Wednesday, 24 April 2013 20:18
Posted by Abdul Ahad
LONDON: Raw sugar futures fell towards a recent 2-1/2 year low on Wednesday, pressured by the prospect of a huge harvest in Brazil.Arabica coffee clawed back some of the prior session's steep losses, while cocoa was little changed.Dealers said incentives for ethanol production in Brazil may help underpin sugar prices but would not prevent a rise in sugar output from the world's top grower. Sugar and ethanol compete for available cane supplies in Brazil."The current ...
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LONDON: The International Grains Council said on Thursday that global maize production is expected to rise by 10 percent in 2013/14 to a record 939 million tonnes, restoring stocks to above average levels.Global wheat production is forecast to rise more modestly by around four percent to 680 million tonnes, the IGC said in a monthly report.The IGC said global maize stocks were expected to rise by 27 million tonnes to 143 million by the end of the 2013/14 season while wheat stocks were forecast to climb by 2 million tonnes to 181 million. Copyright Reuters, 2013 ...
LONDON: Raw sugar futures on ICE extended losses to hit their lowest in almost three years on Thursday, overwhelmed by excess supplies, with more losses on the cards as the market anticipated a record cane crop from key producer Brazil.May raw sugar futures hit 17.25 cents, the lowest level for the benchmark front-month contract since July 2010, before settling back to stand 0.09 cent or 0.5 percent lower at 17.31 cents a lb at 1406 ...
NEW YORK: Oil prices rallied as much as 2 percent on Wednesday due to falling US gasoline stockpiles while copper and gold advanced as the dollar weakened against the euro.Corn rebounded from a two-week low as soybean and wheat prices turned weak on US weather-related factors affecting crop output.Sugar dropped to its lowest levels in nearly three years on continued speculator selling as the market faced its third straight annual surplus.The Thomson Reuters-Jefferies CRB index, ...
BUENOS AIRES: Argentina's closing soy prices and trends on Wednesday:In the main grains market of Rosario, soy traded lower at 1,600 to 1,640 pesos ($309/$317) per tonne compared with 1,645 per tonne on Tuesday. The bearish tone to the session was set by low demand and benchmark Chicago futures, local traders said.Chicago Board of Trade soybean futures closed lower on Wednesday on long liquidation ahead of expected movement soon of soy from South America's big ...
LONDON: Gold rose on Wednesday as physical demand encouraged speculative buying after the previous session's drop, while support also came from weak German economic data which fuelled prospects the European Central Bank (ECB) could cut interest rates.Investor confidence is still reeling from gold's spectacular falls and outflows from exchange-traded funds show no signs of abating, although demand for gold bars and coins surged after prices plunged to their weakest in more than two years on ...
MEXICO CITY: Mexico's current coffee harvest is expected to shrink 10 percent compared with the previous crop, in part because of the spread of the roya fungus, a top official with the agriculture ministry told Reuters on Tuesday.Coffee output in Mexico, the region's third-biggest producer, will total 3.9 million 60-kilogram bags during the current 2012/2013 season, down from 4.3 million bags produced during the previous season, said Belisario Dominguez, head of the ministry's productivity and ...
