Australia
Thursday, 20 June 2013 10:09
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SYDNEY: US wheat fell 1 percent on Thursday after hitting a two-week high in the previous session, amid a broad-based commodity sell-off and a firming dollar as the US Federal Reserve signalled a slowdown in the pace of bond purchases.Market sentiment was dampened further after economic data from China hinted at weakening of the world's second largest economy.Corn fell, having touched a two-week high on Wednesday, while soybeans also slid.Chicago Board Of Trade July wheat slipped to $7.00-1/4 a bushel. It jumped 2.8 percent in the previous session, and hit an intra-day peak of $7.10-3/4, on expectations for increased domestic demand."Wheat has fallen back today partly on a more benign weather outlook and some correction from the solid overnight rally. But the main impact today is from broader movements in the currency, making life for U.S exporters even more uncompetitive," said Garry Booth, manager of agricultural and commodity markets, ICAP.The ...
SYDNEY: US corn dropped on Wednesday as traders booked profits after a sharp two-day rally, while worries about the Federal Reserve's next policy step also dragged on prices.Wheat fell in line with corn, while soybeans were little changed, drawing support from delays to new-crop plantings."The US dollar is higher, that is weighing on the broader complex ahead of the Fed announcement," said Luke Mathews, commodities strategist at the Commonwealth Bank of Australia.The dollar was a ...
TORONTO: Canada's main stock index retreated on Friday, ending its third-straight losing week as financials and materials stocks led a broad selloff.Bank shares were the biggest drag on the index as investors digested US economic data and fretted about a possible rollback in central bank stimulus programs.The index fell following a sharp jump in the previous session and remained firmly in the red for the year.The Toronto Stock Exchange's S&P/TSX composite index ended down 89.77 ...
TOKYO: Tokyo stocks jumped 2.05 percent on Tuesday as the dollar gained on the yen in afternoon trading with the market also lifted by expectations of more policy easing by the Bank of Japan.The benchmark Nikkei 225 index, which has lost 15 percent in the past 10 days, closed 271.94 points higher on 13,533.76, while the Topix index of all first-section shares was up 2.60 percent, or 28.52 points, at 1,125.47.Copyright AFP (Agence France-Presse), 2013 ...
HONG KONG: China's Shuanghui Group has agreed to buy Smithfield Foods for around $5 billion in cash, a person with knowledge of the matter told Reuters on Wednesday.Privately owned Shuanghui plans to fund the acquisition using debt, the person added, using both Chinese and foreign bank funding.China is the world's biggest producer and consumer of pork and the third-largest market for US pork. In recent months, a series of food safety scandals have dented consumer ...
SYDNEY: US soybeans rose for a seventh straight session on Friday as the oilseed closed in on its biggest two-week gain in nearly nine months as tight old-crop stocks and continued strong demand underpinned gains.Corn edged lower for the first time in three sessions, while wheat held steady after surging more than 2 percent in the previous session.Chicago Board of Trade July soybeans rose 0.33 percent to $15.04-1/2 a bushel, having closed up 0.35 percent ...
CHICAGO: Chicago Board of Trade corn and soybean price spreads reached multi-month highs on Monday as razor thin supplies at country elevators and processors forced traders to cover short positions before May contracts expire.The front-month Chicago Board of Trade May corn contract rallied to a premium of 57-1/2 cents compared with the July contract, the biggest inverse in the market since Jan. 8. The premium for CBOT May soybeans peaked at $1.44 higher than CBOT ...
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