05242016Tue
Last update: Tue, 24 May 2016 10pm

Americas

Markets - Commodities - Americas

Sugar rallies before Brazil Senate vote, coffee taps highs NEW YORK/LONDON: ICE raw sugar rallied nearly 5 percent and neared a 1-1/2-year high on Wednesday as speculators bought on expectations that the Senate in top grower Brazil will suspend President Dilma Rousseff, supporting the country's currency.Brazil is also the biggest producer of arabica coffee, but this market largely shrugged off the country's political turmoil and the slightly higher real, and inched up to a three-week high. Robusta coffee reached a six-month top.Cocoa prices fell, bucking the day's trend in commodities as the 19-market Thomson Reuters CoreCommodity Index jumped for the second straight session and the U.S. dollar fell."The expectation for an impeachment vote in the Senate later today is certainly lending a bullish atmosphere to the sugar market," said Carlos Mera, senior commodity analyst at Rabobank in London.Rousseff was expected to become Brazil's first leader in more than two decades to be removed from office as the Senate prepared ...

Markets - Commodities - Americas

Gold moves off two-week low as dollar slips, shares retreat NEW YORK/LONDON: Gold rebounded from two-week lows on Wednesday as the dollar's rally paused and global shares fell, rekindling investors' appetite for the precious metal.Spot gold rose 0.8 percent to $1,275.50 an ounce by 2:03 p.m. EDT (1803 GMT), while US gold for June delivery settled up 0.8 percent at $1,275.50 an ounce. The metal touched a low of $1,257.25 on Tuesday, its weakest since April 28."Today's move is mostly about the dollar and equities ...

Markets - Commodities - Americas

Soy retreats from multi-month highs; corn, wheat follow CHICAGO: US soybean and corn futures declined on Wednesday in a light profit-taking setback, one day after bullish soy stocks data in a monthly US government report sent soybeans soaring to the highest levels since 2014.Wheat also sagged, pressured by plentiful global supplies and the approach of the US harvest.At the Chicago Board of Trade, July soybeans settled down 5-3/4 cents at $10.78-1/4 per bushel. July corn fell 3-1/2 cents to $3.77-1/2 a bushel and ...

Markets - Commodities - Americas

Brazil green coffee exports drop 22pc in April SAO PAULO: Brazil exported 2.15 million 60-kg bags of green coffee in April, down 22 percent from a revised 2.76 million bags shipped in March, as drought-hit stocks dwindled heading into harvest, coffee export association Cecafe said on Wednesday.Arabica beans accounted for 2.09 million 60-kg bags of last month's exports, down 23 percent from March, while robusta beans accounted for 59,214 bags, up 0.5 percent from the month prior.Nelson Carvalhaes, president of Cecafe, said exports ...

Markets - Commodities - Americas

Robusta coffee equals 6 months peak on Asia crop concerns NEW YORK/LONDON: Robusta coffee futures matched the prior session's six-month high on Tuesday, with the market boosted by concern about dry weather in key producers Vietnam and Indonesia, while arabica rose for the fifth straight day.Sugar and cocoa prices were also higher, joining the firm 19-market Thomson Reuters CoreCommodity Index.July robusta coffee settled up $25, or 1.5 percent, at $1,660 per tonne after touching Monday's six-month high for the second month of $1,665. The upward ...

Markets - Commodities - Americas

Gold near 2-week low on firm dollar, equities NEW YORK/LONDON: Gold fell to a near two-week low on Tuesday, after its steepest loss since March in the prior session, as a firm dollar and higher equities curbed appetite for the precious metal.Bullion turned quietly positive in late-day dealings after falling in five out of the past six sessions, failing to fully benefit from data last week showing that the US economy added the fewest jobs in seven months in April.Spot gold was up ...

Markets - Commodities - Americas

US soy soars to 18-month top as USDA tightens stocks view CHICAGO: US soybean futures surged more than 5 percent to their highest level in 18 months on Tuesday after the US Department of Agriculture forecast that domestic stocks would fall more than most analysts expect by the end of the 2016/17 marketing year.Corn and wheat futures followed soybeans higher, although the USDA's outlook for wheat was bearish.At the Chicago Board of Trade, most-active July soybean futures settled up 57-1/2 cents at $10.84 per bushel. The ...