08292016Mon
Last update: Mon, 29 Aug 2016 06am

Europe

Markets - Commodities - Europe

Raw sugar prices fall as commodity markets weaken LONDON: Raw sugar futures slipped back on Tuesday following the previous session's strong advance, pulled down by overall weakness in crude oil and other commodity markets.Dealers said the market's run-up had been fuelled partly by technically driven buying after prices bounced off a key support level.Heavy rains in Brazil were also seen by some as supportive, slowing the cane crush in the key centre-south region."The crush number for the second half of August could come in below historical norms," one dealer said, adding, however, earlier strong crush levels should ensure there is no shortage of supply in the world's top producer and exporter.Dealers said the rains could benefit next season's crop.October raws were off 0.14 cent or 0.7 percent at 20.28 cents a lb at 1215 GMT.The contract found solid support around its 20-day moving average and mid-Bollinger band on Monday, dipping to a low of 19.66 cents before rallying ...

Markets - Commodities - Europe

London copper near 6 weeks lows as supplies mount MELBOURNE: London copper edged higher on Tuesday on support from a softer US dollar, but the metal was still hanging near six-week lows as swelling supply kept a tight lid on its price prospects. The dollar eased against a basket of currencies ahead of this week's US Federal Reserve meet in Jackson Hole, Wyoming, with opinions mixed on whether officials will make a clear case for an interest rate hike this year.The dollar edged back ...

Markets - Commodities - Europe

EU crop monitor cuts grain maize, soft wheat yield estimates PARIS: The European Union's crop monitoring service significantly cut its forecast on Monday for average maize and soft wheat yields in this year's EU harvest after adverse weather. The MARS service pegged the average EU grain maize yield at 7.23 tonnes per hectare (t/ha) in 2016, down from 7.42 t/ha seen in July, mainly due to dry weather in southeastern Europe. "Exceptionally high maize yields are forecast for Hungary (+29.6 percent above the five-year average) ...

Markets - Commodities - Europe

Russian wheat prices rise for fourth week MOSCOW: Russian wheat export prices rose for a fourth straight week as farmers continued to hold onto their top quality produce, anticipating further price increases after weather-related shortfalls in Europe, analysts said on Monday.Black Sea prices for Russian wheat with 12.5 percent protein content were $170 a tonne on a free-on-board (FOB) basis at the end of last week, up $2 from a week earlier, Russian agricultural consultancy IKAR said.SovEcon quoted FOB wheat prices in ...

Markets - Commodities - Europe

Cocoa extends retreat from one-month high, coffee climbs LONDON: Cocoa futures retreated further on Monday from one-month highs set during the previous session on largely technically-driven selling, dealers said.December New York cocoa fell $122 or four percent to a low of $2,977 a tonne before recovering slightly to $3,005 by 1333 GMT.The contract had climbed to a one-month high of $3,120 on Friday before turning lower as traders started to take profits following strong gains during the last few days."New York is leading ...

Markets - Commodities - Europe

Copper tumbles to five-week low, undermined by higher dollar LONDON: Copper prices fell to five-week lows on Monday as the dollar gained after hawkish comments from a Fed official, inventories rose and a jump in exports from China reinforced worries about demand in the top consumer of the metal.Benchmark copper on the London Metal Exchange was down 0.9 percent at $4,757 a tonne at 0921 GMT. The metal used in power and construction touched $4,738 earlier, its lowest since July 11.The dollar rose after ...

Markets - Commodities - Europe

Wheat price slips 1pc on bumper global supplies; soybeans firm PARIS/SINGAPORE: Chicago wheat fell 1 percent on Monday, pressured by ample global supplies, while soybeans edged up after declining for two sessions although expectations of historically high US production limited gains.Corn slid from Friday's three-week top.The Chicago Board Of Trade's most active wheat contract dipped 1 percent to $4.40-1/4 a bushel by 0950 GMT while corn fell 0.5 percent to $3.42 a bushel, off a high of $3.44-1/4 hit on Friday.Soybeans rose 0.3 percent to ...