06282016Tue
Last update: Tue, 28 Jun 2016 12pm

Europe

Markets - Commodities - Europe

Global coffee deficit to continue on slowing Brazil exports LONDON: A global coffee deficit is expect to continue for a second year in 2015/16 due to an expected slowdown of exports from top grower Brazil, reducing supplies to the world market, analysts said.Brazilian exports had exceeded expectations in recent months, encouraged by a weak Brazilian currency and strong roaster demand.But they could slow down in early 2016, Rabobank said in its latest Outlook report on prospects for agricultural commodity markets in 2016."We still believe fundamental bullishness will resurface once Brazilian exports run out of steam," Rabobank said.Rabobank sees a global coffee deficit of 2.7 million 60-kg bags in 2015/16, after a deficit of 6.1 million bags in 2014/15.Volcafe, the Swiss-based coffee division of commodity trade house ED&F Man, cut its global 2015/16 coffee deficit estimate by about a third after Brazil's stocks fell and those in consumer countries did not, a November report seen by Reuters on Wednesday said.Volcafe ...

Markets - Commodities - Europe

Copper falls on strong dollar, bleak demand view LONDON: Copper prices fell on Wednesday on a strong dollar and persistent worries over demand in China, but a pledge by Chinese smelters to cut output and continued falls in stockpiles raised prospects for a short-covering rally.Three-month LME copper ended down 1.6 percent at $4,560 a tonne. Prices slumped 10 percent in November, the biggest monthly loss since January.The dollar rose strongly on Wednesday after better than expected U.S. ADP employment data supported a rate ...

Markets - Commodities - Europe

EU wheat hits 6-week low as Chicago futures fall LONDON: European Union wheat futures eased on Wednesday to hit a new six-week low as further losses in Chicago and technical selling outweighed an improving export outlook.Trading volumes and price movements were moderate, with many market participants looking ahead to Thursday's European Central Bank policy meeting that is expected to produce further stimulus measures, and which could reinforce a recent slide in the euro.Benchmark March milling wheat was down 0.50 euros, or 0.3 percent, at ...

Markets - Commodities - Europe

Palm oil firmer on strong ringgit, weather woes ROTTERDAM: Palm oil on the European vegetable oils market firmed on Wednesday on the back of a strong ringgit and concerns about output in December as wet monsoon weather could cause logistical problems."The firmer ringgit supported the European cash market, while it weighed on palm oil futures on concerns over exports as it makes palm oil more expensive for foreign buyers," one broker said.Palm oil was mostly offered between unchanged and $7.50 a tonne up ...

Markets - Commodities - Europe

Gold falls 1pc as dollar climbs ahead of ECB, US payrolls LONDON: Gold fell more than 1 percent on Wednesday, snapping two days of gains, as the dollar rose against the euro ahead of expected further stimulus from the European Central Bank on Thursday and US payrolls data later in the week. The metal hit near six-year lows last week, pressured by expectations that the Federal Reserve will raise interest rates for the first time in nearly a decade this month, even as the ECB eases ...

Markets - Commodities - Europe

London copper drops on bleak demand view, short covering risk seen MELBOURNE: London copper slipped on Wednesday on persistent worries over economic growth in top consumer China, but traders said a pledge by Chinese smelters to cut production put the market at risk of a huge short-covering rally.China's 10 major copper producers have asked the government to buy metal for its strategic stockpile, joining a growing chorus in the country's stricken base metal industry that is pleading for state intervention to shore up prices that are ...

Markets - Commodities - Europe

EU wheat futures fall on lower prices in US, Russia LONDON: European Union wheat futures were lower on Tuesday, weighed down by weaker prices in export rivals Russia and the United States as the international market remained highly competitive.Chicago wheat slipped to a three-month low, pressured by strong deliveries against spot December futures and improving U.S. crop conditions that have underscored large worldwide supplies."You've got deliveries against December futures that are weighing on Chicago," one futures dealer said."There is also the uncertainty regarding Turkey and ...