01172017Tue
Last update: Tue, 17 Jan 2017 10pm

Asia

Markets - Commodities - Asia

Wheat prices firm as cold weather threatens US crops SYDNEY: US wheat rose nearly 1 percent as cold weather struck key US producing regions, raising fears of potential crop losses.Soybean prices held steady after posting gains of nearly 1 percent in the previous session, while corn was little changed.The most active wheat futures on the Chicago Board of Trade had risen 0.7 percent to $4.12-1/4 a bushel by 0358 GMT, having closed little changed on Friday."It is very cold in the US and that has some concerned about crop losses," said Phin Ziebell, agribusiness economist, National Australia Bank.Frigid temperatures across the US Plains and Midwest potentially expose the country's hard red and soft red crops to damage.Both are planted in autumn and go dormant during the winter, before resuming growth in the spring. Wheat is typically at its hardiest during the winter months, but plants can be damaged if temperatures dip enough for extended periods.The most active soybean futures ...

Markets - Commodities - Asia

Palm rises over 1pc on rival soyoil gains KUALA LUMPUR: Malaysian palm oil futures rose over 1 percent in first-half trade on Monday and touched a four-and-a-half-year high hit in the previous session, tracking gains in rival soyoil and on tight supplies in the market.Benchmark palm oil futures for March delivery on the Bursa Malaysia Derivatives Exchange were up 1.3 percent at 3,201 ringgit ($715) a tonne at the midday break after rising to a high of 3,202 ringgit earlier in the session.Traded ...

Markets - Commodities - Asia

Bangladesh expects record tea output in 2016 DHAKA: Bangladesh's tea output in 2016 is expected to hit a record 80 million kg from 66 million a year earlier, the commerce minister said on Sunday, a volume that may be big enough to make imports unnecessary.The country became a net importer of tea after ranking as the world's fifth-largest exporter in 1990s, due to a big increase in domestic consumption."Tea production this year is likely to hit all-time high of 80 million kg," ...

Markets - Commodities - Asia

China's major coal producing region aims to halve coal output by 2030 BEIJING: China's major coal producing region expects to cut output by more than half to 60 million tonnes by 2030, down from 144 million tonnes in 2015, the official Xinhua news agency reported on Saturday Coastal Shandong province is also China's largest coal consumer among all regions, with the dirty fuel accounting for 80 percent of overall energy consumption, Xinhua said. Shandong aims to reduce coal consumption by 50 million tonnes by 2030, Xinhua said. ...

Markets - Commodities - Asia

Palm falls from 4-1/2-year high, corrects on softer Dalian KUALA LUMPUR: Malaysian palm oil futures fell from a four and a half year high in late trade on Friday, as it came under profit-taking pressure and corrected on softer rival oils on China's Dalian Commodity Exchange.Benchmark palm oil futures for March delivery on the Bursa Malaysia Derivatives Exchange was down 0.8 percent at 3,161 ringgit ($706) a tonne at the end of the trading day. Earlier in the session, the contract hit 3,202 ringgit, ...

Markets - Commodities - Asia

South Korea's KOCOPIA buys about 60,000 tonne corn from US HAMBURG: South Korea's Korea Corn Processing Industry Association (KOCOPIA) purchased about 60,000 tonnes of yellow corn which is likely to be sourced from the United States in a tender which closed on Friday, European traders said. The corn was purchased at $191.77 a tonne c&f including surcharge for additional port unloading, they said.The grain can genetically-modified organisms (GMOS), they said.It is for shipment in 2017 between March 5-25 from the US Pacific North West coast ...

Markets - Commodities - Asia

TOCOM soars to 3-year high as speculators keep buying TOKYO: Benchmark Tokyo rubber futures surged to three-year highs on Thursday, extending gains into a fifth session, as speculators stayed on buying spree, but the market cut some of earlier gains as Shanghai came under pressure in late trade due to profit-taking."There have been no fresh fundamental news lately, but both Tokyo and Shanghai rubber markets have been driven by speculative buying," a Tokyo-based dealer who declined to be named.The Tokyo Commodity Exchange (TOCOM) rubber ...