07282016Thu
Last update: Thu, 28 Jul 2016 03pm

Australia

Markets - Commodities - Australia

Grain prices drop on profit-taking ahead of USDA report MELBOURNE: Soybean prices fell on Monday as worries about weather eased and traders booked profits ahead of a US government report that is expected to shed fresh light on crop conditions in the US Midwest producing region."You've seen grain prices very low, broadly speaking, because the supply outlook has been really good for a long time. You've seen some concerns recently in soy, which has spilled over into corn as well," said Phin Ziebel, agribusiness economist at National Australia Bank in Melbourne."Soy supply concerns have been about South America, where conditions have been unfavourable, and also some question markets on what's going to happen in the US"Chicago Board of Trade soybeans had dropped 1.5 percent to $11.31 a bushel, eroding gains of 1.2 percent from the previous session. Prices logged their first weekly loss in 10 weeks last week as worries about weather conditions eased.Although corn last week logged a ...

Markets - Commodities - Australia

London copper holds above 4-month low on softer dollar MELBOURNE: London copper held above four-month lows on Monday as the dollar weakened following comments by a Federal Reserve official suggesting fewer U.S. interest rate hikes were on the cards.St. Louis Fed President James Bullard has said the U.S. economy may only need one rate hike for as long as 2-1/2 years. A weaker greenback boosts demand for commodities priced in the dollar by making it cheaper for holders of other currencies.Three-month copper on the ...

Markets - Commodities - Australia

London copper up as dollar stays weak, China holiday thins trade MELBOURNE: London copper rose on Thursday as the dollar stayed weak on expectations of a delayed rate hike by the Federal Reserve with a two-day holiday in China draining volumes and direction from metals.Rising production costs for copper on the back of higher energy prices are set to offer price support, while a strong pick up in China's housing starts and power sectors will most likely drive a pick up in demand in three to ...

Markets - Commodities - Australia

London copper revives from 2-week lows on solid China imports MELBOURNE: London copper climbed away from near its lowest level in a fortnight on Wednesday, as the dollar stayed weak and after China reported strong copper imports in May.China's copper imports jumped 19.4 percent from the same month a year ago to 430,000 tonnes last month, customs data showed on Wednesday."The normal seasonal slowdown in Chinese commodity imports didn't materialise in May, with most commodities recording strong growth," said analyst Daniel Hynes of ANZ in ...

Markets - Commodities - Australia

London copper revives from two-week lows as dollar softens MELBOURNE: London copper edged away from near its lowest level in fortnight on Wednesday as the dollar fell and after hefty stock builds in Asian warehouses underlined the tepid state of Chinese demand.A surge of copper into Asian warehouses has revived concerns that China is shipping out its surplus metal, ramping downward pressure on international prices. Chinese trade data out later in the day is expected to cast fresh light on demand in May.At the ...

Markets - Commodities - Australia

London copper slips from 4-week high on slow demand, but weaker dollar supports MELBOURNE: London copper fell back on Tuesday as demand slackened after prices hit four-week highs in the previous session, but a weaker dollar offered support after Federal Reserve Chair Janet Yellen said a rate hike was on the horizon but did not specify when.Yellen on Monday gave a largely upbeat assessment of the U.S. economic outlook and said interest rate hikes are coming but gave little sense of timing.The dollar was lose to four-week lows ...

Markets - Commodities - Australia

London copper hits four-week high as dollar stumbles MELBOURNE: London copper climbed on Monday to its highest in four weeks after a shock miss in May's U.S. jobs data pushed back expectations for a rate rise this month and pummeled the dollar.The U.S. economy created the fewest number of jobs in more than 5-1/2-years in May, which could make it harder for the Federal Reserve to raise interest rates.As a result, the dollar languished at its lowest in over three weeks in early ...