07292016Fri
Last update: Fri, 29 Jul 2016 10pm

Asia

Markets - Commodities - Asia

Palm makes late gains on US soy, Malaysia's biodiesel plan KUALA LUMPUR: Malaysian palm oil futures reversed losses in late trade on Tuesday, in response to a stronger performance by US soybean oil, plus Malaysia's commitment to raise the minimum bio content in biodiesel, which will boost palm oil consumption.Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange rose 1.7 percent to 2,309 ringgit ($569) per tonne at the close of trade, its strongest daily gain since July 20.Traded volumes stood at 48,297 lots of 25 tonnes each, above the 2015 average of 44,600.Improvement in US soy was a likely reason, one futures trader from Kuala Lumpur said, while another trader said Malaysia's biodiesel plans could be another supportive factor.Malaysia, the world's second largest palm producer after Indonesia, said on Tuesday it would still raise the minimum bio-content to 10 percent for the transport sector this year, but not in July as initially expected."B10 will still ...

Markets - Commodities - Asia

Wheat up more than 1.5pc on concern over European crop SINGAPORE/PARIS: Chicago wheat prices rose on Monday on growing concern that the size of the crop in the European Union, the world's largest exporter of the cereal, could be lower than expected, pulling up corn in their wake.Soybeans rebounded slightly from a three-month low hit in the previous session when forecasts of near-perfect weather during next month's yield-determining phase for the US crop dragged on prices.The Chicago Board of Trade (CBOT) most-active wheat contract was ...

Markets - Commodities - Asia

South Korea groups bought 170,000 tonnes South American soymeal HAMBURG: Three South Korean buyers purchased a total of about 170,000 tonnes of soymeal in separate deals late last week as global soymeal prices dropped sharply, European traders said on Monday. The purchases were made by South Korea's largest feedmaker Nonghyup Feed Inc. (NOFI), by the Major Feedmill Group (MFG) and by the Korea Feed Association (KFA), they said.All the soymeal was likely to be sourced from South America, they said.NOFI bought 60,000 tonnes at ...

Markets - Commodities - Asia

Palm extends losses, tracking weak overseas soy markets KUALA LUMPUR: Malaysian palm oil futures extended losses on Monday, coming off a two-week high reached last week, as weakness in overseas soybean oil prices lured buyers away from the tropical oil.Palm's rival vegetable oil soy fell sharply on Friday on the Chicago Board of Trade amid expectations for a bumper US crop this fall. Dalian prices of the commodity slipped a percent on the day and looked set to extend their losses this week.Benchmark ...

Markets - Commodities - Asia

Chinese iron ore futures fall, posting weekly loss SHANGHAI: Chinese iron ore futures fell on Friday and posted a weekly loss of 4.5 percent, pressured by rising port inventories and falling steel prices in the world's top producer of the metal. Dalian Commodity Exchange iron ore for Septemberlost 1 percent to 428.5 yuan ($64.24) a tonne by close, after earlier rising more than 3 percent on a bump in spot prices on Thursday. The contract declined for the first week after four straight ...

Markets - Commodities - Asia

TOCOM ends down on low oil prices, strong yen TOKYO: Benchmark Tokyo rubber futures ended down 0.9 percent on Friday, coming under pressure from low oil prices and a stronger yen against the dollar. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, slipped from a 1-1/2-month high hit in the previous session."Weak oil and a stronger yen hurt market sentiment," said a Japan-based dealer.The Tokyo Commodity Exchange rubber contract for December delivery <0#2JRU:> finished 1.5 yen ...

Markets - Commodities - Asia

Indian trader PEC gets lone bid for 120,000 tonnes corn import tender NEW DELHI: India's state-run trader PEC has received only one bid for a tender floated to import 120,000 tonnes of non-genetically modified organisms (GMO) corn, a government source said on Friday. The sole bidder offered only 25,000 tonnes of corn at $252.3 per tonne, the source said, highlighting difficulties in sourcing non-GMO corn, which is grown by only a few countries in the world.India has asked a government-backed trader to import an extra half a ...