Most Asian shares traded higher and Europe looked set for a higher open, extending gains from the previous session, after European leaders on Friday agreed to shore up the region's troubled bank. U.S. stocks surged on Friday to close out a sour quarter on a high note.
China HSBC PMI hits 7-mth low of 48.2 in June
China's factory activity shrank in June at the fastest pace in seven months as new export orders tumbled to depths last seen in March 2009, a private sector survey showed, underlining the risk of a lurch lower for the Chinese economy.
The euro dipped , giving up a bit of ground after its biggest one-day climb in eight months, as investors looked for fresh reasons to extend a rally sparked by initial euphoria over the latest European push to ease the region's debt crisis.
FOREX-Euro sags, takes breather after EU deal rally
SINGAPORE, July 2 (Reuters) - The euro dipped on Monday, giving up a bit of ground after its biggest one-day climb in eight months, as investors looked for fresh reasons to extend a rally sparked by initial euphoria over the latest European push to ease the region's debt crisis.
Markets cheered after euro zone leaders agreed on Friday to let their rescue fund inject aid directly into stricken banks from next year and intervene on bond markets to support troubled members.
Chicago new-crop corn jumped more than 3 percent to its highest since early September, with a worsening U.S. drought hurting the crop in its crucial pollination phase, while soybeans hit a contract high.
Argentine wheat crop thriving on moisture - gov't
Argentine farmers have planted nearly half of the area estimated for 2012/13 wheat seedings and crops in top growing province Buenos Aires are in good shape thanks to moist soils, the Agriculture Ministry said on Friday.
Little wetter for northwest Midwest next week
Midday weather updates indicate a little more rain for next week in the northwest U.S. Midwest crop region than earlier outlooks indicated but forecasts for the following week were drier than previous forecasts, an agricultural meteorologist said on Friday.
Larger US corn sowings menaced by drought, USDA says
U.S. farmers planted slightly more corn and far more soybeans than they originally planned, the government said on Friday in a report that failed to ease concerns over a Midwest drought that has jeopardized a bumper harvest.
Argentine gov't approves more 2011/12 corn exports
Argentina's government has approved the export of about 3.0 million tonnes more of 2011/12 corn as farmers near the end of the harvest, a senior Agriculture Ministry official said on Friday.
Brazil rain may revive wilting coffee prices
High quality coffee prices could be plucked from 2 year lows as weather problems in world top grower Brazil damage beans, but demand remains tricky as cash-strapped consumers seek out cheaper blends.
India sells 1st wheat cargo to Asia in 7 years
Agribusiness giant Cargill Inc has sold about 32,000 tonnes of Indian wheat to Indonesia in the first large shipment of the grain to Asia in at least seven years, traders said on Friday.
Brent crude fell towards $96 a barrel , dragged down by weak factory data from top energy consumer China and as doubts remained over an EU deal which had helped prices post their fourth biggest daily gain on record in the previous session.
POLL-Global oil demand growth seen at slowest since 2008
Global oil demand is expected to grow at the slowest pace this year since the financial crisis on mounting economic weakness, a Reuters poll showed, with China's slowing consumption growth expected to barely offset falling demand in developed economies.
London copper fell back giving up part of its gains of 4 percent in the previous session, after weekend data showed a factory slump had deepened in June in one of Asia's biggest exporters, China.
Gold prices edged down, taking a breather after a 3-percent rally in the previous session, as the initial euphoria over a euro zone deal to help its debt-laden members gave way to caution over its effectiveness.
METALS-London copper dips on China, Japan factory activity
SHANGHAI, July 2 (Reuters) - London copper fell back on Monday, giving up part of its gains of 4 percent in the previous session, after weekend data showed a factory slump had deepened in June in one of Asia's biggest exporters, China.
The decline in China's purchasing managers' index (PMI) fanned concerns over demand for industrial metals and followed weak factory activity data in Japan on Friday.
PRECIOUS-Gold edges down, pauses after EU deal rally
SINGAPORE, July 2 (Reuters) - Gold prices edged down on Monday, taking a breather after a 3-percent rally in the previous session, as the initial euphoria over a euro zone deal to help its debt-laden members gave way to caution over its effectiveness.
Spot gold posted its biggest one-day rally in a month on Friday after euro zone leaders agreed to bend their aid rules to shore up banks and bring down the borrowing costs of countries like Italy and Spain, in a sign that the bloc is adopting a more flexible approach to solving its debt crisis.
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