08282016Sun
Last update: Sun, 28 Aug 2016 01pm

Europe

Markets - Commodities - Europe

Raw sugar prices rise on weak dollar, commodity gains LONDON: Raw sugar futures were higher on Tuesday, boosted by further strength in crude oil and other commodity markets, a weaker dollar and positive technical indicators following the prior session's strong performance.Arabica coffee and New York cocoa futures also edged up while the sterling-denominated London cocoa contract was slightly lower.ICE Oct raw sugar was up 0.20 cent, or 1.0 percent, at 20.18 cents per lb by 1107 GMT.Dealers said the market also received background support from the prospect in tightening supplies in coming months although nearby availability remained ample."In the short-term there is sufficient supply due to the strong progress of the Brazilian crush. In the longer-term the situation is more constructive for prices due to expected deficits in 2015/16 and 2016/17," F.O. Licht analyst Stefan Uhlenbrock said."The market is more or less moving between these two factors."Dealers noted sugar had spillover support from the current strength of the crude ...

Markets - Commodities - Europe

Copper steadies from month low, but China prospects weigh LONDON: Copper steadied on Monday as a softer dollar provided some support, but slowing growth in top consumer China kept the metal within sight of one-month lows hit the previous session. Benchmark copper on the London Metal Exchange ended up 0.1 percent at $4,767 a tonne. On Friday, the metal used in power and construction hit $4,750.50 a tonne, its lowest since July 12. The sell-off last week was triggered by a run of weaker-than-expected ...

Markets - Commodities - Europe

European vegoils-Prices rise on China demand, CBOT soyoil surge LONDON: Prices on Europe's vegetable oils market were sharply higher on Monday with strong demand from China and surging CBOT soyoil futures helping to fuel the rise. EU rapeoil asking prices were raised by between 11 and 15 euros a tonne, while Nov/Jan delivery traded from 727 up to 730 euros a tonne. The market has now risen around 40 euros since the end of last month. "We've had Chinese demand but this is overdone ...

Markets - Commodities - Europe

EU wheat mixed late after US markets turn down HAMBURG: European wheat futures ended mixed on Monday, pulling back from early-day strength as US futures turned lower in initial Monday trade in Chicago.EU prices had been supported earlier on Monday by a rise in US wheat markets which moved up despite a report on Friday from the US Department of Agriculture (USDA) which forecast plentiful global supplies. But most active US September wheat turned lower and was down 1.2 percent in early Chicago dealing.Front-month ...

Markets - Commodities - Europe

Chinese demand supports soybeans despite record US crop forecast HAMBURG: US soybean futures climbed almost 2 percent on Monday, recovering from losses on Friday as strong demand from China offset aUS Department of Agriculture (USDA) forecast of record US soybean and corn harvests."The main price driver today is Chinese demand for soybeans which is causing remarkable price strength in soybeans in the face of a bearish USDA report with a record US harvest forecast," said Frank Rijkers, agrifood economist at ABN AMRO Bank. "Wheat ...

Markets - Commodities - Europe

Raw sugar drifts lower as Brazil cane crush data awaited LONDON: Raw sugar futures were slightly lower on Monday as the market awaited the release of Brazil cane crushing data which was expected to show a strong pace during the second half of July.Dealers said dry weather had boosted cane crushing in the key Centre-South region and should help keep the global market well supplied in the short term.A survey conducted by S&P Global Platts estimated the crush in the second half of July at ...

Markets - Commodities - Europe

Gold firm on lower dollar, eyes on US rate hike signals LONDON: Gold rose on Monday as the dollar edged lower after sluggish US retail sales data lowered expectations of a US interest rate increase this year.Data on Friday showed US retail sales were unexpectedly flat in July, signalling a moderation in consumer spending.Spot gold was up 0.3 percent at $1,339.87 an ounce by 1138 GMT. The metal rose as much as 1.3 percent after the data on Friday, before giving up gains.US gold was up ...