06262016Sun
Last update: Sun, 26 Jun 2016 12am

Markets - Commodities

Markets - Commodities - Asia

India plans to import 500,000 T of corn to overcome shortage NEW DELHI: India is considering importing an extra 500,000 tonnes of duty-free corn to overcome a shortage after a second straight drought cut output, a government source said on Wednesday.India is traditionally a major corn exporter to Southeast Asia, but higher local prices because of the drought and rising domestic demand have halted exports and forced it to import.In its first international tender, government-backed trader PEC awarded a contract to South Korea's Daewoo International to supply 250,000 tonnes of duty-free yellow non-genetically modified corn."Indian corn prices have shot up massively and actual users have asked us to facilitate corn imports. That's why the talk of another 500,000 tonnes of imports has started," the official said.Local corn prices have jumped about 15 percent so far in June.The government source, who was not authorized to speak to the media, also said that India was likely to scrap its latest tender to import ...

Markets - Commodities - Asia

TOCOM climbs on firmer oil rates, higher Shanghai futures TOKYO: Benchmark Tokyo rubber futures climbed on Wednesday, backed by firmer oil prices and higher Shanghai futures, but trade was light as investors nervously eyed Britain's EU membership referendum due on Thursday.The Tokyo Commodity Exchange (TOCOM) rubber contract for November delivery finished up 1.9 yen, or 1.2 percent, at 155.7 yen ($1.49) per kg.Behind the rise were stronger oil prices and gains in overseas rubber markets, said a Tokyo-based dealer.Oil prices rose during Asian trading ...

Markets - Commodities - Asia

Asia Rice-Prices dip in India, Thailand after major auction HANOI: Rice export prices eased this week in India and Thailand on thin buying demand, while Vietnamese sellers raised quotations slightly as their grain quality improved, traders said on Wednesday.Supply from India, Thailand and Vietnam, the world's biggest exporters, accounted for a combined 66 percent of the global rice trade in 2015, according to the U.N. Food and Agriculture Organization.India's 5 percent broken parboiled rice prices weakened this week to $380-$390 a tonne, free-on-board (FOB) ...

Markets - Commodities - Asia

CBOT wheat to revisit June 21 low of $4.57-1/4  SINGAPORE: CBOT July wheat is expected to revisit its June 21 low of $4.57-1/4 per bushel, as suggested by its wave pattern and a Fibonacci projection analysis.The fall from $4.79-3/4, an hourly chart high touched on June 20, consists of five waves, which have been unfolding within a falling channel. The channel line points a target range of $4.51-$4.54, formed by the 338.2 percent and the 300 percent Fibonacci projection levels of the first wave ...

Markets - Commodities - Asia

NY sugar may drop to 18.73 cents SINGAPORE: New York July sugar may drop to 18.73 cents per lb, as suggested by a Fibonacci projection analysis.The analysis is on the uptrend from the May 25 low of 16.42 cents to the June 16 high of 20.15 cents. It reveals sugar has broken a support at 19.27 cents, the 23.6 percent level. The next support will be at 18.73 cents, the 38.2 percent level.Resistance is at 19.27 cents, the 23.6 percent level, a ...

Markets - Commodities - Asia

Bangladesh tea prices rally for sixth week on quality leaf  DHAKA: Bangladesh tea prices rose for a sixth straight weekly auction on Tuesday on strong demand for quality leaf despite a higher volume on offer, brokers said.Bangladesh tea fetched an average of 248.26 taka ($2.7) per kg at the auction, the ninth of the new marketing season, up from 245.04 taka in the previous sale.Strong demand was seen throughout the sale and prices advanced further due to competition, the National Brokers said in a market ...

Markets - Commodities - Europe

South Korea's KOCOPIA buys about 55,000 T corn: trade HAMBURG: South Korea's Korea Corn Processing Industry Association (KOCOPIA) purchased about 55,000 tonnes of yellow corn in a tender which closed on Wednesday, European traders said.The corn was purchased at $209.50 a tonne c&f, they said.The corn with genetically-modified organisms (GMOs) was sought for arrival around Sept. 10, they said.KOCOPIA had rejected all offers and made no purchase in a corn tender for the same volume and delivery period which closed on Tuesday.Copyright Reuters, 2016 ...