02142016Sun
Last update: Sun, 14 Feb 2016 07pm

Australia

Markets - Commodities - Australia

Soybeans edge higher as market awaits USDA report PARIS/SYDNEY: Chicago soybeans edged higher on Friday, keeping them on course for their first weekly gain in five, as the market anticipated the US Department of Agriculture will cut its US harvest outlook in a crop report later in the day. Corn was almost unchanged but set to finish the week up 3 percent as expectations the USDA will also trim its corn crop forecast were reinforced by some disappointing early harvest reports. Wheat edged lower after a rebound this week from a five-year low, with talk that Russia is considering reducing an export tax adding to bearish export sentiment at a time of swelling global supply. Price movements were limited as grain markets were subdued in the run-up to the monthly USDA forecasts at 1600 GMT. Chicago Board of Trade November soybeans rose 0.2 percent to $8.75-3/4 a bushel. The contract is poised to finish the week up 1 ...

Markets - Commodities - Australia

Australian wheat lowest in Iraq's 50,000 tonnes hard wheat tender HAMBURG: Australian wheat was offered lowest at $231.70 a tonne c&f free out in a tender by Iraq's state grains board seeking at least 50,000 tonnes of hard wheat, European traders said on Monday.The tender closed on Sunday and offers must remain valid up to Thursday, Sept. 3, traders said. No purchase had yet been made, they said. The Australian offer was made for 50,000 tonnes, they said.Russian wheat was offered lowest at $234.00 a ...

Markets - Commodities - Australia

London copper sags on stronger dollar, weak China outlook MELBOURNE: London copper slipped back on Wednesday towards six-year lows as the dollar rose on heightened expectations the US Federal Reserve could raise interest rates in September and amid a bearish backdrop for China demand. Atlanta Federal Reserve President Dennis Lockhart said it would take "significant deterioration" in the US economy for him to not support a rate hike in September, lifting the dollar, and eroding purchasing power for buyers with other currencies. Commodities demand ...

Markets - Commodities - Australia

Australia's Roy Hill iron ore mine said to be facing short delay SYDNEY: The start-up of the $10 billion Roy Hill iron ore mine under construction in Australia has been postponed until the second week of October because of bad weather and safety problems earlier this year, according to a media report.The mine, 70 percent owned by Australian billionaire Gina Rinehart's private Hancock Prospecting and the last of the mega-projects planned during a boom that is now over, was originally targeting a September start.The Australian Financial Review ...

Markets - Commodities - Australia

Corn firms, dry weather forecast caps gains SYDNEY/PARIS: US corn rose more than 1 percent on Thursday to extend gains into a second straight session, though forecasts for more favourable weather provided some headwind.Soybeans rose 0.5 percent, while wheat was unchanged near a three-week low.Chicago Board of Trade September corn rose 1.0 percent to $4.34 a bushel, having closed up 0.2 percent on Wednesday.Analysts said a slightly wetter weather outlook was underpinning some gains."Feed demand seems to be impatient," said Tobin Gorey, ...

Markets - Commodities - Australia

London copper up on Greece relief; China worries cap gains MELBOURNE: London copper climbed on Thursday as risk appetite revived after Greece's parliament passed severe austerity measures but gains were capped on persistent concern that China's volatile sharemarket could upset early signs of economic recovery.Euro zone jitters began to ease after the Greek parliament passed a sweeping package of austerity measures demanded by European partners.China stocks rebounded on Thursday, but traders were still cautious about whether China could contain its volatile sharemarket after last week's ...

Markets - Commodities - Australia

Mining giant Rio Tinto cuts iron ore target SYDNEY: Anglo-Australian miner Rio Tinto Thursday cut its full-year guidance for iron ore shipments after poor weather hit its operations in the first half of the year.The mining giant said it now expects to ship around 340 million tonnes during the 2015 calendar year after unseasonal weather, including two cyclones, in Western Australia reduced capacity at its Pilbara operations by seven million tonnes. It had previously forecast annual shipments of around 350 million tonnes."Due to ...