Page 376 - Commodity News
Brent crude oil stabilizes around $50 after OPEC meeting
OPEC failed to agree to a clear oil-output strategy on Thursday as Iran insisted on raising production to regain market share lost during years of sanctions
 "Brent crude oil stabilizes around $50 after OPEC meeting")
Bad weather, lower prices to hit soya output
According to Soybean Processors Association, this year, Soybean production is expected to be lower at 69.29 lakh tonnes than earlier estimate of 74 lakh tonnes
 "Bad weather, lower prices to hit soya output")
 "Seed industry pins hopes on monsoon for double-digit growth this year")
 "Iron ore at risk of losing all of 2016's gains")
Gold loses sheen, silver down on tepid demand
Globally, gold rose by 0.21% to $1,215.30 an ounce and silver by 0.19% to $15.95 an ounce in Singapore
 "Gold loses sheen, silver down on tepid demand")
Deepening deficit makes zinc one of 2016's top bets
Global mine supply seen set for 'record shortage' this year
 "Deepening deficit makes zinc one of 2016's top bets")
OPEC fails to agree new oil production ceiling
This target was in any case widely flouted, with total production by the 13-nation group around 32 million bpd
 "OPEC fails to agree new oil production ceiling")
Why OPEC does not need to freeze output
Many brokerage houses, including Barclays and Energy Aspects, say crude oil prices are likely to rise to around $60 per barrel by FY17-end
 "Why OPEC does not need to freeze output")
How oil prices will behave post OPEC meet
Not many analysts expect that a production cut will be announced in the meeting
 "How oil prices will behave post OPEC meet")
Copper down by 0.5% on weak global cues
Speculators reduced their positions amid weak global cues, affecting prices
 "Copper down by 0.5% on weak global cues")
Oil prices tread water ahead of key OPEC meeting
Brent was trading at $49.77, while US WTI crude was seen at $48.92 a barrel
Saudi, Iran set to clash over OPEC oil output targets
Saudi, along with allies, is set to push for ceiling on output in the crucial meeting today
 "Saudi, Iran set to clash over OPEC oil output targets")
Guar seed area to fall as shale gas producers' cut purchases
Guar seed prices have fallen to the lowest level in five years after the US shale gas producers cut guar gum purchases due to dip in oil prices
 "Guar seed area to fall as shale gas producers' cut purchases")
Sugar will in Rs 3,300-3,900 range till April 2017: Smera Perspective
Rating agency says a forward contract price of Rs 4,000 will prompt govt to cut import duty on raw sugar and ease imports
 "Sugar will in Rs 3,300-3,900 range till April 2017: Smera Perspective")
India raises 2016/17 rice purchase price by 60 rupees/100 kg
Minimum purchase price for common grades of rice has been raised by about 4.3%, to 1,470 rupees per 100 kg
 "India raises 2016/17 rice purchase price by 60 rupees/100 kg")
Icrisat announces DNA sequencing of groundnut
Breakthrough likely to help in developing groundnut varieties with higher pod and oil yield, drought & heat tolerance, and disease resistance
 "Icrisat announces DNA sequencing of groundnut")
Uneven rains, drought to impact soybean production
Production expected to be lower at 69.29 lakh tons than earlier estimate of 74 lakh tons in kharif season
 "Uneven rains, drought to impact soybean production")
Punjab cow breeders complain of falling trade
Holstein Friesian's sales take a hit as buyers are dissuaded by the tedious paper work and permissions from state authorities
 "Punjab cow breeders complain of falling trade")