08272016Sat
Last update: Sat, 27 Aug 2016 07am

Australia

Markets - Commodities - Australia

Wheat rebounds from near 4-month low; global supplies cap gains SYDNEY: US wheat edged higher on Thursday, rebounding from a near four-month low touched in the previous session, though ample global supplies provided a ceiling to gains.Corn rose nearly 1 percent, recouping about a third of the losses from the previous session, while soybeans rose more than 0.5 percent.The most active wheat futures on the Chicago Board of Trade rose 0.28 percent to $4.45-3/4 a bushel on Thursday, after closing down 2.8 percent on Wednesday when prices hit a near four-month low of $4.43-3/4 a bushel.Despite edging higher, analysts said wheat continues to come under pressure from ample global supplies as production prospects in the United States brighten."Russia's wheat harvest is now underway, so US wheat will soon be under more pressure to price itself to move against the Black Sea crops," said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia.The most active corn futures rose 0.85 percent ...

Markets - Commodities - Australia

London copper buoyed near 8-week high as dollar slips MELBOURNE: London copper hovered near its highest in eight weeks on Thursday as the dollar eased following recent gains in the wake of Britain's stunning vote to leave the European Union.A softer dollar gives buyers of commodities paying with other currencies stronger purchasing power.But metals markets were supported by Chinese stimulus measures, helping offset pressure from a wave of new supply.China's infrastructure investment in the first five months of 2016 grew 19.8 percent year-on-year, accelerating ...

Markets - Commodities - Australia

London copper climbs as dollar eases; Brexit ripples spur caution MELBOURNE: London copper advanced one percent on Monday as the dollar dropped on expectation that Britain's vote last week to leave the European Union would delay the first U.S. rate rise of the cycle.Britain plunged deeper into political crisis on Sunday in the wake of the referendum, leaving EU and world officials confused about what to do next.Finance minister George Osborne said on Monday Britain's vote to leave the European Union was likely to lead ...

Markets - Commodities - Australia

London copper treads water as Brexit ripples spur caution MELBOURNE: London copper's price was little changed on Monday as caution dominated the market in the aftermath of Britain's vote last week to leave the European Union.Britain plunged deeper into political crisis on Sunday in the wake of the referendum, leaving EU and world officials confused about what to do next.British Finance Minister George Osborne, who had warned during the campaign that a "Brexit" would cause financial market volatility, scheduled a statement for 7 a.m. ...

Markets - Commodities - Australia

London copper slides, metals sour as Britain faces EU exit MELBOURNE: London copper fell on Friday and selling spilled into other metals, after referendum results showed that British voters have embarked on a path to depart the European Union. The reaction of base metals was more subdued than in other commodities markets, where gold rallied the most since 2008 and oil plunged. Traders said this could be down to relatively lower investor capital in the downtrodden sector that is sitting around the cost of production ...

Markets - Commodities - Australia

Copper rises to two-week high on hopes Britain to stay in EU MELBOURNE: London copper rose to its highest in two weeks on Wednesday as safe-haven demand for the dollar fell on hopes that Britain will vote to remain in the European Union.A softer dollar, which makes commodities cheaper for buyers paying with other currencies, also triggered a volley of short-covering ahead of the vote, traders said."Investors remain cautious despite recent polls suggesting the chances of the UK leaving the EU had fallen," ANZ said in a ...

Markets - Commodities - Australia

Corn falls to near two-week low on positive US crop condition MELBOURNE: US corn fell to its lowest in more than a fortnight on Tuesday after the U.S. Department of Agriculture rated the Midwest corn crop in better condition than the market had anticipated after a spate of hot weather.The U.S. Department of Agriculture's weekly crop progress report rated 75 percent of the corn crop in good to excellent condition, unchanged from the previous week. Analysts surveyed by Reuters had expected a decline after a hot ...