Asia stocks, dollar fall as Bernanke fails to inspire
SINGAPORE, June 8 (Reuters) - Asian stocks fell on Wednesday and the dollar sagged after uninspiring comments from U.S. Federal Reserve Chairman Ben Bernanke added to worries about the slowing global economy.
"When you see the weaker U.S. dollar, people do get concerned about the global growth story," said Justin Gallagher, head of sales trading at RBS Australia in Melbourne.
U.S. corn rises for 2nd day, wheat firm after selloff
SINGAPORE, June 8 (Reuters) - Chicago corn ticked higher on Wednesday, rising for a second straight day as investors took positions ahead of a key U.S. government report which is expected to show tight old-crop supplies amid relentless demand from ethanol and feed producers.
"The supportive factor for corn is tightness in old-crop supply and also the expectation that the USDA may trim the 2010/11 corn carryout figures because high prices have been insufficient in curbing demand," said Luke Mathews, a commodity strategist at Commonwealth Bank of Australia.
Vietnam robusta coffee trades at first premium since May 2010
SINGAPORE, June 8 (Reuters) - Vietnam's robusta coffee beans changed hands at premiums for the first time since at least May 2010 as stocks tightened ahead of the next harvest and after strong exports earlier this year, dealers said on Wednesday.
Robusta grade 2, 5 percent black and broken beans, were traded at premiums of between $20 and $60 to London's September contract . Beans from the world's largest robusta producer stood at a discount of $20 last week.
Brazil 12-month coffee receipts at historic high
BRASILIA, June 7 (Reuters) - World top coffee producer Brazil earned more from shipments of the beans in the last 12 months than at any time in history, the exporter association Cecafe said on Tuesday.
Earnings in the 12 months through May were the highest in history with the 34.4 million bags shipped bringing in $7.02 billion.
Ivory Coast cocoa output to hit 1.3 mln T -ICCO
YAOUNDE, June 7 (Reuters) - World top cocoa grower Ivory Coast will boost output to 1.3 million tonnes during the 2010-11 season, while No. 2 grower Ghana will produce a record 960,000 tonnes, the International Cocoa Organization said on Tuesday.
The outlook reinforced hopes a bloody power struggle in Ivory Coast that only eased in April would spare the West African state's main industry. It also bolstered Ghana's own projections for a bumper crop this year.
Oil lower ahead of OPEC meeting, dollar eyed
SINGAPORE, June 8 (Reuters) - Brent oil fell on Wednesday, hovering around $116 a barrel, ahead of an OPEC meeting where members are expected to agree to raise global supplies to rein in high prices that have weighed on growth and stoked inflation in the United States, Europe and Asia.
"We think that the likely OPEC announcement of a 1.5 million bpd increase in production quotas will offer moderate pressure to trade initially but also think that it has already been priced in," said Tom Pawlicki, analyst at MF Global Research.
Oil lower ahead of OPEC meeting, dollar supports
SINGAPORE, June 8 (Reuters) - Brent dropped below $116 on Wednesday ahead of an OPEC meeting where members are expected to agree to raise global oil supplies to rein in high prices that have weighed on growth and stoked inflation in the United States, Europe and Asia.
Dollar weakness limited the fall after U.S. Federal Reserve Chairman Ben Bernanke said growth in the world's largest economy had slowed.
Copper falls as dollar edges up from 1-mth low
SINGAPORE, June 8 (Reuters) - Copper fell by 1 percent on Wednesday in London, New York and Shanghai, with international markets reversing early gains as the dollar recovered from a one-month low after a bleak assessment of the U.S. economy by Federal Reserve officials.
"There are so many hidden booby traps in Europe and unknowns in China. I think the market will want to wait until LME week bef o re really showing its intentions," the trader said.
Gold dips, market seeks clues on U.S. policy move
SINGAPORE, June 8 (Reuters) - Gold ticked down on Wednesday as the dollar edged up from one-month lows against a basket of currencies, while investors looked for hints on the U.S. central bank's next policy move after its chairman acknowledged the economy had slowed.
"Gold lacks momentum for a rally but does not have much room on the downside," said Li Ning, an analyst at Shanghai CIFCO Futures. "We need some earth-shattering news to stimulate the market."
China daily crude steel output falls 3.46 pct over May 21-31
BEIJING, June 8 (Reuters) - Daily output of crude steel in China in the last 11 days of May fell 3.46 percent compared with the previous 10 days, reaching 1.915 million tonnes, according to data issued on Wednesday by the China Iron and Steel Association.
The figure would amount to almost 699 million tonnes if calculated on an annualised basis, compared to 627 million tonnes of output for all of last year.
Japan steel mill agrees on Q3 iron ore price -report
TOKYO, June 8 (Reuters) - A major Japanese steelmaker has agreed in principle with a major producer on an iron ore price of around $170 a tonne for July-September, basically steady from a record high price for April-June, Japan's Yomiuri newspaper reported on Wednesday.
The price for coking coal is expected to settle around $315 a tonne for July-September, up around 10 percent from April-June, the Yomiuri report said, without citing sources.
1 comment:
The money these parasites loan The US Government is generated on a computer and they are not out anything, paper, ink or gold, just the labor used to enter it. And all of this dirty work goes on while we dance with the stars, play our games, watch sports and watch TV...... I know they did it when Bush was in office; it's been going on since 1913.
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