News in Brief(21-03-2018)

Wheat prices firm after losses, soybeans rise

HAMBURG, Mar 20: Chicago wheat prices recovered some ground on Tuesday, but trading was cautious after the previous session saw sharp falls as rain on the parched U.S. Plains offered respite for the wheat crop. Soybeans and corn were supported by bargain-buying after Monday's losses. Chicago Board of Trade most-active May wheat was up 0.7 per cent at $4.54-1/4 a bushel at 1110 GMT. Chicago wheat fell 3.6 per cent on Monday. — Reuters

Copper, zinc fall on rising inventories

LONDON, Mar 20: Copper and zinc extended losses on Tuesday as rising inventories highlighted healthy supplies, while concern about trade wars and a stronger dollar also weighed on industrial metals markets. London Metal Exchange zinc stocks have shot up by 60 percent this month and climbed by another 5,350 tonnes on Tuesday to 211,400 tonnes. — Reuters

Gold edges lower ahead of Fed rate decision

LONDON, Mar 20: Gold prices edged lower on Tuesday as the dollar strengthened ahead of a meeting of the Federal Reserve at which the U.S. central bank is expected to raise interest rates for the first time this year. The looming Fed meeting has helped push gold down nearly four per cent from a 1-1/2-year high in January. Spot gold was down 0.3 per cent at $1,312.97 an ounce at 1002 GMT, while the dollar was slightly stronger against a basket of major currencies. — Reuters