01182017Wed
Last update: Wed, 18 Jan 2017 11pm

Asia

Markets - Commodities - Asia

Soybeans drop to 3-week low on Argentina rain forecast, corn falls SINGAPORE: Chicago soybeans slid for a fourth straight session on Thursday, hitting a three-week low, as forecasts of rains in Argentina's crop-belt eased the prospects of production losses.Corn slid, snapping four sessions of gains, while wheat lost ground as a stronger US dollar weighed on agricultural markets.The Chicago Board Of Trade most-active soybean contract was down 0.1 percent to $10.23 a bushel by 0341 GMT, after falling to a low of $10.18-1/2 a bushel, the weakest since Nov. 23.Corn fell 0.2 percent to $3.61-1/4 a bushel and wheat slipped 0.1 percent to $4.17-1/2 a bushel."There is outlook for rains in Argentina in the near term which is driving the soybean market," said Rajesh Singla, head of agriculture research at Societe Generale."Brazil is expected to produce a record crop and we might even increase our estimates for Brazil's soybean production as the weather has been really beneficial for the crop."Soybean prices ...

Markets - Commodities - Asia

Bangladesh tea prices down amid supply glut DHAKA: Tea prices in Bangladesh fell about 4.6 percent at the weekly auction on Wednesday as the volumes on offer rose to its highest so far this season, but strong demand for quality leaf capped a steeper decline.Bangladesh tea fetched an average of 178.56 taka ($2.50) per kg at the auction, compared with 186.78 taka in the previous sale.The offerings in this sale were the largest so far this season, which met with much less ...

Markets - Commodities - Asia

Palm up for third session on weaker ringgit, gains in rival oils KUALA LUMPUR: Malaysian palm oil futures were set for a third straight session of gains on Thursday, supported by a weaker ringgit and stronger performing rival oils in early trade. Palm saw three straight sessions of declines last week as it pulled back from a 4-1/2-year high hit on Dec. 7 at 3,188 ringgit ($714.50) a tonne, but the gains this week have recouped nearly all those losses.Benchmark palm oil futures for February delivery on ...

Markets - Commodities - Asia

Gold falls to over 10-month low as Fed signals more rate hikes BENGALURU: Gold dropped to its lowest in over 10 months on Thursday as the dollar surged to its highest in 14 years after the US Federal Reserve raised interest rates for the first time in a year and signalled more rate hikes in 2017.Spot gold had edged down 0.2 percent to $1,142.06 an ounce by 0633 GMT after earlier touching its weakest level since Feb. 3 at 1,134.71. It fell over 1 percent the session ...

Markets - Commodities - Asia

Copper shakes off stronger dollar to rise SYDNEY: London copper climbed on Thursday on a brightening outlook for demand, shaking off an earlier dip that was driven by a stronger dollar after the U.S. raised interest rates for the first time this year.The U.S. Federal Reserve on Wednesday hiked rates by a quarter point and signalled a faster pace of increases in 2017."The signs of a stronger copper market heading into 2017 are there," said Gavin Wendt at commodity advisory firm MineLife ...

Markets - Commodities - Asia

Indian buyers purchased around 200,000 T Black Sea wheat HAMBURG: Indian importers in the last week purchased around 200,000 tonnes of wheat from the Black Sea region after India ended wheat import duties, European traders said on Wednesday. The purchases involved about 150,000 tonnes from Ukraine and 50,000 tonnes from Russia, they said. India last Thursday suspended its 10 percent import duty on wheat after droughts in the past two years depleted stocks and raised domestic prices, a move that traders said could raise ...

Markets - Commodities - Asia

Wheat prices ease, corn down from five-month high SINGAPORE/PARIS: Chicago wheat and corn futures lost ground on Wednesday as the market took a breather after seeing strong gains driven by short-covering and improved demand for US cargoes.Soybeans slid for a third consecutive session as forecasts of rain in Argentina's key growing regions weighed on prices.The most-active wheat contract on the Chicago Board of Trade had fallen 0.9 percent to $4.13-3/4 a bushel by 1150 GMT, having closed marginally higher on Tuesday, while corn ...