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Last update: Tue, 31 May 2016 05pm

Europe

Markets - Commodities - Europe

Copper slides as US rate rises come into view LONDON: Copper prices slipped on Monday towards the three-month lows hit last week as expectations that the U.S. Federal Reserve will raise interest rates in June reinforced worries about weak demand growth in top consumer China.Benchmark copper on the London Metal Exchange was down 0.3 percent at $4,565 a tonne at 0900 GMT, having last week touched $4,540, its lowest since the middle of February.Higher U.S. rates could mean a stronger dollar, which has a negative effect on commodities demand because it makes them more expensive for buyers paying with other currencies.Expectations of an imminent rate rise were boosted by last week's release of the minutes of the Fed's April meeting and a Fed official saying that conditions for an increase are "on the verge of broadly being met"."The market is now pricing in a significant possibility of a rate hike next month, depending on data," said Peter Fertig, a ...

Markets - Commodities - Europe

Russian wheat export prices down ahead of new crop MOSCOW: Russian wheat export prices fell last week ahead of the new crop, which is likely to arrive in July, and following a slide in global benchmarks, analysts said on Monday.Black Sea prices for Russian wheat from the old crop with 12.5 percent protein content were $191.5 per tonne on a free-on-board (FOB) basis at the end of last week, Russian agricultural consultancy IKAR said in a note.Prices for the new crop with supply in ...

Markets - Commodities - Europe

Soy slips back, wheat stays weak in broad commodity fall PARIS/SINGAPORE: Chicago soymeal futures edged lower on Monday as a retreat across commodities encouraged the oilseed market to consolidate after an 18-month high before the weekend due to concerns about rain losses in Argentina's soybean harvest.Soybean futures also eased as investors focused on a steady dollar and the possibility of a US interest rate rise, as well as oversupply in crude oil.Corn and wheat tracked the down move. Wheat was on course for a fourth ...

Markets - Commodities - Europe

Gold near three-week lows on Fed rate expectations LONDON: Gold dipped on Monday to a near three-week low on expectations the US Federal Reserve will hike interest rates as early as June.Bullion has been under pressure since the Fed last week released the minutes of its April meeting, which showed officials believe the US economy could be ready for another interest rate increase next month.Higher interest rates increase the opportunity cost of holding non-yielding bullion.Eric Rosengren, president of the Federal Reserve Bank of ...

Markets - Commodities - Europe

Sugar steadies near 22-month high, coffee little changed LONDON: Raw sugar futures on ICE held steady on Monday in sight of last week's 22-month high, buoyed by expectations of tightening supplies, while coffee was little changed, supported by a poor robusta harvest in Brazil.Cocoa edged up, underpinned by concerns over the impact of dry weather on mid crops in West Africa.Raw sugar futures were little changed as the market took stock of U.S. data showing a new record net long position held by ...

Markets - Commodities - Europe

London copper near three-month low on US rate outlook MELBOURNE: London copper was mired near three-month lows on Monday as the dollar held strong on expectations the United States could raise interest rates next month, boosting capital costs and encouraging investors to bet prices would fall further. The US economy continued to gather pace during the second quarter, with home resales climbing, while conditions for a rate increase are "on the verge of broadly being met," a Federal Reserve member, said.A stronger dollar has ...

Markets - Commodities - Europe

EU sugar farmers wrap up planting; cold, wet spells delay growth LONDON: EU sugar beet farmers have ended their plantings in generally favourable conditions but cold and wet spells in early May delayed some plant growth. French sugar beet crops were in reasonable condition but wet, cool weather during much of the spring caused significant disease pressure and slowed plant development. "Despite sowing running about three days later than last year, beet crops emerged well during April," beet institute ITB said in a note. "But the ...