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

Europe

Markets - Commodities - Europe

European vegoils-EU rapeoil falls as CBOT soyoil slides LONDON: EU rapeseed oil prices were sharply lower on Thursday, erasing some of this month's strong gains, tracking weakness in CBOT soybean oil. Sellers cut asking prices for EU rapeoil by 5 to 11 euros a tonne, with Nov/Jan now offered at 734 euros, still 43 euros above end-July levels. The decline mirrored a sharp setback in CBOT soybeans and soybean oil linked to an improving outlook for the US crop. The most active CBOT soybean oil contract was off 2.1 percent at 33.29 cents a lb at 1604 GMT. Palm oil prices in Europe were also mostly lower. RBD palm olein offers were $7.50 to $12.50 a tonne lower with January/March shipment last traded at $645 a tonne, down $12.50 from last business on Wednesday. Malaysian palm oil futures recorded their first session of declines in three on Thursday, weighed down by weaker related vegetable oils, despite strong cargo ...

Markets - Commodities - Europe

Nickel hits six-week low as Philippines concerns ebb LONDON: Nickel slumped to the lowest in over six weeks on Thursday after worries eased that an environmental crackdown on mines in the Philippines would create shortages of metal. Nickel had surged 32 percent from the beginning of June until it hit a one-year peak in early August as authorities in the Philippines launched a campaign to close mining operations that failed to meet environmental regulations. "It did feel that the market got ahead of ...

Markets - Commodities - Europe

EU wheat down on new reports of hefty global supplies  PARIS: European wheat prices fell on Thursday after the International Grains Council (IGC) raised its forecasts for both world corn and wheat production in the 2016/17 season, taking them to record highs.December milling wheat on Paris-based Euronext, was down 1.50 euros or 0.9 percent by 1540 GMT to 165.00 euros a tonne after falling to 164.25 euros after the IGC data.The IGC projected world wheat production in 2016/17 at 743 million tonnes, up from a ...

Markets - Commodities - Europe

Arabica coffee prices edge up on Brazil crop concerns LONDON: Arabica coffee futures were slightly higher on Thursday, boosted partly by concerns that rains in Brazil could lead to early flowering of the crop, while sugar and cocoa prices also rose.December arabica coffee was up 0.5 percent at $1.4385 per lb at 1202 GMT."What is sustaining the market is the rains we have had in Brazil," Rabobank analyst Carlos Mera said."They (the rains) may lead to early flowering and if these flowers are not ...

Markets - Commodities - Europe

Gold edges off 4-week low, awaits clues on Fed policy LONDON: Gold edged off the previous day's four-week low on Thursday as the dollar retreated, but prices were rangebound ahead of a speech by Federal Reserve Chair Janet Yellen this week which will be watched for clues on monetary policy.Investors are hoping Yellen will give a clearer signal on the path of interest rate hikes when she addresses a meeting of central bankers in Jackson Hole, Wyoming, on Friday.Gold is highly sensitive to rising US ...

Markets - Commodities - Europe

European vegoils-Palm oil prices climb on rising export demand LONDON: Palm oil prices in Europe were mostly higher on Wednesday with the market boosted by strong export demand, particularly from India and China. Sellers raised prices for crude palm oil by $2.50 to $12.50 a tonne while product prices were also mostly higher. RBD palm olein offers were unchanged to $5.00 a tonne higher with January/March shipment last traded at $657.50 a tonne, up $12.50 from last business on Tuesday. Malaysian palm oil exports ...

Markets - Commodities - Europe

Copper hits two-month low as Asian inventories rise LONDON: Copper prices fell to two-month lows on Wednesday as rising inventories in Asian warehouses fuelled fears about weaker demand ahead in top consumer China. A stronger dollar, eroding the purchasing power of commodity buyers outside the United States, and a slide in oil prices also pressured industrial metals prices. Benchmark copper on the London Metal Exchange (LME) slumped 1.7 percent to close at $4,632 a tonne, its lowest since June 24. Stocks of copper ...