09252016Sun
Last update: Sun, 25 Sep 2016 01pm

Asia

Markets - Commodities - Asia

Soybeans hit 1-week top, corn up 2nd day on US rains SINGAPORE: Chicago soybeans climbed more than one percent on Monday to a one-week high and corn gained more ground, with prices underpinned by rains in parts of the US Midwest that delayed the harvest.Wheat rose on spillover strength from corn, although the market's focus is on top buyer Egypt banning foreign shipments with any traces of ergot fungus.Chicago Board of Trade most-active soybean contract rose as much as 1.2 percent to $9.78 a bushel by 0319 GMT, strongest since Sept. 12. That follows soybean prices gaining 1.6 percent on Friday and 0.8 percent on Thursday.Corn climbed 0.6 percent to $3.39 a bushel, highest since Sept. 13, and wheat advanced 0.7 percent to $4.06-1/4 a bushel. Corn and wheat were both up for a second straight day."A wet US crop outlook has the market on edge and so investors were keen to buy back some short positions," said Tobin Gorey, director ...

Markets - Commodities - Asia

China steel falls to lowest since June amid property curbs MANILA: Chinese steel prices dropped to their lowest in nearly three months on Monday on worries that fresh efforts to curb home purchases could slow demand in the top global steel consumer.Financial markets reopened in the country on Monday after closing on Thursday and Friday for China's Mid-Autumn Festival.Home prices there rose at a faster pace in August, data showed, with the buying frenzy spilling over from first-tier cities to other parts of the country. ...

Markets - Commodities - Asia

Palm oil rises for second day on stockpile tightness, rival oil gains KUALA LUMPUR: Malaysian palm oil futures opened lower on Monday but rose slightly by the midday break and are on track to rise for a second consecutive session, supported by expectations that stockpiles will remain tight and stronger performing rival oils.Market gains, however, may be capped by a slower export outlook, according to traders.Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange saw a slight rise of 0.2 percent to 2,598 ringgit ...

Markets - Commodities - Asia

NY sugar may correct to 21.44 cents before rising SINGAPORE: New York Oct. sugar may correct to a support at 21.44 cents per lb before rising again, as it has slid below a higher support at 21.74 cents.These supports are identified respectively as the 86.4 percent and the 100 percent Fibonacci projection levels of an upward wave c, the third wave of a three-wave cycle from the July 29 low of 18.71 cents.This wave could have unfolded too fast and temporarily lost its momentum. ...

Markets - Commodities - Asia

TOCOM hits 1-1/2 week low as risk appetite wanes TOKYO: Benchmark Tokyo rubber futures tumbled nearly 4 percent on Monday, giving up gains from earlier this month and hitting a 1-1/2 week low, as a slump in global shares and weaker oil prices dampened investors' risk appetite."A flurry of selling kicked in amid risk aversion in the light of slumping Wall Street and oil markets," said Jiong Gu, an analyst with Yutaka Shoji Co.The Tokyo Commodity Exchange (TOCOM) rubber contract for February delivery finished ...

Markets - Commodities - Asia

Copper hits lowest in more than two months on risk aversion MELBOURNE: London copper slipped to its weakest level since late June on Monday after risk aversion roiled wider markets, and investors turn increasingly bearish on the metal given prospects for rising supply.Jitters on Wall Street spilled across markets on Monday after investors were rattled by rising bond yields and talk the Federal Reserve might be serious about lifting U.S. interest rates as early as next week."It started in the States on Friday with weak closes ...

Markets - Commodities - Asia

China copper demand picks up after summer lull MELBOURNE: Emerging Chinese copper demand after a summer factory lull and buying by traders buoyed by cheap premiums and weak global prices looks set to fuel a recovery in China's copper imports this month after a plunge to 12-month lows in August.The buying interest could help stem a surge in Chinese copper exports, but may not be enough to offset the impact of an expected flood of new supply this year, traders and analysts said, ...