05302016Mon
Last update: Mon, 30 May 2016 04am

Markets - Commodities

Markets - Commodities - Asia

India's soybean area seen falling as farmers switch to pulses MUMBAI: Indian farmers are set to reduce the area given over to soybeans by up to 10 percent this year in response to falling prices, pushing up likely imports of edible oils such as palm oil and soyoil. Soybean is the main summer-sown oilseed crop for the world's biggest importer of edible oil, but prices have dropped 10 percent in the past two years, while the prices of pulses such as red gram have nearly tripled over the same period.Lower soybean output will force the country to increase imports of edible oils, supporting their prices. It could also limit India's soymeal exports, given prices for its GMO-free produce are already above international prices.The further price rise due to lower supply could even make imports of soymeal viable for local consumers."In the last two-three years soybeans have given lower returns than competing crops like pulses," said K N Rahiman, chief research ...

Markets - Commodities - Europe

Copper hangs near three-month lows as dollar holds strong MELBOURNE: London copper held near its lowest in three months on Tuesday, pressured by a firmer US dollar following comments by Federal Reserve officials that have bolstered expectations of a June rate hike. The Fed is on track to raise rates in June or July, and will continue with even more hikes next year given US economic strength, a top Fed official said on Monday."In addition to a less accommodative rate environment that should continue ...

Markets - Commodities - Americas

Soybeans ease for 2nd day on US planting progress, fund selling SINGAPORE: Chicago soybean futures lost more ground on Tuesday, falling for four of five sessions as rapidly progressing planting across the US Midwest prompted investors to liquidate some long positions.Corn eased, giving up some of last session's gains, while wheat edged lower although concerns over wet weather in the US Plains kept a floor under the market.Chicago Board of Trade most-active soybean contract dropped 0.8 percent to $10.49-3/4 a bushel by 0831 GMT, having closed ...

Markets - Commodities - Asia

Crude palm oil prices to average 2,500 rgt/tonne in 2016 KUALA LUMPUR: Malaysia's Felda Global Ventures chief executive Zakaria Arshad said on Tuesday crude palm oil prices will average 2,500 ringgit per tonne in 2016, up from 2,275 ringgit last year. Felda, which is the world's third-largest palm plantation operator, on Tuesday reported a first-quarter net loss of 65.5 million ringgit ($16 million) due to low yields from a crop damaging El Nino, compared with 3.57 million ringgit in net profit over the same period ...

Markets - Commodities - Americas

Gold touches 3-1/2-week low on Fed rate expectations NEW YORK/LONDON: Gold dipped to a 3-1/2-week low on Monday as expectations rose that the US Federal Reserve will hike interest rates as early as June, but prices came off their lows as late-day short-covering entered the market.Bullion has been under pressure since the Fed last week released the minutes of its April meeting, which showed officials believe the US economy could be ready for another rate increase next month.Higher interest rates increase the opportunity ...

Markets - Commodities - Europe

EU crop monitor holds wheat yield forecast steady PARIS: The European Union's crop monitoring service on Monday left unchanged its forecast for above-average yields in this year's EU soft wheat harvest, pointing to broadly favourable growing conditions despite some cold, wet spells. The MARS service kept its estimate of the soft wheat yield in the 28-country bloc at 6.11 tonnes per hectare (t/ha).This was 2.6 percent below the level seen last year, when the EU reaped a record harvest, but 4.8 percent above ...

Markets - Commodities - Americas

US corn plantings seen 88 pct complete in latest week CHICAGO: The US Department of Agriculture's weekly crop progress report is expected to show US corn planting as 88 percent complete and soybean planting 55 percent complete as of May 22, according to the average of estimates from 12 analysts polled by Reuters.Corn planting estimates ranged from 85 to 96 percent and soybean planting estimates ranged from 50 to 64 percent.The corn crop was 75 percent planted by May 15, the USDA said in its ...