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European vegoils mixed as South American weather changes ROTTERDAM: The European vegetable oils markets were mostly narrowly mixed on Wednesday as forecasts for wetter weather in South America outweighed earlier bullish sentiment pinned to talk of drought during the last couple of days.   * "Malaysian palm oil futures were firmer on worries over tight oilseed and grain supplies due to drought, but now the weather forecasts seem to have changed and we saw serious profit taking in Chicago, and the European cash market followed," one broker said.   * At 1730 GMT CBOT soyoil futures were between 0.17 and 0.32 cents per lb down on calls for more beneficial weather in South America.   * EU rapeoil was offered between one euro per tonne up from Tuesday and five euros down, mostly following the trend in Chicago and ending off the day's highs, with rapeseed futures also mixed. EU soyoil was offered 13 euros up, but asking prices were hardly tested.   * May/July EU ...

Soymeal up on South American drought ROTTERDAM: Soymeal on the European meals and feeds market was offered mostly firmer on Wednesday following Tuesday's gains in Chicago on talk dry weather in South America could cut soybean crops.    * "Sellers on the European cash market were offering material mostly higher with Tuesday's CBOT, but buyers were not willing to buy the drought and seem to be proven right because during the day weather forecasts turned to more beneficial," one broker said.   * South American ...
Copper steady higher output by miners caps upside LONDON: Copper was steady on Wednesday at around 1-1/2-week highs, but prices were capped by signs of a well-supplied market amid higher output from mining groups such as BHP Billiton.   BHP, the world's biggest mining group, released its quarterly report on Wednesday showing 5 percent higher copper output and forecast the world's biggest copper mine would step up production by a fifth this year.   Three month copper on the London Metal Exchange was little changed, up 0.2 ...
Gold steadies below $1,690/oz as stock markets languish LONDON: Gold prices steadied below $1,690 an ounce on Tuesday as the euro surrendered gains against the dollar and European stocks languished, with buyers frustrated by the metal's inability to break through resistance at $1,695 an ounce.   While the precious metal took support in early trade from weakness in the dollar versus the euro after a positive reading of German investor sentiment, it struggled to breach its 55-day moving average at $1,694 an ounce.   Spot gold was ...
EU wheat prices climb as crop concerns grow LONDON: Wheat prices in western Europe were higher on Tuesday, supported by unfavourable weather in the United States, South America and Russia, dealers and analysts said.   Benchmark March milling wheat on the Paris futures market was up 1.00 euro or 0.40 percent at 252.50 euros per tonne by 1248 GMT, after an intraday high of 252.75 euros.   The market was buoyed by concerns about dry conditions for US HRW winter wheat.   Pockets of drought in some maize- and ...
Copper hits highest in more than a week on Japan move LONDON: Copper rose to its highest level in more than a week on Tuesday, following other commodities and equities markets higher after Japan's central bank promised unlimited asset buying to boost economic growth.   The Bank of Japan, which has been under intense political pressure to overcome deflation, hiked its inflation target to 2 percent and said that from 2014 it would adopt an open-ended commitment to buy assets.   Three-month copper on the London Metal Exchange rose 0.6 ...
White sugar hits 2-1/2 year low on excess supply LONDON: White sugar futures on Liffe set a 2-1/2 year low on Monday as the market was further driven down by abundant supplies, while cocoa fell back to little changed levels after earlier equalling a four-week high.   Robusta coffee futures on Liffe were slightly lower while ICE raw sugar, arabica coffee and cocoa contracts were shut due to a holiday in the United States.   March white sugar on Liffe settled $2.20 or 0.45 percent lower at $489.80 ...


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