05262016Thu
Last update: Thu, 26 May 2016 11pm

Asia

Markets - Commodities - Asia

Wheat rises for second day as US rains may damage winter crop SINGAPORE: US wheat futures rose for a second session on Wednesday with prices underpinned by forecasts of rains in the US Plains which could potentially damage the maturing winter crop.Soybeans rose half a percent, rebounding from the previous session's decline on concerns over lower supplies from Argentina.Showers in the US Plains winter wheat belt will diminish in the southwest the rest of this week allowing some improvement in harvest conditions, but southeastern areas remain unfavourably wet, Commodity Weather Group said."The wheat market is recovering as investors are covering short positions and we have forecasts of rains for the US crop which could be harmful for quality and yields," said Kaname Gokon at brokerage Okato Shoji in Tokyo.Chicago Board of Trade most-active wheat contract advanced 0.3 percent to $4.65-1/4 a bushel. It touched its lowest since May 12 at $4.57-3/4 a bushel on Tuesday.Soybeans climbed 0.5 percent to $10.60 a bushel, ...

Markets - Commodities - Asia

Palm falls on stronger ringgit, weaker than forecast export data KUALA LUMPUR: Malaysian palm oil futures are on track to reverse the previous session's gains, as a stronger ringgit and weaker than expected export data weighed on prices in early trade on Wednesday.The ringgit, in which palm oil is traded, strengthened 0.4 percent to reach 4.1040 against the dollar around noon, making palm more expensive for foreign currency holders.The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange fell 0.5 percent to ...

Markets - Commodities - Asia

Vietnam says Jan-May rice exports edge down to 2.35mn T HANOI: Vietnam, the world's third-largest rice exporter after India and Thailand, will ship an estimated 2.35 million tonnes of the grain between January and May, down 2.1 percent from a year ago, the Agriculture Ministry said on Wednesday.Revenue from the five months of rice exports, mostly destined for China, Indonesia and the Philippines, will reach an estimated $1.06 billion, up 1.2 percent from a year ago, the ministry said in a monthly report.Copyright Reuters, 2016 ...

Markets - Commodities - Asia

Gold drops to seven-week low on Fed rate hike prospects BENGALURU: Gold dropped to a seven-week low on Wednesday, driven by expectations of an early interest rate hike by the US Federal Reserve.Bullion has taken a beating from the prospect of an imminent rate increase, as indicated by Fed meeting minutes released last week. Gold is sensitive to interest rates, gains in which raise the opportunity cost of holding the non-interest-yielding asset.Spot gold was down 0.2 percent at $1,223.96 per ounce by 0611 GMT. The ...

Markets - Commodities - Asia

TOCOM rebounds from three-month low on short-covering TOKYO: Benchmark Tokyo rubber futures closed slightly higher in thin trade on Tuesday, bouncing back from a three-month low touched earlier in the session, as investors covered short positions after prices fell sharply in the past month, dealers said.Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, have lost more than 20 percent since an April high of 205.1 yen, weighed down by fears over weak demand in ...

Markets - Commodities - Asia

Vietnam Coffee-Premiums rise, rain returns to key growing area HANOI: Vietnamese coffee premiums rose slightly this week following a drop in robusta futures, while the country's exports of the commodity have jumped by around a third, according to traders and government data.The rainy season has returned to most of the Central Highlands coffee belt, responsible for at least 80 percent of Vietnam's coffee output, state forecasters said.The rain has contributed to easing global coffee prices. ICE July robusta settled down 1 percent at $1,643 ...

Markets - Commodities - Asia

Palm recovers from 3-month low on ringgit, other oils KUALA LUMPUR: Malaysian palm oil futures recovered from the previous session's near three-month low on Tuesday, supported by a weaker ringgit while gains in rival oils also boosted sentiment.The contract for August delivery on the Bursa Malaysia Derivatives Exchange had risen 0.4 percent to 2,503 ringgit ($608) per tonne at the end of the trading day. It hit its lowest level since March 3 on Monday, dragged down by losses in Chinese vegetable oils.Traded volume ...