02082016Mon
Last update: Mon, 08 Feb 2016 09pm

Americas

Markets - Commodities - Americas

US wheat export outlook bearish on dollar, world supply CHICAGO: US wheat exports are down about 30 percent from last year and prospects for business picking up look bleak given the strong dollar and ample supplies overseas, traders and analysts say.Exporters had hoped slow sales would improve in February and March when competitors like Russia, Ukraine and France usually start running out of wheat. But that hasn't happened this season.The biggest culprit is the strong dollar, which hurts wheat more than any other U.S. grain crop since it is grown widely throughout the world. But two years of big world wheat crops, especially in new Black Sea exporters, have also hurt U.S. sales."The problem with U.S. wheat is that anything priced in dollars is more expensive," said Roy Huckabay, grain analyst with The Linn Group in Chicago. "The dollar has been really strong and I don't see it changing its stripes."For now, exporters say, the world's biggest importers Egypt, ...

Markets - Commodities - Americas

ICE cotton jumps to over 4-month high as buy-stops drive heavy trade NEW YORK: Benchmark cotton futures jumped on Tuesday to their highest since October 2014, as buy-stops exaggerated gains seen on a bullish technical outlook and low exchange inventories.The most-active May cotton contract on ICE Futures U.S. jumped to 64.74 cents a lb before closing up 1.21 cents, or 1.9 percent, at 64.53 cents a lb in heavy trade.More than 45,000 contracts changed hands across the forward-curve, according to preliminary exchange data compiled by Reuters. That ...

Markets - Commodities - Americas

Soy hits 1-month high on soymeal gains, NOPA data; wheat choppy  CHICAGO: US soybeans climbed to a one-month peak on Tuesday, lifted by a 3 percent spike in soymeal futures and data showing near-record domestic crushings of the beans in January, traders said.Wheat futures were mixed, with some contracts turning lower after earlier hitting three-week highs on a short-covering bounce. Corn was narrowly higher in thin volume on the first trading day of the week following the US Presidents Day holiday.Soymeal futures posted the largest gains ...

Markets - Commodities - Americas

Soy hits 1-month high on soymeal gains, NOPA; wheat choppy CHICAGO: US soybeans climbed to a one-month peak on Tuesday, lifted by a 2 percent spike in soymeal futures and data showing near-record domestic crushings of the beans in January, traders said.Wheat futures were mixed, with some contracts turning lower after earlier hitting three-week highs on a short-covering bounce. Corn was narrowly higher in thin volume on the first trading day of the week following Monday's US Presidents Day holiday.Soymeal futures posted the largest gains ...

Markets - Commodities - Americas

Arabica futures slide to one-year low; premium falls NEW YORK/LONDON: Arabica coffee futures on ICE slid as much as 5.3 percent in heavy volume on Tuesday on speculative long liquidation that triggered chart-based selling, slashing the bean's premium over robusta to a one-year low.Robusta coffee futures turned lower after rising to a 2-1/2-month high, while sugar and cocoa markets rose.Arabica saw its biggest drop in three months. Traders said one speculator may have reduced a large long position, triggering heavy chart-based selling as ...

Markets - Commodities - Americas

Gold, silver drop on bets euro zone will muddle through NEW YORK/LONDON: Gold and silver fell to six-week lows, while platinum fell to the lowest since 2009, on signs that Greek banks will continue to get emergency funding despite a breakdown in debt talks between their government and euro zone partners.A person familiar with the matter told Reuters the European Central Bank (ECB) was unlikely to pull the plug on funding for Greek banks this week, raising hopes that policymakers will eventually break the impasse ...

Markets - Commodities - Americas

US wheat export outlook bearish on dollar, world supply CHICAGO: US wheat exports are down about 30 percent from last year and prospects for business picking up look bleak given the strong dollar and ample supplies overseas, traders and analysts say.Exporters had hoped slow sales would improve in February and March when competitors like Russia, Ukraine and France usually start running out of wheat. But that hasn't happened this season.The biggest culprit is the strong dollar, which hurts wheat more than any other U.S. ...