Tuesday, 10 July 2012 23:02
Posted by Shoaib-ur-Rehman Siddiqui
PARIS: European wheat prices eased on Tuesday in step with US futures, which paused for breath after hitting highs a day earlier on drought conditions in the US Midwest.
Wheat pared earlier losses, however, as weather concerns continued.
Benchmark November milling wheat on the Paris futures market shed 2.00 euros or 0.80 percent to 246.75 euros ($300) a tonne after setting a new contract high at 250.25 euros in the previous session.
US wheat tracked a drop in corn, which eased after a 5 percent surge on Monday.
The US Department of Agriculture's (USDA) weekly crop ratings, released late on Monday, confirmed a sharp deterioration in the state of corn and soy crops, keeping ratings at their lowest level since 1988.
The fresh slide was seen as anticipated, although the deteriorating crop prospects put a firm floor under prices.
"We're pricing the fact that Chicago is cooling off and that the crop ratings were already factored ...
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PARIS: European wheat prices eased on Tuesday in step with US futures, which paused for breath after hitting highs a day earlier on drought conditions in the US Midwest.
Wheat pared earlier losses, however, as weather concerns continued.
Benchmark November milling wheat on the Paris futures market shed 2.00 euros or 0.80 percent to 246.75 euros ($300) a tonne after setting a new contract high at 250.25 euros in the previous session.
US wheat tracked a drop in corn, which eased after a 5 percent surge on Monday.
The US Department of Agriculture's (USDA) weekly crop ratings, released late on Monday, confirmed a sharp deterioration in the state of corn and soy crops, keeping ratings at their lowest level since 1988.
The fresh slide was seen as anticipated, although the deteriorating crop prospects put a firm floor under prices.
"We're pricing the fact that Chicago is cooling off and that the crop ratings were already factored ...
LONDON: Copper dipped on Tuesday as demand prospects dimmed after metal imports in top consumer China fell sharply in June and as a weak euro weighed, with investors still concerned about Europe's debt crisis despite efforts to help debt burdened Spain.
Losses were limited, however, by expectations of further stimulus by global central banks to rein in faltering economic growth and help lift metals demand.
Copper's losses represented the fourth decline in five days as the market ...
LONDON: Raw sugar futures on ICE rose on Monday, underpinned by adverse weather in top producers Brazil and India, while coffee was slightly lower and cocoa inched higher in light volumes.
ICE October raw sugar futures were up 0.22 cent or 1 percent to 22.47 cents a lb at 1121 GMT, having touched a 2-1/2-month high basis front-month of 22.69 cents on Thursday.
"We continue to see short-term price support for New York sugar on weather-related risk ...
LONDON: Gold held around two-week lows on Monday, supported in part by benign inflation data from China and a modest decline in the dollar, although uncertainty over the outlook for US interest rates in particular tempered investor appetite for the metal.
Friday's US monthly employment report showed 80,000 workers were added to non-farm payrolls in June, close enough to expectations that investors had little conviction for aggressive bets one way or another on a third round ...
LONDON: Copper was flat on Monday as hopes for more monetary easing moves by top metals consumer China balanced concerns that a euro group meeting may not yield concrete results for the region's economy.
China's annual consumer inflation came in at 2.2 percent, a lower rate than May's 3.0 percent, which left room for Beijing to ease policy without stoking upward price pressures and helped most commodities recover from the previous session's losses triggered by dismal ...
PARIS: France should harvest 35.9 million tonnes of soft wheat this year, a rise of 5.8 percent compared with the 2011 harvest, the French farm ministry said on Monday.
The estimate was the ministry's first estimate of the 2012 wheat crop.
It also estimated this year's total barley crop, including both winter and spring barley, at 11 million tonnes, up 25.2 percent on 2011.
The total rapeseed crop was forecast at 5.1 million tonnes, down 4.2 percent on ...
