12032016Sat
Last update: Sat, 03 Dec 2016 05am

Asia

Markets - Commodities - Asia

Indonesia 2017 wheat imports set to rise on corn restrictions JAKARTA: Indonesia's imports of wheat for animal feed could jump by about 36 percent to 3 million tonnes in 2017, an industry association said, if the government pushes forward with efforts to restrict corn imports.Indonesia has emerged as the world's second-largest wheat importer and its imports of the grain spiked this year after the country imposed tighter rules on corn imports.Under rules introduced in April, feedmills must import corn via the state procurement agency, Bulog, and imports were capped at 1 million tonnes. This is about a third of the amount the industry had planned to import in 2016, according to the Indonesian Feedmill Association."If there's a lack of corn, we have to import wheat," association chairman Desianto Budi Utomo told Reuters by telephone on Wednesday.Earlier an official at the agriculture ministry said Indonesia hopes to end imports of corn in 2017 as part of a government push for self-sufficiency ...

Markets - Commodities - Asia

London copper holds gains on inflation signs SYDNEY: London copper was little changed in Asian trade on Wednesday after overnight gains on signs of rising U.S. inflation and further depreciation in the yuan.Three-month copper on the London Metal Exchange rose 0.1 percent from the late London session to $5,624 a tonne by 0700 GMT.The most-traded copper contract on the Shanghai Futures Exchange slipped 0.3 percent to 45,760 yuan ($6,641)a tonne.The dollar hovered near a recent 13 1/2-year peak on Wednesday, taking a ...

Markets - Commodities - Asia

Soybeans hit near one-month high on strong export data SYDNEY: US soybeans rose for a fourth straight session on Tuesday to hit a near one-month high as strong export demand and fund buying underpinned gains.Corn edged down, falling from a near three-week high touched in the previous session, while wheat fell despite the US Department of Agriculture reporting the condition of the winter crop fell last week.The most active soybean futures on the Chicago Board Of Trade rose 0.27 percent to $10.24 a bushel ...

Markets - Commodities - Asia

London copper hits one-week high on inflation expectations SHANGHAI: London copper jumped to its highest in a week on Tuesday as investors bet that rising oil prices would stoke inflation, increasing the allure of commodities as a hedge, while falling inventories also supported prices."Optimism returned to the industrial metals complex despite a stronger USD," ANZ said in a report."This saw a broad-based rally across base metals. Copper was boosted by another fall in inventories on the LME. Stocks are now down nearly 30 ...

Markets - Commodities - Asia

Palm heads for 2nd session of gains, tracking stronger soyoil KUALA LUMPUR: Malaysian palm oil futures extended gains into a second session on Tuesday, reaching a more than one-week high, supported by gains in rival soyoil on the Chicago Board of Trade (CBOT) and China's Dalian Commodity Exchange.Benchmark palm oil futures for February delivery on the Bursa Malaysia Derivatives Exchange were up 0.7 percent at 2,940 ringgit ($664) a tonne at the midday break. They earlier climbed to an intraday high of 2,944 ringgit, their ...

Markets - Commodities - Asia

Copper leads broad rally in metals, further gains seen MELBOURNE: London copper jumped more than 2 percent on Monday, leading a broad rally in industrial metals, amid prospects for better demand in top consumer China and smaller growth in supply.Chinese investors whose rush into copper hauled it to 17-month highs this month say infrastructure spending and government reforms will keep the metal well supported for the rest of this year and into 2017.The likelihood of rising U.S. interest rates, better-than-expected Chinese consumption this year ...

Markets - Commodities - Asia

Wheat rallies to 11-day high on planting expectations, dry weather SYDNEY: US wheat rose on Monday to hit a 11-day high as expectations for reduced plantings and fears of continued dry weather pushed the grain to its longest unbroken rally in three weeks.Corn rose, drawing support from stronger oil prices to hit a 12-day high, while soybeans gained more than 0.5 percent.The most active wheat futures on the Chicago Board Of Trade rose 0.55 percent to $4.10-1/4 a bushel by 0253 GMT, near the session ...