06292016Wed
Last update: Wed, 29 Jun 2016 09pm

Markets - Commodities

Markets - Commodities - Asia

Gold holds near two-week low as Britain votes on EU decision BENGALURU: Gold edged up after touching a fresh two-week low early on Thursday on cautious optimism that British voters would opt to stay in the European Union.A vote to leave the 28-member bloc could tip Europe back into recession, putting more pressure on the global economy and increasing the appeal of bullion as a counter-cyclical asset.Polling will take place between 0600-2100 GMT on Thursday, with the results expected early on Friday.Spot gold was up 0.3 percent at $1,269.60 an ounce by 0644 GMT. Bullion touched a low of $1,260.36 earlier in the session, its worst since June 9.US gold was up 0.2 percent at $1,272."In the near term, gold appears heavily focused on the United Kingdom referendum vote and will likely move according to the results," HSBC analyst James Steel said in a note."Once the effects of the referendum results pass, we would expect that gold will eventually focus back ...

Markets - Commodities - Americas

Brazil to take steps to assuage shortage of beans, corn SAO PAULO: The Brazilian government will cut taxes and scrap import controls on certain key staples to mitigate the impact of slowing production, senior officials said on Wednesday. Some of the steps include raising minimum corn prices and eliminating bean import limits from China and Mexico, Agriculture Minister Baliro Maggi said at a news conference in Brasilia.Prices for beans, one of Brazil's most consumed staples, have tripled this year in the wake of a production ...

Markets - Commodities - Europe

EU wheat down on euro strength, uncertainty before Brexit vote HAMBURG: European wheat futures fell to their lowest in about a month on Wednesday, hurt by an export-punishing rise in the euro in volatile markets ahead of Britain's vote on whether to stay in the European Union.September milling wheat on the Paris-based Euronext exchange unofficially closed down 1 euro or 0.6 percent at 161.50 euros a tonne. It earlier dropped to 161.00 euros, the lowest since May 23."The market continues to move in line with ...

Markets - Commodities - Americas

Canada seen easing wheat plantings, maintaining canola area WINNIPEG: Canadian farmers planted slightly less wheat for harvest this year than they did last year, and about the same area of canola, according to a Reuters survey of 13 traders and analysts.Statistics Canada will report on crop plantings on June 29, based on a farmer survey.Farmers are rotating canola plantings into their fields as often as possible due to favorable returns, and spring wheat prices looked less attractive prior to spring, said Lawrence Klusa, ...

Markets - Commodities - Asia

Corn around 1-month low, Black Sea quality concerns firm wheat SINGAPORE: US corn futures hovered around their lowest in around a month on Wednesday, but with some bargain-buying support after a dramatic fall of almost 6 percent on Tuesday caused by improving US crop weather.Wheat firmed on concerns over possible quality damage to the Black Sea region crop, while soybeans rose on strong export demand for US supplies, especially from China.The Chicago Board of Trade July corn contract corn was down 0.1 percent at 3.95-1/2 ...

Markets - Commodities - Asia

China sells 17,500 T cotton at state reserves auction BEIJING: China sold a total of 17,500 tonnes of cotton from state reserves at an auction on Wednesday, according to a statement posted on a cotton industry website. The amount sold represents 97 percent of the total amount of cotton available at Wednesday's auction, and was sold at an average price of 12,230 yuan ($1,859.57) per tonne, according to the cncotton.com website. A total of 23,200 tonnes was sold at an auction on Tuesday, more ...

Markets - Commodities - Europe

Algeria buys 450,000-500,000 t milling wheat for Sept shipment PARIS: Algeria's state grains agency OAIC bought around 450,000 to 500,000 tonnes of milling wheat for September shipment in a tender that closed on Tuesday, paying between $199 and $200 a tonne, including cost and freight, traders said on Wednesday. The origin of the wheat is optional but traders said the wheat was likely to come from Baltic countries due to concerns on the quality of the crop in France, Algeria's main supplier, and a ...