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EU wheat market stalled by competing futures contracts PARIS: The upcoming launch of two European wheat futures contracts has stalled forward selling of the region's upcoming 2015 crop, with operators left guessing which of the new products will take off.Euronext will kick off a new, premium wheat contract on March 2, betting that addressing quality issues raised by a rain-hit harvest last year will justify the complexity of running it in parallel to its existing wheat futures that are a European benchmark."Having two (Euronext) contracts is one too many," Michel Portier, head of consultancy Agritel, said."Futures live off physical contracts that are linked to them. All the people who have contracts against Euronext's No. 2 (existing) futures are wondering if they are going to have to switch to the No. 3."In a further shake-up to Europe's wheat market, CME Group , the world's largest futures operator, is expected to launch within weeks its own futures that should offer ...

Arabica coffee hits one-year low, cocoa eases LONDON: Arabica coffee futures hit a fresh one-year low on Thursday, pressured by rainfall in top grower Brazil and a stronger dollar, while cocoa eased after brisk bean arrivals in West Africa.Raw sugar futures recovered in a technical bounce from Wednesday's five-year low, with dealers focused on the expiry of the ICE March futures contract on Friday. "There has been a lot of speculative selling in arabicas in February," said Carlos Mera, commodities analyst with ...
Copper surges to 6-week high as China holiday ends LONDON: Copper jumped on Thursday to the highest in six weeks as bearish investors scrambled to buy futures to close out their positions after Chinese trading resumed following a holiday break.The rest of the LME complex also had a firm undertone due to a resumption of physical buying in China following the Lunar new year holiday, combined with firmer oil prices and decent economic data, analysts said. The gains were curbed, however, as stronger-than-expected data ...
Gold pares gains after firm US data, remains higher LONDON: Gold pared gains on Thursday after stronger-than-expected US data lifted the dollar and impetus from Chinese buying petered out, but it remained higher after the Federal Reserve indicated this week that it was in no rush to raise interest rates. The dollar rose against a currency basket as data on US durable goods orders in January beat forecasts, boosting confidence in business activity despite worries of the recent surge in the dollar hurting exports.That ...
Copper miner Kaz Minerals' 2014 profit above forecasts LONDON: Copper producer Kaz Minerals , formerly known as Kazakhmys, said on Thursday that its Bozshakol project was on track to start production by the end 2015, as it posted annual core profit slightly above analysts' forecasts.Like its peers, the London-listed company is under pressure from a steep fall in the price of copper. In response to shrinking margins, Kaz last year implemented a restructuring which has transformed it into a smaller but lower cost ...
London copper climbs towards 6-wk peak as China trickles in from holiday MELBOURNE: London copper was steady on Thursday, as China-based traders trickled in after Lunar New Year, with focus on physical markets for early signs of appetite in the world's top user of the metal ahead of the second quarter, when demand is usually strongest."We've started the year with the latest Chinese New Year in a long time, so that has subdued the physical market year-to-date," said Daniel Morgan of UBS in Sydney. "Now that's behind ...
EU wheat weak, follows US markets down HAMBURG: European wheat prices fell on Wednesday in the wake of a drop on U.S. markets, with an export-punishing rise in the euro against the dollar adding further pressure.Benchmark May milling wheat on the Paris-based Euronext market, the most actively traded contract, closed (settled) down 1.50 euro or 0.8 percent at 185.25 euros a tonne, still above its next support level put by traders at 184.25 euros.In Chicago, wheat fell as U.S. supplies remained too ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
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