TOKYO, Sept 26 (Reuters) – Key TOCOM rubber futures fell about 1 percent in early trade on Thursday, as the market tracked weaker oil prices.
FUNDAMENTALS
* The key Tokyo Commodity Exchange rubber contract for March delivery was changing hands 3.0 yen lower at 274.6 yen as of 0034 GMT.
* Vietnam, one of the world’s five biggest rubber exporters, raised rubber exports by 0.9 percent to 725,068 tonnes in January-September, government trade data showed on Wednesday.
* The market was also awaiting the final reading of U.S. second-quarter gross domestic product data, due later on Thursday, followed by the all-important non-farm payrolls next week.
TOCOM Rubber Futures Prices on Thursday, September 26, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Oct 2013 |
260.9 |
259.0 |
259.0 |
259.0 |
259.0 |
-1.9 |
5 |
|
Nov 2013 |
263.9 |
263.3 |
264.2 |
262.0 |
262.2 |
-1.7 |
11 |
|
Dec 2013 |
267.1 |
266.3 |
267.4 |
264.6 |
265.2 |
-1.9 |
32 |
|
Jan 2014 |
271.1 |
270.9 |
271.0 |
268.0 |
268.7 |
-2.4 |
218 |
|
Feb 2014 |
274.6 |
274.6 |
274.6 |
271.4 |
272.1 |
-2.5 |
1,189 |
|
Mar 2014 |
277.6 |
276.7 |
277.7 |
274.3 |
275.0 |
-2.6 |
1,529 |
|
Total |
|
2,984 |
|||||
MARKET NEWS
* U.S. stocks fell on Wednesday and the S&P 500 put in a fifth day of losses, its longest losing streak since the end of 2012, on jitters funding for the federal government would run out and after a drop in shares of Wal-Mart Stores.
* The U.S. dollar struggled to make any headway in Asia on Thursday, having lost ground overnight as the United States made little progress in averting a government shutdown next week or on raising the limit on its borrowing.
* Crude oil prices edged lower in choppy trading on Wednesday as comments from the Iranian foreign minister revived hopes that talks over Tehran’s nuclear program could see progress, and as U.S. crude oil inventories posted a large build.
* Japan’s benchmark Nikkei average opened down 0.46 percent at 14,553.06 on Thursday, while the broader Topix shed 0.84 percent to 1,200.92.
DATA EVENTS
* The following data is expected on Thursday: (Time in GMT)
– 0645 France Consumer confidence
– 0800 Euro zone M3 money supply
– 1230 U.S. Final Q2 GDP
– 1230 U.S. Weekly jobless claims
– 1400 U.S. Pending home sales
(Reporting by Osamu Tsukimori; Editing by Ed Davies)
Source: Reuters
