09272016Tue
Last update: Tue, 27 Sep 2016 08am

Europe

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 6 percent this month.A generally softer dollar makes commodities that are priced in the US currency less expensive for buyers using other currencies; a relationship used by funds to generate buy and sell signals.Rising inventories of copper in LME-approved warehouses, up more than 80,000 tonnes since the middle of August to 293,525 tonnes, have weighed on copper prices."The high level of stocks is a reflection of the development in the underlying market, it is pointing ...

Markets - Commodities - Europe

Gold edges higher but heads for monthly drop in August LONDON: Gold edged higher on Wednesday as the dollar softened, but remained on course to snap two months of gains in August on mounting speculation the Federal Reserve could raise interest rates sooner rather than later.Investors are awaiting US non-farm payroll data this week for further clues on the timing of a US rate hike after Fed officials sounded a hawkish note at a meeting last weekend.Spot gold was $1,314.16 an ounce at 0932 GMT, ...

Markets - Commodities - Europe

Wheat faces 4th month of decline, soybeans fall for 7th day HAMBURG/SINGAPORE: Chicago wheat futures were on track for a fourth consecutive month of losses on Wednesday as bumper global supplies drag down the market, while expectations of a record US crop kept corn near multi-year lows.Soybeans slid for a seventh consecutive session to trade around last session's four-week low as the US crop enjoys almost ideal growing conditions.Chicago Board of Trade September wheat fell 0.2 percent to $3.62-1/2 a bushel at 0950 GMT after hitting ...

Markets - Commodities - Europe

Russian wheat export prices edge down on weaker rouble MOSCOW: Russian wheat export prices fell slightly last week on a 1.5 percent weakening in the rouble that made Russian grains more competitive on global dollar-denominated markets, analysts said on Monday. Black Sea prices for Russian wheat with 12.5 percent protein content and for September delivery were $172 a tonne on a free-on-board (FOB) basis at the end of last week, down $1 from a week earlier, Russian agricultural consultancy IKAR said. SovEcon quoted FOB ...

Markets - Commodities - Europe

European feeds-Soymeal continues to fall on good US yield prospects PARIS: Soymeal on the animal feed market continued to fall on Monday as favourable signs for this year's US soybean harvest continued to weigh on the oilseed complex, traders said. The US Pro Farmer Midwest Tour on Friday projected the US 2016 soybean harvest at a record 4.093 billion bushels, with a yield of 49.3 bushels per acre, above the USDA's latest estimate of a yield at 48.9 bushels per acre. EU high-protein soymeal for ...

Markets - Commodities - Europe

EUROPEAN VEGOILS-Prices mostly weaker as palm oil, soyoil fall HAMBURG: Prices were generally weak in Europe's vegetable oil market on Monday, pushed down by drops in benchmark Malaysian palm oil and Chicago soyoil futures, and pressured by lower crude oil. The main European trade was reported in palm olein, crude palm oil and coconut oil (see list below). Malaysian palm oil futures fell on Monday, hitting a two-week low and recording a third straight session of declines due to weaker mineral oil prices and ...

Markets - Commodities - Europe

EU wheat pulled down by Chicago slump, Egypt import move PARIS: European wheat fell to six-week lows on Monday, hit by a slump in US wheat futures to 10-year lows on hefty global supplies and concerns Egypt's new import policy might result in grain shipments being resold.Benchmark December milling wheat on the Paris-based Euronext settled 2 percent lower at 161.00 euros a tonne. Traders put the next support level at between 156 and 156.50 euros.The most active December Chicago Board of Trade wheat futures fell ...