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Last update: Sat, 23 Jul 2016 10pm

Markets - Commodities

Markets - Commodities - Asia

Gold holds on to overnight losses as risk-on mood drags BENGALURU: Gold was mostly unchanged on Tuesday, holding on to its losses from the previous session as a pickup in investor appetite for risky assets capped demand for the precious metal.Gold shed almost a percent on Monday, when stock markets in the United States logged record highs amid hopes that a decline in US corporate earnings was bottoming out - dragging on bullion's safe-haven appeal.As of 0645 GMT on Tuesday, spot gold was up 0.1 percent at $1,330 an ounce, while US gold was 0.1 percent higher at $1,330.80 an ounce."It's that allure of risk-on environment that we are in which is weighing on the gold prices. What we saw on Monday was a bit of a reaction to Friday's solid US retail numbers," said Dominic Schnider of UBS Wealth Management in Hong Kong."We shouldn't forget that people have already piled in tremendously, be it the futures or the ETFs. ...

Markets - Commodities - Asia

Japan offers to buy 165,048 tonnes food wheat via tender TOKYO: Japan's Ministry of Agriculture is seeking to buy a total of 165,048 tonnes of food quality wheat from the United States, Canada and Australia in a regular tender that will close late on Thursday.Japan, the world's sixth-biggest wheat importer, keeps a tight grip on imports of the country's second most important staple after rice and buys the majority of the grain for milling via tenders typically issued three times a month.Copyright Reuters, 2016

Markets - Commodities - Asia

TOCOM falls on weak oil prices, stronger yen TOKYO: Benchmark Tokyo rubber futures ended 0.6 percent lower on Tuesday as the market came under pressure from weak oil prices and a stronger yen against the dollar. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, were also pressured by early losses in Shanghai futures, which ended higher at the close.A stronger yen makes Japanese currency-denominated assets more expensive when purchased in other currencies."The market is thin ...

Markets - Commodities - Americas

CBOT wheat may stabilise around $4.24-1/2 before rising SINGAPORE: CBOT Sept. wheat may stabilise around a support at $4.24-1/2 per bushel, before resuming its rally towards a resistance at $4.29-1/2, as suggested by its wave pattern and a Fibonacci retracement analysis.The bounce from the July 5 low of $4.15-3/4 is against the downtrend from the June 8 high of $5.33-3/4. It consists of three waves, with the third wave labeled C having just started.A Fibonacci retracement analysis on the rise from $4.15-3/4 to ...

Markets - Commodities - Asia

Vietnam Coffee-Prices drop tracking global market, buying stable HANOI: Vietnamese coffee prices dropped on Tuesday in line with global trends, while buying by foreign importers remained stable following strong exports so far this year, traders said. Domestic coffee prices dropped to 38.3 million to 38.5 million dong ($1,720 to $1,729) a tonne on Tuesday, from 38.6 million to 38.9 million dong a week ago, tracking the global futures market.Robusta coffee futures turned lower on Monday after finding early support from a poor harvest ...

Markets - Commodities - Asia

Palm oil falls on weak yuan, demand worries JAKARTA: Malaysian palm oil futures fell on Tuesday, after a brief recovery, as the weak Chinese yuan is seen hurting demand amid signs of waning exports.Benchmark palm oil futures on the Bursa Malaysia Derivatives Exchange were down 0.9 percent to 2,258 ringgit ($566.13) per tonne by the mid-day break.Prices had climbed to a one-week high of 2,299 on Friday, after hitting a 10-month low of 2,186 ringgit earlier last week."The story on yuan did contribute ...

Markets - Commodities - Asia

CBOT soybeans signals mixed SINGAPORE: Signals are mixed for CBOT soybeans November contract, as it has stabilized around the July 15 low of $10.32-1/2 per bushel.The stabilization indicates an extension of the uptrend from the July 8 low of $10.21, which may consist of three small waves, with the third wave labelled c having just started.However, the extension could only be confirmed when the contract breaks $10.67, the 38.2 percent Fibonacci retracement on the fall from the July 14 ...