Wheat advanced amid Australian harvest fears

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Source: Forexpros
Wheat futures climbed in European morning session on Wednesday as concerns that Australian production may fall by 6.2% in 2012-13 season supported the price. Weaker greenback also boosted appeal of dollar-denominated commodities. Wheat futures for delivery in July traded at 6.2125 US Dollars per bushel on the New York Mercantile Exchange, adding 0.15%.

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Wed, 13 Jun 2012 13:58:46 GMT

Borrowing costs soared at Italian debt auction

Italy faced soaring borrowing costs at today's 12-month auction as worries that the country will need bailout lingered. Italian Treasury sold targeted amount of 12-month sovereign bonds worth 6.5 billion Euros generating the yield of 3.972%, the highest mark since December 2011. Meanwhile, the yield on 10-year government's bonds inched down from 6.22% to 6.10% after the auction.

Wed, 13 Jun 2012 17:39:42 GMT

South Korea's unemployment drops to 3.2%

South Korea's jobless rate reached its bottom in four months due to the continued recruitment boost in the service segment. According to Statistics Korea, the country's unemployment in May fell to 3.2% in contrast to the previous month's 3.4%. However, Ronald Man, HSBC Holding PLC's analyst, stated that as Korean manufactures are becoming more restrained, this could negatively impact the production output, and, consequently, weaken

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