asia

Global palm oil output to recover in H1 2017 as El Nino effects fade KUALA LUMPUR: Global palm oil production will recover in 2017, increasing by 4 million tonnes in the first half of next year from the same time in 2016, said leading industry analyst James Fry, after the crop damaging El Nino weather event reduced output this year.Rising palm oil production could dampen benchmark palm oil prices, which hit a five-month high on tight market supplies in early trade on Wednesday.Palm futures rose 0.2 percent to 2,683 ...

Markets - Commodities - Americas

Brazil government trims 2016 coffee crop view to 49.6mn bags SAO PAULO: Brazil's crop supply agency Conab forecast the country's 2016 coffee output at 49.64 million bags on Wednesday, down slightly from its May forecast, after losses from drought in robusta growing regions eclipsed gains in arabica areas. Despite better than expected gains in leading arabica growing regions in Minas Gerais, the state which produces 50 percent of Brazil's coffee, bigger losses in robusta growing areas prompted the agency to trim its estimate. The forecast ...

Markets - Commodities - Americas

CBOT Trends-Wheat down 2-3 cents, corn down 1-2, soybeans down 2-4 CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Wednesday. NOTE: The US Federal Reserve's two-day policy meeting concludes with an interest rate decision at 1 p.m. CDT (1800 GMT). Friday is the last trading day for CBOT October options. WHEAT - Down 2 to 3 cents per bushel Lower in sideways trade; following early ...

Markets - Commodities - Europe

Copper softens on profit-taking ahead of Fed meeting LONDON: Copper retreated as profit-taking pulled it from four-week highs ahead of a key US Federal Reserve policy meeting later on Wednesday. Benchmark copper on the London Metal Exchange failed to trade in official rings and was bid down 0.7 percent at $4,758 a tonne, paring small gains made in the previous session. The US central bank is widely expected to hold interest rates unchanged at 0.25 percent to 0.50 percent, but could hint at ...

Markets - Commodities - Europe

European vegoils-Palm oil prices fall as export pace slows LONDON: Palm oil prices in Europe were lower on Wednesday, weighed by a weaker export outlook and a decline in Malaysian futures earlier in the day. Sellers of RBD palm olein raised offers by $5 to $7.50 per tonne with January/March shipment last traded at $665, down $4 from Tuesday. Crude palm oil asking prices were $5 to $15 a tonne lower.Exports of Malaysian palm oil products for Sep. 1-20 fell 12.2 percent to 917,288 ...

Markets - Commodities - Asia

Higher demand to push up India's palm oil imports in 2016/17 PANAJI: India's palm oil imports in 2016/17 are likely to rise 9 percent to 9.24 million tonnes from a year earlier, as a growing population and higher income levels drive up edible oil consumption, a leading industry analyst said on Wednesday. Higher purchases by India, the world's biggest importer of cooking oils, could further push up benchmark palm oil prices , which are already trading near a five-month high. "Per capita consumption (of edible oils) ...