MTECHTIPS COMMODITY MARKET NEWS 3

MTECHTIPS:-Gold futures little changed after Greece debt deal

Gold futures were steady during European morning hours on Tuesday, trading close to the previous sessions six-week high after euro-zone finance ministers reached a deal to release the next tranche of bailout funds to Greece.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery traded at USD1,752.75 a troy ounce during European morning trade, little changed on the day.Prices traded in a tight range between USD1,750.95 a troy ounce, the daily low and a session high of USD1,754.15 a troy ounce. Futures touched a six-week high of USD1,754.65 a troy ounce on Monday.Gold prices were likely to find support at USD1,720.25 a troy ounce, the low from November 21 and resistance at USD1,774.95, the high from October 12.Euro zone finance ministers, the European Central Bank and the International Monetary Fund reached an agreement in a meeting that wrapped up early Tuesday in Brussels to reduce Greeces debtreduction target by EUR40 billion to 124% of gross domestic product by 2020.Other measures included an extension of loan maturities, a cut in the interest rates that Greece is paying on the loans from its international partners, as well as a debt buyback.Athens was also cleared to receive a much-needed EUR34.4 billion loan installment in December, easing fears over a messy near-term default and potential exit from the euro zone.

MTECHTIPS:-Crude oil edges higher on Greece news; fiscal cliff concerns cap gains
Crude oil futures were higher during European morning trade on Tuesday, as sentiment was lifted after euro zone finance ministers reached a deal on new debt targets for Greece, paving the way for the debt-stricken country to receive its next installment of aid.On the New York Mercantile Exchange, light sweet crude futures for delivery in January traded at USD88.00 a barrel during European morning trade, up 0.3% on the day.New York-traded oil prices rose by as much as 0.55% earlier in the day to hit a session high of USD88.25 a barrel. Euro zone finance ministers, the European Central Bank and the International Monetary Fund reached an agreement in a meeting that wrapped up early Tuesday in Brussels to reduce Greeces debt-reduction target by EUR40 billion to 124% of gross domestic product by 2020.Other measures included an extension of loan maturities, a cut in the interest rates that Greece is paying on the loans from its international partners, as well as a debt buyback.Athens was also cleared to receive a much-needed EUR34.4 billion loan installment in December, easing fears over a messy near-term default and potential exit from the euro zone.

MTECHTIPS:-Thailand set to surpass India in Rice exports

With India expected to ship around 7 million metric tons of rice this year that began October 1, Thailand may surpass India with exports to the tune of 7.3 million tons of rice for the current year.India last year had exported 10.4 million tons of rice, including aromatic Basmati rice. The projection that Thailand would surpass India in rice exports is according to data from International Rice Research Institute.Thailand has little choice but to release stocks and that will probably lead to lower prices, Concepcion Calpe, a senior economist at the FAO, said from Rome to Bloomberg.There will be growing competition from less important rice-supplying countries, such as Brazil, Russia, Egypt and Australia in the export markets, which will tend to reduce prices in 2013. he added.Thailand meanwhile may see exports to the tune of 8.5 million tons in the next year. The country's stockpiles of the

commodity may climb to a record 12.1 million tons by the end of 2012-2013 from 9.8 million tons a year earlier, USDA said in a report.In line with the huge output, Thailand's rice stocks may tear the warehouses apart due to lack of space and the nation wants to clear the glut.

MTECHTIPS:-Copper futures climb to 4-week high after Greece debt deal

Copper futures rose to a four-week high during European morning hours on Tuesday, as appetite for riskier assets after euro zone finance ministers reached a deal on new debt targets for Greece, paving the way for the debt-stricken country to receive its next installment of aid.On the Comex division of the New York Mercantile Exchange, copper futures for March delivery traded at USD3.561 a pound during European morning trade, up 0.35% on the day.New York-traded copper prices rose by as much as 0.5% earlier in the day to hit a session high of USD3.565 a pound, the strongest level since November 1.Euro zone finance ministers, the European Central Bank and the International Monetary Fund reached an agreement in a meeting that wrapped up early Tuesday in Brussels to reduce Greeces debt-reduction target by EUR40 billion to 124% of gross domestic product by 2020.Other measures included an extension of loan maturities, a cut in the interest rates that Greece is paying on the loans from its international partners, as well as a debt buyback.Athens was also cleared to receive a much-needed EUR34.4 billion loan installment in December, easing fears over a messy near-term default and potential exit from the euro zone.

MTECHTIPS:-Grains - Soybeans hit 2-week high on South America crop concerns

U.S. grain futures were higher during European morning hours on Tuesday, with soybean prices climbing to a two-week high amid mounting concerns over crop conditions in Brazil and Argentina. On the Chicago Mercantile Exchange, soybeans futures for January delivery traded at USD14.3600 bushel, up 0.75% on the day. The January contract rose by as much as 1% earlier to hit a session high of USD14.4038 a bushel, the strongest level since November 12.Grain traders continued to monitor crop conditions in key grain growing regions in Brazil and Argentina, the worlds second and third largest exporters of the oilseed.Brazil-based industry group Celeres said Monday that approximately 74% of the nations soybean crop was planted as of last week, compared to 81% in the same week a year earlier.The Buenos Aires Cereals Exchange said on November 22 that 37% of the nations soy crop was planted as of last week, compared to 47% a year ago. Weather service provider Telvent DTN said Monday that storms expected later this week in Brazil and Argentina will continue to delay soybean and corn planting.Despite recent gains, soybean prices have been on a downward trend in recent weeks, losing nearly 20% since hitting an all-time high of USD17.8888 a bushel on September 4, amid easing concerns over shrinking global supplies.Meanwhile, corn futures for March delivery traded at USD7.5562 a bushel, up 0.55% on the day.