Europe
Thursday, 25 April 2013 03:55
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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, an index of commodities, rose 0.7 percent for its first positive close in three sessions.Eight of the 19 commodities on the CRB ended up 1 percent or more as the euro rose against the dollar on optimism that Italy could form a new coalition government, overcoming political gridlock.Sugar and cotton led the CRB's declines, falling 2 percent or more.In oil, London's Brent gained more than $1 a barrel and US crude rose nearly $2 as ...
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: 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 ...
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 ...
NEW YORK: Brent crude oil edged down on Tuesday in reaction to weak manufacturing data in China and Europe, but it closed above $100 a barrel for the second straight day as it drew some support from strong gains in US equity markets. The flash HSBC Purchasing Managers' Index fell to 50.5 in April from 51.6 a month earlier as new export orders shrank in China.The PMI's 50-point level divides growth from contraction from ...
NEW YORK: ICE cotton fell to a nearly two-month low on Tuesday as investors were seen continuing to liquidate long positions ahead of spot contract expiry, taking profits following a rally to a one-year high last month.The most-active July cotton contract on ICE Futures US closed down 1.05 cents, or 1.2 percent, settling at 85.10 cents per pound.The price fell as low as 84.85 cents per lb, the lowest level since late February, in late-session ...
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