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Last update: Sat, 21 Jan 2017 09am

Markets - Commodities

Markets - Commodities - Americas

Gold rises to 2-week high in light trade after holiday NEW YORK: Gold prices rose on Tuesday to a near two-week high on weak Japanese inflation data, but trading was thin with traders in the United States returning after the long Christmas weekend and London markets still closed.Most analysts believe broad concerns about European banks and uncertainty around US President-elect Donald Trump's policies will likely support gold prices in 2017.However, the price of gold could tumble over the near term if US bond yields continue to climb, they said.Markets including the U.K., Australia, New Zealand and Canada were closed for the holidays on Tuesday.Spot gold was up 0.5 percent at $1,139.42 an ounce by 2:48 p.m. EST (1948 GMT) after hitting its highest since Dec. 14 at $1,148.98 an ounce.US gold futures ended the session 0.45 percent higher at $1,138.80 per ounce.Data showed Chinese industry racked up its strongest profit growth in three months in November, suggesting the world's second-largest ...

Markets - Commodities - Americas

ICE cotton inches down in subdued trading ICE cotton futures edged lower for the second straight session on Tuesday in limited holiday trading, amid a steady dollar."The market is calm with minimal activity due to the holidays," said Rogers Varner, president of Varner Brokerage in Cleveland, Mississippi.Speculators dialed back their bullish cotton stance for the first time in five weeks, reducing it by 9,635 lots to 94,010 lots in the week to Dec. 20, U.S. Commodity Futures TradingCommission data showed on Friday. ...

Markets - Commodities - Europe

European vegoils-Palm oil up with futures on export optimism ROTTERDAM: Palm oil on the European vegetable oils market was mostly firmer on Tuesday, the first trading day following the Christmas break, as Malaysian palm oil futures rose on optimism over exports and due to strength in rival soyoil.Palm oil was mostly offered between flat and $7.50 a tonne up in slow trade as many players were bridging between Christmas and the New Year.Malaysian palm oil futures closed between 29 and 84 ringgit per tonne ...

Markets - Commodities - Europe

European feeds-Soymeal up on South American weather woes ROTTERDAM: Soymeal on the European meals and feeds market was offered higher on Tuesday following strength in CBOT soymeal futures on the back of concerns over weather in South American soybean growing areas. "Prices were mostly window dressing in a very quiet market as many players were absent," one broker said, adding they hadn't seen a single bid. South American soymeal was offered between flat and $4 a tonne up from Friday before the Christmas ...

Markets - Commodities - Asia

Soybean futures firm after weekly loss; Argentine rains miss key area SINGAPORE/PARIS: Chicago soybean futures rose on Tuesday after suffering deep losses last week, with the market underpinned by concerns over poor rainfall affecting Argentina's key crop areas.Wheat jumped 1.3 percent on expectations of strong demand from India, where two years of lower output has depleted stockpiles."Grains and soybeans have opened higher as it is mainly short-covering after the Christmas holiday break," said Kaname Gokon at brokerage Okato Shoji in Tokyo."The drought in Argentina is becoming ...

Markets - Commodities - Asia

Palm soars 2pc on better exports, stronger soy KUALA LUMPUR: Malaysian palm oil gained 2.06 percent by the end of Tuesday's first-half session, buoyed by data showing a slower decline in exports and improved sentiment for rival oils on Dalian and CBOT.Benchmark palm oil futures for March delivery on the Bursa Malaysia Derivatives Exchange rose to 3,123 ringgit ($697.72) per tonne.Last week, the contract logged a 3.2 percent decline, the biggest loss in four weeks.Traded volumes were thin with 12,489 lots of 25 ...

Markets - Commodities - Europe

Strong rouble keeps Russian wheat prices stable MOSCOW: Russian wheat prices were broadly stable for a second consecutive week thanks to a strengthening of the rouble against the dollar, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent protein content for January supply were $182 per tonne on a free-on-board (FOB) basis at the end of last week, down $0.5 from a week earlier, Russian agricultural consultancy IKAR said. SovEcon, another Moscow-based consultancy, quoted FOB wheat at $181.5 ...