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Nov 17: Tocom Rubber Settles Up On Thailand Weather

[Dow Jones] Tocom RSS3 rubber futures settle higher after rising above Y240/kg for first time in 13 months. “Once prices rose above Y240/kg, some investors liquidated positions to take profits but the overall outlook is positive,” says exporter in Singapore; adds adverse weather pushing prices higher. This year, heavy rains in southern Thailand started one month ahead of schedule badly impacting rubber production, says Chiaki Furui, chief executive at Agrow Enterprise, Thailand-based commodities brokerage. Benchmark Tocom April contract settles Y1.6 higher at Y238.3/kg after reaching intraday high of Y240.7, level not seen since last October. (SAM)

Source: Dow Jones

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This entry was posted on Tuesday, November 17th, 2009 at 7:22 pm and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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