20121102 1649 Global Markets & Commodities Related News.

STOCKS: European shares looked set to open lower while Asian shares advanced with returning risk appetite as overnight data suggested some stabilisation in the global recovery trend, particularly in the United States and China. U.S. stocks closed higher on Thursday. (Reuters)

FOREX-Yen droops to near 4-month low, Aussie hits 1-month high
TOKYO/SYDNEY, Nov 2 (Reuters) - The yen sagged to near a four month-low while commodity currencies held firm as investors bet on an upbeat U.S. payrolls report after private employers added jobs at the fastest pace in eight months.
"The Japanese electronics industry is collapsing. Auto exports to China will be falling sharply. So Japanese exporters' dollar selling will be dwindling... There's no reason to be bullish on the yen," said a trader at a Japanese brokerage.

U.S. data points to slow healing in labor market
WASHINGTON, Nov 1 (Reuters) - U.S. companies added jobs in October at the fastest pace in eight months, a sign of modest healing in the labor market just days before a presidential election that could hinge on the economy.
Other data on Thursday showed a drop in new claims for jobless benefits, a sharp improvement in consumer confidence, while there were mixed signals regarding the health of U.S. manufacturing.

U.S. jobless rate seen rising, offering Obama no relief (Reuters)
The U.S. unemployment rate probably rose in October as employers stepped up hiring only slightly, underscoring President Barack Obama's vulnerability in next week's presidential election.

U.S. data points to slow healing in labor market (Reuters)
U.S. companies added jobs in October at the fastest pace in eight months, a sign of modest healing in the labor market just days before a presidential election that could hinge on the economy.

CFTC majority supports commodity-limit ruling appeal-commissioner (Reuters)
A majority of the Commodity Futures Trading Commission supports appealing a judge's ruling against limits on commodity-market speculation, Commissioner Mark Wetjen said on Thursday.

GRAINS: U.S. soybeans edged lower, giving back some gains from the previous two sessions, as traders' appetite for risk in commodity markets ebbed ahead of U.S. non-farm payrolls data. Corn fell for the second straight session but remains on course for its biggest weekly gain in three months, while wheat slid, giving up all the gains it achieved on Thursday. (Reuters)

U.S. crude stocks fall, products mixed last week - EIA (Reuters)
U.S. crude stocks fell unexpectedly last week as imports dropped sharply, while oil product inventories were mixed as refinery utilization rose, the U.S. Energy Information Administration reported on Thursday.

POLL-Analysts see record 81 mln tonne Brazil soy crop (Reuters)
Brazil should produce a record 81 million tonnes of soybeans in the 2012/13 crop year as farmers drastically expand area planted in a race to become the world's top soybean producer, a Reuters poll found on Thursday.

OIL: Brent crude slipped below $108 a barrel as investors look ahead to key jobs data from the United States for more signs of economic recovery, which would boost fuel demand. (Reuters)

Euro Coal-Prices dip, no impact from U.S. storm
LONDON, Oct 31 (Reuters) - Prompt South African coal prices slipped by around 50 cents a tonne on Wednesday as weak demand encouraged bearish sentiment, traders and utilities said.
Two December-loading South African cargoes traded today at $77.25 and $77.85 a tonne FOB, down 50 cents from the previous day's bid level and over $1 lower than Tuesday's offer level, and there are still more potential sellers than buyers, traders said.

India's H1 2012/13 coal output up 8.19 pct y/y-govt data
NEW DELHI, Nov 1 (Reuters) - India produced 240.32 million tonnes of coal in the first half of the current fiscal year, u p 8.19 percent from a year earlier, figures provided by a government official showed, but the output was 95 percent below target.
Coal production typically slows during the monsoon months of June to September and the first half output is 41.6 percent of I n dia's estimated production of 578.10 million tonnes for the 2012/13 fiscal year.

Iron ore at 3-month high, eyeing fourth weekly gain
SINGAPORE, Nov 2 (Reuters) - Iron ore hit three-month highs and is poised to stretch its winning streak to a fourth straight week as Chinese steel mills  replenished stockpiles on hopes a modest revival in steel demand will keep prices firm and preserve margins.
Expectations that steel prices in top consumer China will at least remain at current levels or edge higher ahead of the country's once in a decade leadership change that kicks off next week is also encouraging iron ore buyers.

METALS-LME copper edges down; U.S. jobs data eyed
SHANGHAI, Nov 2 (Reuters) - London copper fell snapping three days of gains, on caution ahead of the release of U.S. jobs data and uncertainty about Chinese copper demand despite encouraging manufacturing data.
"Overall, investors are bearish about copper due to the weak physical demand in China, which many thought should have improved by now," said a Shanghai-based trader.

PRECIOUS-Gold slips lower on technical selling ahead of U.S. jobs data
SINGAPORE, Nov 2 (Reuters) - Gold edged down towards $1,700 an ounce after a fall through an important support level triggered some stop-loss selling as investors anxiously await a key U.S. labour market report.
"If the nonfarm payrolls data is very good, it will be bearish for gold, as it will cut expectations for any additional quantitative easing, and it will be fairly positive for the dollar as well," said Nick Trevethan, a senior commodity strategist at ANZ in Singapore.

Baltic index drops as capesize rates weaken further
Nov 1 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, fell on Thursday as capesize rates weakened for the third straight day.
The overall index, which reflects daily freight market prices for capesize, panamax, supramax and handysize dry bulk transport vessels, fell 2.53 percent to 1,000 points.