08282016Sun
Last update: Sun, 28 Aug 2016 07am

Asia

Markets - Commodities - Asia

Palm in line for weekly decline tracking weaker rival oils KUALA LUMPUR: Malaysian palm oil futures were in line for their first session of declines in three on Thursday morning, weighed down by weaker related vegetable oils, despite strong cargo surveyor export data for August.Benchmark palm oil futures for November on the Bursa Malaysia Derivatives Exchange fell 1.5 percent to 2,560 ringgit ($635) per tonne at the midday break, its sharpest drop since August 18.Palm is in line for its first week of losses after seeing gains for three consecutive weeks on tight supplies and stronger demand. Currently, palm is down 0.7 percent for the week.Traded volumes stood at 24,587 lots of 25 tonnes each on Thursday noon."Bean oil, soybean, and Dalian are all lower," said a futures trader from Kuala Lumpur, referring to China's Dalian Commodity Exchange.Chicago soybean futures hit their lowest levels since mid-August on expectations of a bumper crop harvest.In competing vegetable oils, the Chicago Board of ...

Markets - Commodities - Asia

Bangladesh tea prices rise for fourth straight week  DHAKA: Tea prices in Bangladesh rose for a fourth straight week at the weekly auction on Tuesday, on strong demand for quality leaf amid lower supplies.Bangladesh tea fetched an average of 229.48 taka ($2.8) per kg at the auction, the 17th of the new marketing season, compared with 225.69 taka in the previous sale.There was robust demand for quality tea and buyers were ready to pay premiums which helped prices rise, while supplies were lower ...

Markets - Commodities - Asia

TOCOM hits near three-week low on softer oil prices TOKYO: Benchmark Tokyo rubber futures ended slightly lower on Wednesday, after hitting a near three-week low earlier in the session, pressured by softer oil prices, but trades were thin with many investors staying reluctant to take bets amid low volatility."Trade remained lacklustre even though Japan's traditional Obon holiday ended last week," said a Tokyo-based dealer."There were no major reasons to sell, but a rumour that shipment in Thailand is on the rise partly weighed on ...

Markets - Commodities - Asia

Palm oil rises for a second day on higher export outlook KUALA LUMPUR: Malaysian palm oil futures saw a second day of gains on Wednesday due to tight supplies and expectations of stronger export data.Benchmark palm oil futures for November on the Bursa Malaysia Derivatives Exchange rose 0.9 percent to 2,600 ringgit ($644) per tonne at the end of the trading day. It had climbed to 2,623 ringgit, its highest since August 19.Traded volumes stood at 38,035 lots of 25 tonnes each in the evening, below ...

Markets - Commodities - Asia

NY sugar may rise to 21.22 cents SINGAPORE: New York Oct. sugar may break a resistance at 20.75 cents per lb, and rise more to the June 30 high of 21.22 cents.The resistance is provided by the 7 percent Fibonacci retracement on the rise from the April 13 low of 14.55 cents to 21.22 cents, working as the barrier towards 21.22 cents.Wave pattern suggests sugar is riding on a powerful wave (5)-3, which could travel far above 21.22 cents, probably to 23.60 ...

Markets - Commodities - Asia

Indiana corn, soy crops on track for above-average yields STAR CITY: Corn and soybean fields in central and east-central Indiana are generally on track for bigger-than-average harvests, scouts on the second day of an annual crop tour said on Tuesday. Plant health was more consistent than the variable crops that the scouts on the four-day Pro Farmer Midwest Crop Tour viewed in western Ohio on Monday, they said, and fields have received recent rainfall. Some soybeans were moderately stressed by weeds, and some corn ...

Markets - Commodities - Asia

TOCOM falls to 2-week low as weaker oil erodes risk appetite TOKYO: Benchmark Tokyo rubber futures fell to a two-week low in lacklustre trade on Tuesday as weaker oil prices and sliding Shanghai futures eroded risk appetite.The Tokyo Commodity Exchange (TOCOM) rubber contract for January delivery finished 3.0 yen, or 1.9 percent, lower at 152.1 yen ($1.52) per kg, after touching its lowest since Aug. 10 at 151.8 yen.Oil prices fell with Goldman Sachs warning that August's price rally had been overdone and that a proposed ...