05292016Sun
Last update: Sun, 29 May 2016 10am

Markets - Commodities

Markets - Commodities - Europe

EU wheat edges up after Chicago gains  PARIS: European wheat futures were slightly higher on Tuesday, supported by stronger US markets and the euro's weakness against the dollar but plentiful harvest prospects capped prices, traders said.After trading in negative territory in morning trade, September milling wheat on Paris-based Euronext was 0.3 percent higher by 1618 GMT at 163.50 euros a tonne.French brokers also pointed to a rise in current season prices on the cash market due to a strong export momentum and a lack of sellers.However, crop prospects weighed on prices."We are unable to be bullish. There is a good density in crops but we can't deny some disease problems," a trader said.US wheat futures rebounded from overnight declines, helped by strong corn demand and rain soaking maturing US wheat crops.Maize futures rose with benchmark August up 1.2 percent, buoyed by expectations of a lower ending stock due to a series of unexpected exports, notably to South ...

Markets - Commodities - Asia

TOCOM rebounds from three-month low on short-covering TOKYO: Benchmark Tokyo rubber futures closed slightly higher in thin trade on Tuesday, bouncing back from a three-month low touched earlier in the session, as investors covered short positions after prices fell sharply in the past month, dealers said.Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, have lost more than 20 percent since an April high of 205.1 yen, weighed down by fears over weak demand in ...

Markets - Commodities - Asia

Vietnam Coffee-Premiums rise, rain returns to key growing area HANOI: Vietnamese coffee premiums rose slightly this week following a drop in robusta futures, while the country's exports of the commodity have jumped by around a third, according to traders and government data.The rainy season has returned to most of the Central Highlands coffee belt, responsible for at least 80 percent of Vietnam's coffee output, state forecasters said.The rain has contributed to easing global coffee prices. ICE July robusta settled down 1 percent at $1,643 ...

Markets - Commodities - Asia

Palm recovers from 3-month low on ringgit, other oils KUALA LUMPUR: Malaysian palm oil futures recovered from the previous session's near three-month low on Tuesday, supported by a weaker ringgit while gains in rival oils also boosted sentiment.The contract for August delivery on the Bursa Malaysia Derivatives Exchange had risen 0.4 percent to 2,503 ringgit ($608) per tonne at the end of the trading day. It hit its lowest level since March 3 on Monday, dragged down by losses in Chinese vegetable oils.Traded volume ...

Markets - Commodities - Middle East & Africa

Kenya sees 2016 tea output up to 15pc on heavy rains: regulator NAIVASHA: Kenya expects production of tea to jump 10 to 15 percent this year to 430 million to 450 million kg on the back of heavy rains associated with the el Nino weather phenomenon, the agriculture industry regulator said on Tuesday.The East African nation is the world's No. 1 exporter of black tea and the crop is its top foreign exchange earner. It earned 125.25 billion shillings ($1.24 billion) from tea exports last year.Alfred Busolo, ...

Markets - Commodities - Europe

Cocoa extends rally, sugar eases on nerves over funds position LONDON: Cocoa futures rose on Tuesday, boosted by a sharp widening in July London's premium to September this week, while raw sugar futures eased, pressured by nerves over a big net long position held by funds.Coffee firmed, underpinned by a poor robusta crop in Brazil.Cocoa extended Monday's rally, and was supported by concerns over a poor West African mid crop."The main thing is the spike in July/Sep yesterday which is the catalyst to maybe make ...

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 ...