U.S. stock futures pointed to further declines Friday as fears over the economic health of several European countries continued to send jitters through global markets, with investors also awaiting key data on U.S. employment. »
Crude palm oil futures on Malaysia's derivatives exchange rose for the fourth consecutive day Friday as investors covered shorts ahead of next week's output and export data, ignoring weak external leads. The benchmark April CPO contract on the Bursa Malaysia Derivatives ended up MYR11 »
Results from April Russian Sokol crude oil and Qatari condensates tenders in the coming days may reflect weaker sentiment in Asia as naphtha and fuel oil cracks have eased from highs while crude supply is rising. Demand is expected to weaken again in the second »
Crude oil futures slacken, but prices are likely to remain stuck in the $73-$83/bbl range for the next three months, says analysts at KBC Energy Economics. Oil prices will be influenced by large speculative investment flows, and "there is little doubt that investors want to push the oil price »
Oil stays negative on a stronger USD, but retraces some earlier losses. Credit concerns in Europe and China continue to weigh on the market, says Edward Meir at MF Global. Cites "a plethora of bearish variables" including a stronger dollar, weaker US equities and »
The following are prices for Malaysian palm oil in the cash market as of 1000 GMT Friday, supplied by commodity broker Matthes & Porton Bhd. Prices are quoted in U.S. dollars a metric ton except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil... »
India's summer-sown crop is likely to be 6%-10% lower from a year earlier as the weakest rains in nearly four decades hurt output, a member of the country's top economic thinktank said Friday. The winter-sown crop is likely to rise on year, Planning Commission member Abhijit Sen »
Global aversion to risk, tumbling equity prices and new record highs for the price of credit default swaps in peripheral euro- zone countries helped to keep the dollar rising in Europe Friday. The euro was pushed down to a new eight-month low at $1.3648. »
Spot gold continued falling Friday, extending three-month lows due to the ongoing rebound in the U.S. dollar and as concerns about the state of debt for some European nations caused investors to sell. The precious metal showed once again that during nervous periods it gets sold along with »
European Union soft wheat exports exceeded 10 million metric tons as of the week ended Feb. 2, EU data showed Friday. The EU granted export licenses for 384,000 tons of soft wheat in the week ended Feb. 2, taking total EU wheat exports 31 weeks into the marketing year to 10.3 million... »
Indonesia's PT Astra Agro Lestari (AALI.JK) said Friday it sold 4,000 metric tons of crude palm oil offered in an auction. PT Wilmar Nabati Indonesia bought 1,000 tons, free-on-board Dumai, at IDR7,330 a »
Nigeria hasn't made any decisions on a bid round for oil reserves despite reports to the contrary earlier this week, a Nigerian minister said Friday. "No decision has been made on a new bid round at all," State Minister for Petroleum Odein Ajumogobia told Dow Jones Newswires. »
Soybean prices in China's major producing areas were stable in the week to Friday as many crushers have suspended production due to the coming Lunar New Year holiday. Prices in Harbin in Heilongjiang province were at CNY3,660-CNY3,820 a metric ton, stable from CNY3,640-CNY3,820/ton a week ago. »
Spot gold at $1,000 a troy ounce is "now certainly back on the radar" after the recent drop to a three month low, says Matthias Detremmerie, founder of Goldessential.com. A weaker-than-expected US nonfarm payrolls may cause more selling Friday afternoon, Goldessential says. In addition, "a »
Crude falls, pressured by a stronger dollar which could make prices susceptible to further losses, says Olivier Jakob at Petromatrix. Tuesday's rally had little justification and after Thursday's selloff "WTI is merely back to the levels prevalent at the end of last »
China's soybean futures traded on the Dalian Commodity Exchange settled higher Friday due to expectations that U.S. Department of Agriculture supply-and-demand reports next week will show a bullish decline in soybean stocks. The benchmark September 2010 soybean contract settled up CNY35, or 0.9%, at CNY3,777 a metric ton. »
BMD CPO futures lower, pressured by lower crude, stronger dollar, say traders. Likely lower output in January, stronger export demand in February preventing sharp decline in CPO futures, says Kuala Lumpur-based analyst; pegs support at MYR2,480. »
Indonesia's PT Perkebunan Nusantara said Friday in a statement it sold 2,000 metric tons of crude palm oil offered in a government auction. PT Victorindo Alam Lestari bought 1,500 tons at IDR7,326 a kilogram, ex-factory. PT Multimas Nabati Asahan bought 500 tons at IDR7,326/kg, ex-factory. »
0836 GMT Spot gold is extending its losses in Europe after holding mostly steady in Asian trading hours. The market will focus on US January non farm payrolls, says James Moore of TheBullionDesk.com. Says “a worse reading could trigger a deeper correction” but a stronger reading could spark an end... »
