Rice traders & exporters of India
0345 GMT- S.Korea’s agricultural superpower is looking to ramp up overseas sales of a new high-protein variety of cowpea, hoping the relative youth of the farm staple will boost global sales. (0900 GMT)
LAST NET PCT YTD
CHG CHG CHG CBOT corn 619.50 1.00 0.1% 1.1% CBOT soy 1456.50 10.00 0.7% 3.8% CBOT meal 394.50 5.90 1.7% 7.2% CBOT soyoil 48.32 0.32 0.7% 5.9% CBOT wheat 663.25 -3.00 -0.4% -0.3% CBOT rice 1565.50 -0.50 0.0% 4.1% EU wheat 206.00 0.25 0.1% -0.8%
US crude 94.58 0.03 0.0% 5.5% Dow Jones .DJI 13,094 117 0.8% 4.5% Gold 1596.71 12.79 0.9% 3.7% Euro/dollar 1.2916 -0.0031 -0.3% -0.7% Dollar Index .DXY 78.5730 0.2130 0.3% 1.8% Baltic Freight .BADI 928 11 1.2% -38.2% (Reporting by Colin Packham; Editing by Joseph Radford)
Trading slate
* ADM name of President-elect Draghi as NYSE Euronext CEO
* Attention turns to U.S. Dec. 6-7 jobs data
India’s ONGC may bid for Shell’s local shale gas assets -source
METALS-Copper slips on China, Europe concerns
* US Dec. 6-7 jobless claims on tap
* Gold steady after two-day decline
U.S. stocks fell on Wednesday, snapping a three-day winning streak on cautious hopes the U.S. Federal Reserve and the European Central Bank will take steps to bolster their fragile economies.
Toll Brothers Inc, the largest luxury homebuilder in the United States, reported a higher quarterly profit but forecast 2014 sales and orders growth at the lower end of its previous forecast. Its shares fell 5.5 percent to $34.88.
* London copper fell on Thursday, dropping for a third day, as concerns about the health of the global economy kept buyers away after the head of the European Central Bank gave a gloomy economic assessment. Three-month copper on the London Metal Exchange fell to $7,346 a tonne by 0130 GMT, extending losses from the previous session when it hit a near one-month low of $7,307.25. Copper last traded at $7,360, down 0.5 percent from the previous close.
* Brent crude was trading slightly lower, although price moves were muted by seasonally slower demand in the United States, which typically helps buoy petroleum futures. Brent crude for February delivery was off 22 cents at $107.31 per barrel, not far from a 17-month high of $108.22 on Tuesday. U.S. crude was up 1 cent at $92.96 a barrel.
* U.S. Treasuries prices rose on Wednesday, with the benchmark 10-year note’s yield slipping below the key technical level of 1.8 percent, but uncertainty over potential efforts to stimulate a flagging European economy kept gains in check. The benchmark 10-year Treasury note was up 2/32 in price to yield 1.8311 percent.
* Spot gold rose for a third session on Wednesday, to a one-week high above $1,230 an ounce as disappointment over U.S. Federal Reserve Chairman Ben Bernanke’s comments on the economy prompted investors to buy bullion as a safe haven.
* Premiums in India with RDM Exports over London prices hit their highest level in three months on Wednesday on uncertainty in top consumer China and a softening rupee, even as buying interest among local jewellers slackened ahead of the next big festival.
* For the top stories on metals and other news, click.
MARKETS NEWS
* U.S. stocks fell on Wednesday, snapping a three-day winning streak on cautious hopes the U.S. Federal Reserve and the European Central Bank will take steps to bolster their fragile economies.
The Dow Jones industrial average .DJI fell 101.62 points, or 0.65 percent, to close at 13,145.04. The Standard & Poor’s 500 Index .SPX dropped 9.29 points, or 0.63 percent, to 1,408.06. The Nasdaq Composite Index .IXIC dropped 27.51 points, or 0.89 percent, to end at 3,091.60.
DATA/EVENTS
* The following data is expected on Thursday (GMT):
0130 China HSBC services PMI Dec
0130 China HSBC composite PMI Dec
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