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Palm oil easier on follow-through selling  ROTTERDAM: Palm oil on the European vegetable oil market slipped further on Wednesday because of follow-through technical selling on worries over the global economy and prospects for further growth of palm oil stocks.   * "The worries over the US economy and therefore the growth of the global economy pressured prices in various markets. Markets closed a touch off the lows on some bargain hunting," one broker said.   * Palm oil was offered between $5 and $12.50 a tonne down from Tuesday after Malaysian palm oil futures closed between 15 and 29 ringgit per tonne down on concerns over the US budget woes that could hamper global economic growth and therefore demand for commodities.   * Jan/March RBD palm olein traded $10 down from Tuesday between $825 and $817.50 a tonne fob Malaysia, April/June changed hands between $850 and $845, also down $10 also.   * At 1700 GMT CBOT soyoil futures were 0.05 and 0.43 cents ...

EU wheat touches two-week high on tight global supply outlook  HAMBURG: European wheat futures touched their highest level in two weeks on Wednesday on support from rising US prices as the poor condition of wheat crops in the United States added a further risk to weather-reduced global grain supplies.   * Benchmark January milling wheat on the Paris futures market was up 2.50 euros or 0.91 percent at 275.75 euros a tonne by 1658 GMT.   * The contract earlier reached 276.25 euros, a level last seen on Nov. ...
Copper dips on Greek deal uncertainty, US budget talks  LONDON: Copper fell on Wednesday as investors shunned riskier assets on concerns about the details of Greece's new debt deal and lack of progress in US budget talks aimed at averting automatic tax hikes and spending cuts in January.   Lenders agreed to cut Greece's debt on Tuesday, preventing an imminent bankruptcy, but some details of the deal are unclear and investors worry it did not do enough to ensure the debt is sustainable.   There are also concerns ...
Gold drops more than 2pc to two-week low  LONDON: Gold prices fell 2 percent on Wednesday, their biggest one-day drop in three weeks, as the dollar's jump against a basket of currencies and broad-based selling of commodities triggered sell stops, sparking a $20 price drop in less than five minutes.   More than 2 million ounces of Comex gold futures were traded in that time. Selling accelerated as prices fell through the $1,730-1,732 area, traders said, the metal's 10-day moving average and an area of ...
US wheat near 2-week top on poor crop ratings  PARIS/SYDNEY: US wheat futures hit their highest in almost two weeks on Tuesday as another record low for US wheat crop ratings underlined supply tensions following a string of weather-affected harvests around the world.   Soybeans rose nearly 1 percent to a two-week high on concerns over unfavourable crop weather in Brazil threatening a forecast bumper crop, while corn also firmed.   The grains and oilseed complex as a whole was buoyed by news that euro zone countries and ...
Copper up slightly to 3-week high on Greek deal  LONDON: Copper rose slightly to hit a 3-week high on Tuesday, after global lenders struck a deal to reduce Greece's debt on Monday, boosting financial markets and brightening prospects for base metals demand.   Euro zone finance ministers and the International Monetary Fund clinched agreement on reducing Greece's debt, in a breakthrough to release urgently needed loans to keep the near-bankrupt economy afloat.   "It is certainly a positive development that Greece finally can receive this package as far ...
Ukraine wheat sales near to informal limit  KIEV: Ukraine exported 5.42 million tonnes of wheat as of Nov. 26 or 80,000 tonnes below the maximum volume of exports agreed by traders and the Agriculture Ministry for the 2012/13 season, analyst ProAgro said on Tuesday.   Ukrainian traders said last week they were ready to halt milling wheat exports on an informal basis, as they approach a critical limit, in order to protect the domestic market after a poor harvest.   The consultancy said the volume included 4.583 million ...


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