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Last update: Mon, 23 Jan 2017 05am

Europe

Markets - Commodities - Europe

Cocoa prices fall to four-week low, sugar also weaker LONDON: Cocoa futures fell to four-week lows on Wednesday on largely technically driven selling against the backdrop of an improving outlook for production in top grower Ivory Coast. "There is technical selling but also people mentioning the Ivorian crop is looking potentially better, with rains falling at the right times in the right places during the past few days," one dealer said. December London cocoa was off 9 pounds, or 0.4 percent, at 2,297 pounds a tonne by 1424 GMT after dipping to a low of 2,293 pounds, its weakest since Aug. 3. Prices have fallen during the past few days after December set a contract high of 2,458 pounds on Aug. 19. Dealers said the market could test key support at its recent low of 2,247 pounds. "There is still scope for the market to fall another 50 pounds or so," another dealer said. Dealers said volumes in London ...

Markets - Commodities - Europe

European feeds-Soymeal down again on prospects of abundant supplies PARIS: Soymeal prices on the European animal feed market fell further on Wednesday, still pressured by a weaker US soybean complex, traders said Chicago Board of Trade soybeans slid for a seventh consecutive session on Wednesday to trade around last session's four-week low as the US crop enjoys almost ideal growing conditions. The US Department of Agriculture (USDA) on Monday rated 73 percent of the US soybean crop as good to excellent, up from the ...

Markets - Commodities - Europe

Copper ends August with 6pc monthly loss LONDON: Copper rose on Wednesday as investors covered short positions but it ended August with a 6 percent loss for the month after rising inventories in Asia signalled muted demand from top consumer China. Benchmark copper on the London Metal Exchange ended up 0.2 percent on the day at $4,617 a tonne helped by funds and traders squaring short positions. Rising inventories of copper in LME-approved warehouses, up more than 80,000 tonnes since the middle ...

Markets - Commodities - Europe

European vegoils-Palm oil flat on day, sharply up for month LONDON: Crude palm oil prices were largely flat on Wednesday in thin conditions due to a holiday in Malaysia, but posted strong gains for the month buoyed by increased export demand. Crude palm oil for September shipment was offered at $755 per tonne on Wednesday, down $5 from the previous day but still $110 up from the end of July. "Demand for crude palm oil from traditional buyers increased tremendously in August, due to restocking ...

Markets - Commodities - Europe

EU wheat prices slip on fears of Egyptian import disruption HAMBURG: European wheat prices edged lower on Wednesday in thin trade due to problems with Egypt's latest international wheat purchase tender suggesting there could be less import demand in the weeks ahead.Egypt's state grains buyer GASC received only one offer on Wednesday at its first wheat purchase since reinstating a zero-tolerance policy on ergot fungus, in a near complete boycott by wheat exporters that underscores the difficulty of sourcing grains under the rule."If wheat cannot ...

Markets - Commodities - Europe

Gold slides to two-month low after US jobs data LONDON: Gold slid to a two-month low on Wednesday after forecast-beating US jobs data stoked speculation that the Federal Reserve would move ahead with plans to raise interest rates, propelling the dollar index to its highest in three weeks.The dollar rose after a report by a payrolls processor showed US private employers added 177,000 jobs in August, above economists' forecasts. That supported expectations for Friday's closely watched US payrolls report to be strong.An upbeat payrolls ...

Markets - Commodities - Europe

Copper rises on profit taking, softer dollar LONDON: Copper inched up on Wednesday on profit taking and a weaker dollar, but the metal was on track to end August in the red as rising inventories in Asia signalled muted demand from top consumer China.Benchmark copper on the London Metal Exchange was untraded in official rings but bid up 0.2 percent at $4,617 a tonne, helped by funds and traders squaring short positions.Prices of the metal used in power and construction have fallen ...