GRAINS-Corn, soy ease for second day as benign weather helps US crops *Wheat near 6- week low on plentiful world supplies. Wheat lost ground to hover near last week's six-week low as the market continued to struggle due to abundant global supplies. Wheat touched $4.93-3/ 4 a bushel on Thursday, the lowest since June 22.
| By: Chinese buyers.
Oil hit multi-month lows on record OPEC output *OPEC oil output hits new high in July. Saudi Arabia and other key members of OPEC show no sign of wavering in their focus on defending market share instead of prices, as the group's oil output hit the highest monthly level in recent history in July, a Reuters survey showed. "The market seems to again focus on the supply situation... one of the difficulties is that Iran may...
| By: Florence Tan
UPDATE 1-China July factory activity shrinks most in 2 years - Caixin PMI BEIJING, Aug 3- China's factory activity shrank more than initially estimated in July, contracting by the most in two years as new orders fell and dashing hopes that the world's second-largest economy may be steadying, a private survey showed on Monday. Fears of a full-blown market crash have added a new sense of urgency for policymakers in Beijing, with many...
Taiwan stocks tumble as economic woes hit tech firms TAIPEI, Aug 3- Taiwan stocks sank on Monday as semiconductor firms were knocked by a worsening outlook for the trade-reliant economy. On Friday, Taiwan reported its lowest quarterly economic growth in three years as a collapse in exports took a toll on tech manufacturers. The Taiwan dollar firmed T $0.073 to T $31.609 per U.S. dollar.
China final Caixin manufacturing PMI falls to 2-year low of 47.8 in July BEIJING, Aug 3- China's factory activity shrank more than initially estimated in July, contracting by the most in two years as new orders fell and dashing hopes that the world's second-largest economy may be steadying, a private survey showed on Monday. China's official factory activity survey released on Saturday showed growth at big manufacturing...
GLOBAL MARKETS WEEKAHEAD-Commodities, currencies and China in the limelight With most commodities priced in U.S. dollars, the strength of the greenback, and the slowdown in China is leading a rout in commodity markets. "If Saudi Arabia and Iraq keep running full tilt and Libya and Iran get their oil production back on track, crude prices could languish below $60 for the next three years," said Morgan Stanley analyst, Martijn Rats in a research...
| By: Clive McKeef
GRAINS-Soybeans fall to near one-week low on Chinese cancellations *Chicago Board Of Trade March soybeans fell 0.4 percent to $9.36-1/ 4 a bushel, near the session low of $9.36 a bushel- the lowest since July 28. *Wheat under pressure from constrained demand for U.S. supplies amid plentiful global supplies and cheaper offerings from competitors in the Black Sea region. *Crop scouts on the U.S. Wheat Quality Council's annual...
China textile factories recruit US workers Once the epitome of cheap mass manufacturing, textile producers from formerly low-cost nations are setting up shop in America, the NYT reports.
Source: The New York Times
| By: Hiroko Tabuchi