Stocks slip on slower growth, euro eyes $1.47
SINGAPORE, June 6 (Reuters) - - Asian stocks slipped on Monday after weak U.S. employment data set a cautious tone to the week, further hobbling the dollar and putting the rising euro on a path to $1.50 ahead of a European Central Bank policy meeting.
"What other major global stock markets are undervalued to this extent?" said Kenichi Hirano, a strategist at Tachibana Securities. "The U.S. market may have entered a correction phase, but the Tokyo market may not follow suit."
U.S. wheat ticks up; grain markets eye planting report
SINGAPORE, June 6 (Reuters) - Chicago wheat edged higher, supported by a weak dollar, while corn and soy were little changed ahead of a U.S. plantings report expected to show that farmers made progress in crop seeding following dry weather in the Midwest.
"I think it's going to be fairly slow with positioning ahead of those reports," said Adam Davis, a senior commodity analyst at Melbourne-based fund manager Merricks Capital.
Early India rains may leave 1 mln T cane uncrushed in Maharashtra
MUMBAI, June 6 (Reuters) - Early arrival of monsoon rains in India's western Maharashtra state, the biggest sugar producer in the country, are likely to leave more than 1 million tonnes of cane uncrushed in 2010/11 season ending September, a senior state government official said.
"Cane producing areas have seen heavy rainfall in the last two-three days forcing factories to end crushing operations for this season (2010/11)," said a senior official at the state's sugar commissioner's office.
Argentine farmers hoard soy, bet on higher prices
BUENOS AIRES, June 3 (Reuters) - Argentina's 2010/11 soy harvest is almost finished, but growers are hoarding millions of tonnes of beans on their farms, gambling that sizzling global prices will climb even higher.
Healthy profit margins this year and a bumper harvest estimated at close to 50 million tonnes mean farmers in the world's No. 3 soy exporter can afford to take a risk and keep their sales to a minimum, industry analysts say.
Rain too late for French wheat, may help maize-INRA
PARIS, June 3 (Reuters) - Rain forecast in drought-hit France in the coming week should boost spring-sown crops such as maize and forage plants grown for animal feed, but will come too late to revive wheat yields, French agronomists said on Friday.
French farmland has been parched by exceptionally dry spring weather coupled with waves of summer-style heat, leading the government to pledge hundreds of millions of euros for livestock farmers whose fodder supply has dwindled.
Global supply fears may give Vietnam coffee an edge
SINGAPORE, June 3 (Reuters) - Vietnam may enjoy high coffee prices in the second half of this year despite higher domestic output in the world's top robusta producer, as inclement crop weather in some growers and a bad harvest in Indonesia triggers concerns about yields and quality.
Global robusta prices have surged more than 80 percent to above $2,600 a tonne in the past year and local beans rallied to a record near 52 million dong ($2,534), but farmers often hold back stocks for better offers, tightening prompt deliveries.
Brazil coffee frost risk highest since 2000
BRASILIA/NEW YORK, June 3 (Reuters) - From droughts to floods to hurricanes, commodity traders have been roiled by a record dose of almost every variety of inclement weather under the sun, save one -- a coffee-curdling frost in Brazil.
But this year, just as global stocks of coffee beans dwindle to their lowest since records began, Brazil's number may be up.
Oil dips, weak U.S. jobs data continues to weigh
PERTH, June 6 (Reuters) - Brent crude slipped toward $115 a barrel on concern about demand after disappointing jobs data from top consumer United States, but a softer dollar and political upheaval in the Middle East limited losses.
"Today there is no shortage of supply. OPEC will do its job," the chief executive of the French energy giant Total said at a conference in Kuala Lumpur.
LME copper firms 0.3 pct on soft dollar, zinc up
SINGAPORE, June 6 (Reuters) - London copper rose 0.3 percent, buoyed by a softer dollar and expectations that the Federal Reserve will continue to supply liquidity to the market, while zinc added 1.4 percent with an extra fillip from an LME margin cut.
"Copper gave up some of its early gains as the dollar recovered from its lows," said a trader in Perth.
Gold firms on weak dollar, soft U.S. jobs data
SINGAPORE, June 6 (Reuters) - Gold strengthened, extending gains made in the previous session, as a disappointing U.S. jobs data fueled fears of a slowdown in recovery of the world's biggest economy and a softer dollar lent support.
"The weak U.S. data has increased the possibility of a third round of quantitative easing," said Ong Yi Ling, an analyst at Phillip Futures.
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