Benchmark TOCOM rubber futures headed for a third straight gain on Wednesday, rising nearly 1 percent in early trade as a weaker yen continued to provide support to the market.
FUNDAMENTALS
* The Tokyo Commodity Exchange rubber contract for February delivery rose 2.2 yen to 231 yen ($2.10) per kg by 0008 GMT.
* A weaker yen makes yen-denominated commodities cheaper for holders of other currencies.
MARKET NEWS
* Oil prices rose on Tuesday after OPEC forecast higher demand in 2018 and Russia and Venezuela confirmed their commitment to a production-cutting deal to reduce the global crude glut.
* The U.S. dollar was quoted around 110.25 yen, compared with around 109.57 yen on Tuesday afternoon.
* Japan's benchmark Nikkei stock average was up 0.5 percent.
* Copper prices slid on Tuesday as funds cut bets on higher prices, inventories in London Metal Exchange warehouses jumped and the dollar steadied at higher levels.
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