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Last update: Tue, 31 May 2016 12pm

Markets - Commodities

Markets - Commodities - Americas

Corn glut in China set to pressure US wheat market LAKIN: China's efforts to cut its domestic corn stocks by shunning imports and alternatives have already roiled US sorghum and renewable fuel markets, and are now poised to hit US wheat prices just as a bumper harvest rolls in. China announced two months ago that it planned to scrap its corn stockpiling system, which had left it with the biggest corn supplies in the world, put premiums on domestic prices and brought a flood of corn and alternative feed imports.Now, sorghum is piled up in Kansas, the top producer in the United States, as farmers who planted a year ago find their hopes of Chinese demand dashed. Total sorghum stocks as of March 1 was at the highest in nearly two decades, USDA data shows, as demand fell off a cliff. Sorghum exports to China dropped to 497,335 tonnes in March 2016 from 1.131 million tonnes a year earlier, USDA ...

Markets - Commodities - Americas

CBOT soybeans climb as meal tops $400/ton on Argentina worries CHICAGO: Chicago Board of Trade soybean futures climbed on Wednesday, setting a one-week top as front-month soymeal futures soared to a 17-month high above $400 per ton on short-covering and worries about Argentine supplies, traders said.Concerns persist about the quantity and quality of soymeal supplies from Argentina, the world's top exporter, after excessive rains last month in the country's soy belt.However, domestic US cash soymeal values have held relatively flat.The CBOT July soybean contract settled ...

Markets - Commodities - Middle East & Africa

Ivory Coast, Ghana cocoa output lower than expected in 2015-16 BAVARO: Ivory Coast and Ghana, the world's top cocoa growers, will produce less cocoa than previously expected in the 2015-16 season, an executive at the International Cocoa Organization (ICCO) said at an industry conference on Tuesday. Ivory Coast is expected to produce 1.65 million tonnes of cocoa in 2015-16, down from a previous forecast of 1.69 million tonnes, and well short of the 1.796 million tonnes grown in the prior season, said Laurent Pipitone, ICCO's ...

Markets - Commodities - Europe

Copper climbs to week high on short covering, tin slides LONDON: Copper prices rose on Wednesday to their highest level in a week as investors bought futures to close positions betting on price falls, unsure about the short-term market direction due to mixed signals from top metals consumer China.The move accelerated after the US market opened, as speculators there also scrambled to cover, traders said. Other metals were weaker, however, including tin, which sank to a three-month low. "By and large the price moves (in ...

Markets - Commodities - Europe

EU wheat supported by US markets and slack farmer selling HAMBURG: European benchmark wheat futures in Paris rose in light volumes on Wednesday, supported by firm US prices in Chicago and underpinned by strong export demand and slow farmer selling in France.Front-month September milling wheat on the Euronext exchange settled up 0.75 euro, or 0.5 percent, at 164.25 euros a tonne."There is still a lot of retention of grain by farmers affecting June delivery and this is continuing to support prices," a French cash broker ...

Markets - Commodities - Europe

Wheat rises for second day as rain threatens US crop HAMBURG/SINGAPORE: US wheat futures rose for a second session on Wednesday, underpinned by forecasts of rain in the US Plains grain belt which could potentially damage crops in the key production region.Soybeans rose on renewed worries about the impact of recent rain damage to Argentina's crop now being harvested. Corn was up on spillover support from the wheat and soybean markets.Chicago Board of Trade most-active July wheat was up 0.5 percent to $4.66-1/2 a bushel ...

Markets - Commodities - Asia

Asia Rice-Thai prices steady on limited supply, Vietnam rates ease HANOI: Thai rice prices held steady at a two-year high on limited supply as drought cut output, while Vietnamese rice eased slightly on expectations of fresh grain, traders said on Wednesday. Quotations for Thai 5-percent broken rice stood at $418-$420 a tonne, free-on-board (FOB) Bangkok, unchanged from last week when the prices hit the highest since May 11, 2014. "Output is still very low because of drought, and it is hard to find rice to ...