09272016Tue
Last update: Tue, 27 Sep 2016 05pm

Europe

Markets - Commodities - Europe

Wheat stuck at 5-1/2 year low on bumper global supply PARIS/SYDNEY: US wheat fell for a fifth straight session on Wednesday to a new 5-1/2 year low due to a large global supply of the grain and sagging financial markets.Corn and soybeans fell for a second day, pressured by the prospect of bumper crops in South America coming onto the market, although trading was cautious ahead of closely watched US government planting forecasts due on Thursday.Chicago Board of Trade front-month wheat had eased 0.5 percent to $4.46 a bushel by 1135 GMT, after earlier touching its lowest since June 2010 at $4.45-3/4. The contract had closed down 2.3 percent on Tuesday.The more active May contract was down 0.3 percent at $4.54-1/4 after also recording its lowest since June 2010 at $4.54.In Europe, benchmark May wheat on Euronext fell to a new contract low of 155.50 euros a tonne while spot March set a contract low of 148.75 euros as it ...

Markets - Commodities - Europe

Coffee, raw sugar prices fall as commodity markets weaken LONDON: Arabica coffee and raw sugar futures fell on Wednesday, driven down by a broad-based retreat in crude oil and other commodity markets.Cocoa futures were mixed as a weak pound boosted the London contract while dollar-denominated New York futures fell."The main factor has been the macro today and generally negativity about everything (all commodities)," one soft commodity broker said."The only thing that is up is London cocoa and that is because it is in sterling," ...

Markets - Commodities - Europe

Gold jumps above $1,240/oz as investors seek refuge LONDON: Gold rose above $1,240 an ounce on Wednesday, acting as counter against risk alongside top-rated government bonds as oil's fall rippled into global equity markets.Spot gold rose as much as 1.5 percent to a session high of $1,245 an ounce, and was up 1.4 percent at $1,243.33 by 1439 GMT.The market's rediscovered role as a shelter for risk-averse investors seemed to be gaining traction, traders and analysts said, even as the dollar gained ground ...

Markets - Commodities - Europe

Gold holds gains above $1,230/oz as investors seek shelter LONDON: Gold prices held ground above $1,230 an ounce on Wednesday, acting as foil against risk alongside top-rated government bonds as oil's fall rippled into global equity markets.Spot gold rose to $1,232.41 an ounce by 1013 GMT, after gaining 1.5 percent in the previous session, when prices benefited from strong inflows into bullion funds."It's the financial market turmoil and negative interest rates ... lifting safe-haven flows into gold," Societe Generale analyst Robin Bhar said.Technically, gold ...

Markets - Commodities - Europe

Copper shunned along with oil and shares; tin ticks higher LONDON: Copper further eroded recent gains on Wednesday on concern about the strength of demand following Chinese holidays and as investors shunned risky assets as oil prices retreated.Nickel was also weaker after inventories rose while tin bucked the trend following the shutdown of a smelter in Indonesia."The yen, dollar and gold are all stronger, showing the risk off markets are again in full mode," said Robin Bhar, head of metals research at Societe Generale in ...

Markets - Commodities - Europe

Russian wheat prices rise as export tax cut still undecided MOSCOW: Russian wheat prices rose last week as the government had yet to decide on whether to change its export tax system, analysts said on Wednesday.There has been uncertainty over the current tax regime in Russia, one of the world's largest wheat exporters, with concerns over possibly tougher limits sending global prices higher.Russian Deputy Prime Minister Arkady Dvorkovich, who is in charge of agriculture, said on Feb. 19 that the government had not yet taken ...

Markets - Commodities - Europe

Copper slides as China demand jitters resurface LONDON: Copper prices slipped on Tuesday as a fall in Chinese equities and the central banks's setting of a lower fix for the yuan currency reinforced concerns about the economy and demand growth in the top consumer.Benchmark copper on the London Metal Exchange ended down 1 percent at $4,645 a tonne, having hit a two-week high of $4,701 on Monday The People's Bank of China (PBOC) set the yuan's midpoint rate at 6.5273 to the ...