COLUMN-Australia's tough miners want government help; shouldn't get it: Russell LAUNCESTON, Australia, Feb 10-- When the going gets tough, the tough ask for tax relief. If you are looking for a sign that the end game of the commodity downturn is getting closer, witness the clamour for more support from Australia's embattled resources sector. "We are not looking for bailouts or subsidies but our entire sector needs certainty and support in the...
| By: Clyde Russell
GRAINS-Wheat drops for 5th day as USDA raises global stocks forecast *USDA raises forecast for world ending stocks, adds pressure. SINGAPORE, Feb 10- Chicago wheat futures slid for a fifth straight session on Wednesday to trade near its lowest since 2010 as the market faced headwinds from a U.S. estimate of record global year-end stocks. Chicago Board Of Trade most-active wheat contract fell 0.1 percent to $4.57 a bushel by 0242 GMT,...
| By: Naveen Thukral
UPDATE 1-METALS-London copper slips amid China holiday, global growth woes *China markets closed for new year break; to reopen Monday. MELBOURNE, Feb 10- London copper slipped on Wednesday towards its lowest level in a fortnight as holidays in top consumer China entered a third day, dampening demand, while global growth fears dragged on prices. European finance ministers will call on the Group of 20 biggest world economies at the end of...
| By: Melanie Burton
Oil rebounds from sharp selloff, volatility expected Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session led by concerns over demand and weak equities.
Nikkei falls to lowest since Oct 2014 as stress in banking sector lingers *Abenomics rally has come to an end- analyst. TOKYO, Feb 10- Japan's Nikkei share average fell more than 2 percent to its lowest level since October 2014 on Wednesday as worries about the health of global banks persisted. It had dropped to as low as 15,626.04 earlier, a level not seen since Oct. 30, 2014.
| By: Ayai Tomisawa
GRAINS-Wheat holds near five-year lows on USDA forecast SYDNEY, Feb 10- U.S. wheat was steady on Wednesday, but holding near the lowest since 2010 hit in the previous session, as prices remained under pressure from the U.S. Department of Agriculture's larger-than-expected forecast for end of season stocks. *USDA pegged wheat ending stocks above trade expectations, largely due to a 4 million tonne cut in usage by China,...
Nikkei extends losses to close down 2.3% Monkeys threw a wrench into Asian markets in the Lunar New Year's first week of trading, with sell-offs in Japan, Singapore and Down Under on Wednesday.
| By: Saheli Roy Choudhury