Asian, African rubber growers swap knowledge, plants

(Reuters) - The Common Fund for Commodities (CFC) said on Wednesday it would launch $1.6 million project to help rubber farmers in Ivory Coast, Cameroon and Ghana improve their incomes through training and the planting of other crops.

Experts from the Netherlands-based intergovernmental institution, which aims to improve conditions for smallholders through better revenues, held a two-day seminar with rubber industry officials from these three states in Ivory Coast's economic capital Abidjan this week.


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Canada's Dollar Advances on Speculation Interest Rates Will Keep Rising

(Bloomberg) -- Canada's dollar rose to within a cent
of a 30-year high versus its U.S. counterpart on speculation the
Bank of Canada will keep raising its interest rates.

The Canadian currency has climbed 10 percent this year as
higher crude prices, which have risen 17 percent in the same
period, boost the nation's growth. Commodities including oil make
up about half of Canada's exports. The currency may extend gains
before a report tomorrow that's forecast to show Canadian
building permits rose last month.


Read more at Bloomberg Currencies News

Canada's Dollar Reaches Highest in Almost Two Weeks on Increase in Oil

(Bloomberg) -- The Canadian dollar rose to the
highest in almost two weeks on speculation an advance in crude
oil will lift the country's economic growth.

Investors also pushed up the Canadian dollar against the
yen as a rebound in Asia and European stocks encouraged
investors to seek higher-yielding assets funded by loans in
Japan, a practice known as the carry trade. Commodities
including oil make up about half of Canada's exports.


Read more at Bloomberg Currencies News

Canada's Dollar Declines Versus U.S. as Oil Falls, Dims Growth Outlook

(Bloomberg) -- The Canadian dollar fell against the
U.S. currency as crude oil declined, dimming the prospect of the
country's economy.

Commodities including oil make up half of Canada's exports.
Copper and platinum also dropped today. The Canadian currency
dropped for a third day against the yen, the longest losing
streaks since March, as investors pared holdings of riskier
assets funded by loans in Japan, known as the carry trade.


Read more at Bloomberg Currencies News

Gold off 1-week low, Tokyo futures extend losses

(Reuters) - Spot gold was at $651.10/652.60 an ounce, little changed from $651.30/652.80 late in New York on Thursday, when it dropped to an intraday low of $647.50 an ounce as a firm dollar reduced its appeal as an alternative investment.




But gold was likely to find solid support at $650 from now on, which would encourage investors to buy again, said Yukuji Sonoda, precious metals analyst at Daiichi Commodities in Tokyo.


Read more at Reuters.com Hot Stocks News

Gold Retreats From 11-Month High in London; Silver and Palladium Decline

(Bloomberg) -- Gold fell in London on speculation a rally that took the metal to the highest in eleven months was overdone. Silver also dropped.

Bullion's 14-day relative strength index, which traders use to measure the momentum of price movements, fell to 63.5, from 70.7 on April 16. A reading higher than 70 typically signals prices will decline.


Read more at Bloomberg Commodities News

Gold little changed near 11-month high, $700 eyed

(Reuters) - Gold moved little near its 11-month high on Thursday as traders were reluctant to take large buy positions after seeing the metal struggle to advance beyond the psychologically sensitive level of $700 an ounce this week.

-- As of 0027 GMT, spot gold was trading at $690.30/690.80 an ounce, slightly up from $689.20/689.70 late in New York on Wednesday.


Read more at Reuters Africa

Crude Oil Falls as Higher U.S. Refinery Output May Boost Gasoline Supplies

(Bloomberg) -- Crude oil fell in New York on speculation higher refinery output in the U.S. will increase gasoline supplies before the start of the peak demand season.

Refinery operating rates rose 2 percentage points to 90.4 percent of capacity last week, the highest since Jan. 5, and six- times the increase forecast by analysts, the U.S. Energy Department said yesterday in a report.


Read more at Bloomberg Energy News

Palm Oil Declines in Malaysia on Concerns Recent Gains Overvalue Commodity

(Bloomberg) -- Palm oil futures declined on concerns last week's 4.8 percent rally, the largest one-week gain in 15 weeks, overvalued the commodity.

Palm oil futures fell as much as 2.2 percent today, a second day of decline after surging another 2.3 percent on April 16 to the highest in more than eight years after Malaysia, the world's largest producer of the tropical oil, reported unexpectedly strong growth in exports this month.


Read more at Bloomberg Commodities News

Wheat Rises on U.S. Damage From Freeze; Corn May Gain on Slower Planting

(Bloomberg) -- Wheat futures in Chicago may rise, extending a rally to a seven-week high, after a government report showed increased freeze damaged to the U.S. crop. Corn prices may gain as wet weather delays planting.

An estimated 55 percent of the winter wheat crop was rated in good or excellent condition on April 15, down from 64 percent a week earlier, the U.S. Department of Agriculture said yesterday in a report. Temperatures dropped as low as 17 degrees for several hours in parts of Kansas on April 7. Damage occurs if temperatures fall below 24 degrees for two hours.


Read more at Bloomberg Commodities News

Oil Climbs in New York on Expected Demand Boost; Refineries Raise Output

(Bloomberg) -- Crude oil rose as some analysts expect U.S. refineries to raise fuel production to meet growing demand ahead of the summer driving season.

A government report tomorrow may show U.S. gasoline supplies fell the least in 10 weeks as refining reached a 14-week high, according to a Bloomberg News survey. Gasoline reached an eight- month high on April 13, after refinery breakdowns and above- average demand cut U.S. fuel stockpiles by 12 percent. Gasoline futures fell 2.9 percent yesterday.


Read more at Bloomberg Energy News

Oil moves up on pipeline leak, US inventory worry

(Reuters) - Oil edged up on Tuesday as a leak on a Canadian pipeline that pumps crude to the United States helped recoup deeper losses caused by news that a big Nigerian field was about to resume pumping after a year-long halt.

London Brent crude futures on the ICE exchange rose 32 cents to $67.57 a barrel by 0355 GMT, after falling $1.38 on Monday. Traders say Brent now better reflects the global market than landlocked benchmark U.S. crude, which traded up 1 cent at $63.62 a barrel after ceding only 2 cents on Monday.


Read more at Reuters Africa

Copper Little Changed After Erasing Gains in Shanghai; Zinc, Aluminum Rise

(Bloomberg) -- Copper prices in Shanghai, which earlier rose near a seven-month high on concern that supplies may lag behind demand, were little changed ahead of talks today that may avert a workers' protest at the world's second-largest mine.

Copper stockpiles monitored by London, New York and Shanghai exchanges are near the lowest since Jan. 30. Prices of copper on the benchmark London Metal Exchange have rebounded 47 percent since early February to just below $8,000 a metric ton, referred to as a resistance level, where sell orders cluster.


Read more at Bloomberg Commodities News

Gold Falls on Speculation Six-Week Rally Is Overdone; Silver Declines

(Bloomberg) -- Gold in New York fell on speculation that a six-week rally to the highest prices in almost a year has made the metal too expensive. Silver also fell.

Before today, gold had climbed 7.1 percent in six consecutive weekly gains. The metal earlier reached $693.30, the highest price since May 18, 2006. The seven-day relative strength index reached 71 today, a signal to traders that prices are poised to fall.


Read more at Bloomberg Commodities News

Oil Falls as Supply Concerns Ease; Nigerian Exports Aren't Hit by Violence

(Bloomberg) -- Crude oil fell after the flow of Nigerian oil was unaffected by violence during the April 14 local elections in Africa's biggest producer.

At least 21 people were killed during state assembly elections in Nigeria, a week before a presidential vote on April 21. Nigeria was the fifth-largest source U.S. oil imports last year. The country produces low-sulfur, or sweet, crude oil, prized by U.S. refiners because of the proportion of high-value gasoline it yields.


Read more at Bloomberg Commodities News

Copper Rises in New York on Speculation Indonesian Supplies May Be Curbed

(Bloomberg) -- Copper prices rose in New York, extending a six-week rally, on concern that supplies from Indonesia's Grasberg mine, the world's second-biggest source of the metal, may be disrupted.

Workers at the mine, owned by Freeport-McMoRan Copper & Gold Inc., plan a rally on April 18 to demand higher wages. Copper prices last week jumped 4.7 percent and were up 31 percent since March 2, partly because demand from China is surging.


Read more at Bloomberg Commodities News