News in Brief (10-04-2018)

Gold eases on receding trade war fears

LONDON, April 9 : Gold retreated on Monday, erasing the previous session's slim gains as fading concern over potential escalation in the trade stand-off between China and the United States sparked a recovery in cyclical assets such as stocks at bullion's expense. Gold rose half a per cent on Friday as simmering worries over trade friction and softer than expected US payrolls data for March knocked equities and the dollar lower. However, it has struggled to maintain those gains. — Reuters

Wheat gains on weather impact

PARIS/SYDNEY, Apr 09: Chicago wheat futures rose on Monday to a three-week high as cold weather threatened to stress US wheat already weakened by drought, while soybeans climbed as brisk export sales helped ease concern over a US-Chinese trade dispute. Corn was marginally higher. The US government last Monday gave its lowest rating for winter wheat for the time of year since 2002, following drought in the US Plains, and some crops have since endured a cold spell. — Reuters

Raw sugar futures remain above recent low

LONDON, Apr 09: Raw sugar futures were consolidating just above a recent 2-1/2 year low on Monday as excess supplies continued to cap prices while London cocoa extended its retreat from a one-year high set in late March. May raw sugar was unchanged at 12.34 cents per lb at 1054 GMT as the market continued to hover just above a 2-1/2 year low of 12.18 cents set on March 28. — Reuters