01202017Fri
Last update: Fri, 20 Jan 2017 12pm

Europe

Markets - Commodities - Europe

Soybean prices fall as Argentina crop concerns ease LONDON: US soybean futures were lower on Wednesday as drier weather in Argentina helped to curb crop concerns following heavy flooding and corn prices also eased slightly.The Chicago Board of Trade most-active July soybean contract was off 0.3 percent to $10.23-3/4 a bushel at 1033 GMT."Soybeans have had such an incredible run-up and it looked like bit of an over reaction, given the outlook on supplies," said Phin Ziebell, agribusiness economist at National Australia Bank in Sydney. "The rally was mainly driven by weather concerns in Argentina which are easing now."Argentina's soybean crop has taken a hit with heavy rains at the time of harvest curbing yields. The Buenos Aires Grains Exchange has dropped its 2015-16 soybean crop estimate to 56 million tonnes from a previous forecast of 60 million tonnes.But the weather conditions in Argentina are now improving.CBOT July corn was off 0.1 percent at $3.86-3/4 a bushel.In the ...

Markets - Commodities - Europe

Gold rises as dollar weakens ahead of Fed policy outcome LONDON: Gold rose for a third straight session on Wednesday as weaker than expected U.S. data weighed on the dollar ahead of the Federal Reserve's monetary policy decision later in the day.The Fed is likely to keep interest rates steady, with the focus resting squarely on the tone of its statement and any hints on the timing of any future increases. The U.S. central bank raised rates in December for the first time in nearly ...

Markets - Commodities - Europe

Sugar eases ahead of cane data, cocoa off 4-1/2 month high LONDON: Raw sugar on ICE eased on Wednesday as traders awaited Brazilian cane data expected to show a rapid crush in the first half of April, while London cocoa dipped after touching its highest level in 4-1/2 months.Coffee edged up, supported by a soft dollar. A weaker dollar makes dollar-based commodities cheaper in other currencies.Several traders expected the cane crush data from Unica, an industry group, expected at 1400 GMT, to show a record crush ...

Markets - Commodities - Europe

Copper slides as worries about China demand resurface LONDON: Copper prices fell on Tuesday in a sell-off fuelled by worries that expectations of stronger demand in top consumer China were overly optimistic, though a weaker dollar helped support prices. Benchmark copper on the London Metal Exchange closed down 0.7 percent at $4,962 a tonne. "Going back to January everybody was extremely bearish about China and they are way too optimistic now," Oxford Economics analyst Dan Smith said. "We're going to see a significant ...

Markets - Commodities - Europe

Vietnam coffee premiums in Europe hold up despite futures rally LONDON: Vietnamese physical robusta coffee premiums remain strong in Europe despite a futures rally, boosted by strong demand from roasters while concerns about dry weather has slowed the pace of farmer selling, European traders said on Tuesday.Traders quoted grade 2 Vietnamese robusta at $50 over July futures this week, unchanged from a week ago. Benchmark futures hit a five-month high of $1,602 per tonne on April 21.Dealers noted buoyant demand for Vietnamese robusta, saying many ...

Markets - Commodities - Europe

European wheat under pressure as large crop looms PARIS: European wheat prices edged lower on Tuesday, under pressure from a firm euro and bearish fundamentals with the prospect of good harvests ahead.May milling wheat on Paris-based Euronext was 1.00 euro or 0.7 percent weaker by 1610 GMT at 151.25 euros a tonne, just above key support of 151.00, after rising to 152.75 euros.Traders said price moves remained sensitive to fund positioning which sent the market higher last week without the support of fundamental. ...

Markets - Commodities - Europe

European vegoils-Crude palm oil eases on weaker ringgit ROTTERDAM: Crude palm oil was offered mostly easier on Tuesday on the back of a weaker ringgit, which at the same time underpinned firm Malaysian palm oil futures due to export hopes. "The easier ringgit made palm oil cheaper for foreign buyers, which could boost export demand," one broker said. Crude palm oil was offered between $2.50 a tonne up from Monday and $10 a tonne down after Malaysian palm oil futures closed between 15 ...