05292016Sun
Last update: Sun, 29 May 2016 05am

Europe

Markets - Commodities - Europe

Raw sugar prices ease as upward momentum slows LONDON: Raw sugar futures were lower on Thursday with the market losing upward momentum after climbing to a 1-1/2 year high a week ago, increasingly the likelihood of a fund-driven sell-off.Coffee futures also eased as weather risks for 2016/17 crops diminished while cocoa prices were little changed.The July raw sugar contract was off 0.08 cents or 0.5 percent at 16.73 cents a pound at 1102 GMT.The front month peaked at 17.00 cents on May 12, its highest level since October 2014, but has struggled to overcome stiff resistance around that level with producer hedging helping to cap the advance."The market has developed something of a holding pattern in the past week or so. While that stability is a welcome breather these interludes can sow the seeds of their own destruction," Commonwealth Bank of Australia analyst Tobin Gorey said."Investors are heavily long sugar. Momentum investors will be a significant chunk of ...

Markets - Commodities - Europe

Corn eases from one-month high as dollar extends rally PARIS/SINGAPORE: Chicago corn futures eased on Thursday as further strength in the dollar prompted investors to take profits after a five-day rally took corn to a near one-month peak in the last session.The dollar rose in European trading to its highest since late March against a basket of currencies, extending gains from Wednesday when the minutes of the US Federal Reserve's last policy meeting revived expectations for a June interest rate hike."The dollar strength is ...

Markets - Commodities - Europe

Gold slides to three-week low on Fed rate expectations LONDON: Gold fell to a three-week low on Thursday, extending the previous day's slide, after minutes from the Federal Reserve's April policy meeting signalled that it could raise US interest rates as soon as next month.The minutes indicated that the US central bank is likely to raise rates if economic data points to stronger second-quarter growth as well as firming inflation and employment.Gold is highly sensitive to interest rate hikes, which increase the opportunity cost ...

Markets - Commodities - Europe

Gold slides to 3-week low on Fed rate hike expectations LONDON: Gold fell to a three-week low on Thursday, extending the previous day's slide, after minutes from the Federal Reserve's latest policy meeting signalled it could raise US rates as soon as next month.The minutes, from the Fed's April meeting, indicated that the US central bank will likely raise interest rates in June if economic data points to stronger second-quarter growth as well as firming inflation and employment.Gold is highly sensitive to interest rate hikes, ...

Markets - Commodities - Europe

Strategie Grains cuts EU wheat stocks, lifts maize PARIS: Consultancy Strategie Grains on Thursday again lowered its forecasts for European Union soft wheat stocks in 2015/16 and 2016/17 due to higher exports and feed demand as EU prices prove competitive on world markets. It expects EU wheat stocks at the end of the current 2015/16 season of 14.7 million tonnes, down 900,000 tonnes from its projection last month.This was mainly due to a similar rise in its forecast for EU wheat exports which ...

Markets - Commodities - Europe

Copper hovers around three-month low on dollar pressure, weak demand LONDON: Copper extended losses on Thursday, weighed down by a stronger dollar, the potential for a US interest rate increase next month and worries about lacklustre demand. Prices drifted towards the lowest levels in three months after minutes from the Federal Reserve's April policy meeting showed officials indicated that the US economy could be ready for another interest rate increase in June.Those comments sent the dollar index to a three-week high, making dollar-priced commodities less ...

Markets - Commodities - Europe

EU wheat pulls back from 2-week high, crop outlook good HAMBURG: European wheat prices fell on Wednesday in light volumes as the market pulled back after a rally to a two-week highs in the previous session.Brisk export activity continued to underpin prices, with a weaker euro further brightening EU export prospects. But a broadly favourable outlook for this summer's harvest in Europe was capping the market.September milling wheat on the Paris-based Euronext exchange was down 0.6 percent, or 1 euro, at 163.75 euros a tonne ...