06302016Thu
Last update: Thu, 30 Jun 2016 10pm

Asia

Markets - Commodities - Asia

Corn, wheat, soybeans slide as Britain votes to exit EU SINGAPORE: Chicago corn lost around 2 percent on Friday while soybeans and wheat gave up more than 1 percent as Britain's vote to leave the European Union rattled global financial and commodity markets.Carnage came to world markets after results showed a near 52 percent voted for Britain's exit from the European Union, sending sterling on a record plunge and pummelling share markets around the globe."The agricultural markets have been caught in the storm on Brexit," said Luke Mathews, senior risk management consultant at FCStone Australia."The macro-economic environment is going to be the key driver for all markets including agriculture for a while. Obviously, agricultural markets won't lose site of their own fundamentals."The Chicago Board of Trade most-active corn contract fell 2.3 percent to $3.78-1/4 a bushel by 0717 GMT, after hitting its lowest since May 11 at $3.76-3/4 a bushel earlier in the session.Soybeans gave up 1.4 percent to $10.86-1/2 ...

Markets - Commodities - Asia

NY coffee may fall to $1.4070 SINGAPORE: New York September coffee , may fall below a support at $1.4220, towards the next support at $1.4070, affected by today's market turbulence.The contract faces a resistance at $1.4345, the 50 percent Fibonacci projection level of an upward wave c, which is the third wave of a presumed three-wave cycle from the June 13 low of $1.34.The 38.2 percent level at $1.4220 works as a support, a break below which could cause a loss ...

Markets - Commodities - Asia

South Korea's KOSPO buys 276,000 T coal for Sept-Oct SEOUL: South Korea's Korea Southern Power Co Ltd (KOSPO) bought a total of 276,000 tonnes of Russian steaming coal for arrival between September and October via spot tenders that closed on Thursday, a source from the utility said on Friday. The utility had originally sought to purchase three 138,000-tonnne lots of coal, but the source said it passed to buy 138,000 tonnes of Colombian origin coal due to high prices. The utility would reissue a ...

Markets - Commodities - Asia

NY cocoa may retrace into $3,080-$3,136 range SINGAPORE: New York September cocoa faces a trendline resistance at $3,190 per tonne and may retrace into $3,080-$3,136 range. The trendline descends from the Dec. 7, 2015 high of $3,392. A break above this line could lead to a gain to $3,226. However, Friday's market turbulence could have some impact on cocoa, forcing it to drop into the range formed by the 61.8 percent and the 76.4 percent Fibonacci projection levels of an upward wave ...

Markets - Commodities - Asia

China iron ore, steel slip in calm response to Brexit MANILA: Chinese steel and iron ore futures slipped on Friday, but losses were limited compared to global industrial commodities that were sold off along with other risky assets after Britain voted to leave the European Union. Gold rallied the most since the 2008 global financial crisis and oil and copper tumbled as Britain's decision fueled a rush to safe havens.Britain's decision to divorce from the EU forced the resignation of Prime Minister David Cameron and ...

Markets - Commodities - Asia

Vietnam's 2016 rice exports seen down 13 pct y/y HANOI: Vietnam's rice exports in 2016 could fall 13.2 percent from a year earlier to 5.7 million tonnes as supply was dampened by drought and salination, a government news website reported on Friday. Rice exports in January-June by Vietnam, the world's third-biggest exporter of the grain after India and Thailand, is seen down 8.4 percent annually at 2.73 million tonnes, the website quoted the Vietnam Food Association (VFA) as saying. The annual estimate is lower ...

Markets - Commodities - Asia

Palm sees third week of declines on Brexit concerns KUALA LUMPUR: Malaysian palm oil futures fell on Friday evening for a third consecutive week of losses, tracking declining rival vegetable oils and amid investor concerns over Britain's vote to leave the European Union.The market fell for two sessions this week before paring losses in late trade on Thursday, but declined on Friday to fall 2.9 percent this week.Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange fell 0.2 percent to ...