Rubber climbs on weakening yen, Thailand flooding

BANGKOK (Commodity Online) : With Japanese yen weakening and concerns regarding floods in Thailand prevailing, rubber climbed to near a one-month high.
September contract rubber climbed as much as much as 1.5% to touch 464.8 yen a kilogram ($5,444 a metric ton) on the TOCOCM before being traded at 460 yen at 10:44 a.m. local time.
The most active contract touched 466.8 yen on April 5, the highest level since March 7.
The Thailand supplies fall in the season stretching from February to May on wintering. But prevailing rains have ensured flooding in Thailand’s fourteen southern provinces that account for 80 percent of the country’s rubber output, according to Bloomberg Businessweek.
Reports suggest that 19,641 acre of plantations have been damaged in rains.
The floods have affected almost 2 million people.

(Source: http://www.commodityonline.com/news/Rubber-climbs-on-weakening-yen-Thailand-flooding-37971-3-1.html)