02132016Sat
Last update: Sat, 13 Feb 2016 08pm

Asia

Markets - Commodities - Asia

Wheat falls for second day, market eyes Russia's export tax cuts SINGAPORE/PARIS: US wheat extended its losses on Thursday, after suffering its biggest drop in two weeks in the previous session, as Russia's plans to remove or cut export taxes hurt the market.This week, wheat hit a one-month high on talk of tighter export curbs by Russia, but Moscow later tempered the speculation saying it would discuss removing or cutting the tariff at a meeting on Jan. 29 with Deputy Prime Minister Arkady Dvorkovich, who is in charge of agriculture."Russia appears to have made a spectacular U-turn in its wheat export policy," Commerzbank said in a note. "In response to the prospect of additional supply from Russia, wheat prices have shed the gains they made at the beginning of the week."The Chicago Board of Trade's most active wheat contract fell 0.2 percent to $4.75-1/2 a bushel by 1129 GMT, following a 1.7-percent drop a day before.Soybeans fell 0.1 percent to $8.81-3/4 ...

Markets - Commodities - Asia

TOCOM slides as selloff in China equity drags TOKYO: Benchmark Tokyo rubber futures slid in thin trade on Thursday as investors sold back long positions as a sharp selloff in Chinese stock market renewed concerns about slowing demand in top buyer China.The Tokyo Commodity Exchange rubber contract for July delivery finished 1.1 yen, or 0.7 percent, lower at 157.8 yen ($1.33) per kg.China stocks slumped again on Thursday to a fresh one-year low as panic selling resumed, with Shanghai's Composite Index ending down ...

Markets - Commodities - Asia

Asia Coffee-Vietnam's sales, premiums steady HANOI: Vietnam's coffee sales were steady on ample domestic supply and demand by foreign buyers for nearby shipments, keeping premiums stable, while trading in Indonesia was curbed by limited supply, traders said on Thursday.Vietnamese farmers finished the harvest early this month and many have been selling stocks for cash ahead of Tet, the country's biggest festival to mark the Lunar New Year, this year on Feb. 8.All markets will be closed on Feb. 6-14 for ...

Markets - Commodities - Asia

Palm oil slips on stronger ringgit after reaching 20-month high KUALA LUMPUR: Malaysian palm oil futures fell on Thursday after rising to a 20-month high earlier in the day, giving up gains on the back of a stronger ringgit.Palm hit a two-week low of 2,408 ringgit last week before rising for three sessions to a 20-month top of 2,512 ringgit.The palm oil contract for April on the Bursa Malaysia Derivatives Exchange closed 0.9 percent lower at 2,480 ringgit ($589.07) per tonne after hitting an intraday ...

Markets - Commodities - Asia

CBOT corn biased to fall towards $3.64 SINGAPORE: CBOT March corn is biased to break a support at $3.67-1/2 per bushel and fall towards the next support at $3.64, as indicated by a Fibonacci retracement analysis and falling channel.The retracement analysis is on the downtrend from the Dec. 18, 2015 high of $3.79-1/2 to the Jan. 7 low of $3.48-1/2. It reveals the contract has been hovering below a resistance at $3.72, the 76.4 percent level, for several days. The chance of ...

Markets - Commodities - Asia

Gold slips from 12-wk high on less dovish Fed, firm dollar MANILA: Gold edged down from 12-week highs on Thursday after the U.S. Federal Reserve acknowledged a challenging global economy but signalled it was unlikely to be deterred from raising interest rates this year.The less dovish tone of the Fed's statement helped boost the dollar against a basket of currencies and weighed on gold, which had gained on global uncertainties from China to Europe.Spot gold was down 0.7 percent at $1,117.64 an ounce by 0635 GMT. ...

Markets - Commodities - Asia

China vows tougher regulation of genetically modified crops BEIJING: China aims to crack down further on the cultivation of illegal genetically modified crops, a senior agricultural official said on Thursday, following instances of the planting of unapproved strains of corn and soybeans.The agriculture ministry began a nationwide investigation last year amid media reports that farmers in the northeastern province of Heilongjiang were planting unapproved GMO varieties of soybeans.As much as 93 percent of samples from cornfields in Liaoning, another northeastern province, tested positive ...