Indian gold futures edge higher from 1-month low
2013-05-21 09:13:18 GMT : (Markets - Commodities/Asia)
MUMBAI: Indian gold futures edged higher from their lowest level in a month, helped by global leads and a weaker rupee at home, while banks, the primary dealers of bullion, awaited policy direction after the government restricted imports on a consignment basis.At 0830 GMT, the actively traded gold for June delivery on the Multi Commodity Exchange (MCX) was 0.57 percent higher at 26,238 rupees ($48...
NY cocoa remains neutral while stuck in $2,282-$2,364 range
2013-05-21 09:10:58 GMT : (Markets - Commodities/Asia)
SINGAPORE: New York July cocoa remains neutral, as it is still stuck in a range of $2,282-$2,364 per tonne.The range is formed by the 50 percent and the 23.6 percent Fibonacci retracements on the rise from the April 4 low of $2,126 to the May 3 high of $2,437.A drop below $2,282 will confirm the resumption of a downward wave c towards $2,245, the 61.8 percent retracement, but this wave may travel ...
Spot gold falls 1.1pc to $1,377.04/OZ
2013-05-21 09:03:51 GMT : (Markets - Commodities/Asia)
LONDON: Gold fell 1.1 percent to session lows on Tuesday as the dollar strengthened against a basket of currencies on uncertainty over the message that Fed Chairman Ben Bernanke will deliver when he speaks to the US Congress on Wednesday.Spot gold fell as low as $1,377.04 an ounce. It traded at $1,377.59 by 0912 GMT, still down 1 percent. US gold for June delivery touched a low of $1,376 an ounce,...
Palm oil slips as weak exports drag; Ramadan demand eyed
2013-05-21 06:28:37 GMT : (Markets - Commodities/Asia)
SINGAPORE: Malaysian palm oil futures dropped on Tuesday, stretching losses into a second straight session as lower exports in the first 20 days of the month continued to drag on prices.But traders are counting on a recovery in demand later in the month as buyers stock up ahead of Ramadan, the Muslim holy month that starts early in July, when communal feasting typically drives up consumption."Clas...
Indian soybeans edge higher; rapeseed drops on supply pressure
2013-05-20 09:47:06 GMT : (Markets - Commodities/Asia)
MUMBAI: Indian soybean futures edged higher on Monday on thin supplies and a weak rupee, while rapeseed eased on supply pressure from the new season crop.Soyoil was treading water as sluggish demand outweighed gains in overseas markets.At 0835 GMT, the benchmark Malaysian palm oil contract was up 0.09 percent at 2,338 ringgit per tonne, while US soybeans were 0.28 percent higher at $14.52-1/2 per ...
Indian sugar futures steady on lower cane acreage
2013-05-20 09:45:54 GMT : (Markets - Commodities/Asia)
MUMBAI: Indian sugar futures were treading water on Monday as an improvement in demand due to the summer season and a drop in cane acreage outweighed ample supplies.The key June contract on the National Commodity and Derivatives Exchange was up 0.03 percent at 3,056 rupees ($55.69)per 100 kg at 0919 GMT."Sugar demand is good due to summer season. Prices are also getting support from lower cane pla...
Copper eases on worries Fed will turn off bond-buying tap
2013-05-20 09:45:51 GMT : (Markets - Commodities/Asia)
SINGAPORE: London copper slipped on Monday as strong US economic data raised concerns the world's biggest economy could end its easy- money policy sooner than expected, removing a key driver of investment demand for global commodities.Worries about slowing growth in China, the world's top copper consumer, also weighed on prices.Americans felt better about their economic and financial prosp...
Iron ore may drop further, support seen at $120/tonne
2013-05-20 07:58:12 GMT : (Markets - Commodities/Asia)
SINGAPORE: Spot iron ore prices may stretch their losses this week as Chinese mills curb inventories of the raw material amid an uncertain outlook for steel demand in the world's top consumer.Shanghai rebar futures tracked equities higher on Monday, after having fallen to eight-month lows in the previous session due to slow demand during what is normally a peak consumption season and as the ov...
NY cocoa neutral in $2,282-$2,364 range
2013-05-20 07:52:37 GMT : (Markets - Commodities/Asia)
SINGAPORE: Signals will be neutral for New York July cocoa until it gets out of a range of $2,282-$2,364 per tonne.The range is formed by the 50 percent and the 23.6 percent Fibonacci retracements on the rise from the April 4 low of $2,126 to the May 3 high of $2,437.Cocoa failed to break the support at $2,282, making it unclear if the current wave c will extend towards $2,199, the 76.4 percent le...
Indian gold falls 1.5pc, near 1-month lows
2013-05-16 09:42:46 GMT : (Markets - Commodities/Asia)
MUMBAI: Indian gold futures fell 1.5 percent on Thursday, extending losses for a second straight session, to hit their lowest level in nearly a month in line with global markets.The actively traded gold for June delivery on the Multi Commodity Exchange (MCX) was 1.41 percent lower at 25,939 rupees per 10 grams, after hitting a low of 25,898 rupees, a level last seen on April 20.A weaker rupee limi...
Indian sugar futures hit 2-month high on strong demand
2013-05-16 09:42:38 GMT : (Markets - Commodities/Asia)
MUMBAI: Indian sugar futures rose on Thursday to their highest level in more than two months on an improvement in demand due to the summer season and expectations that state governments would soon start buying the sweetener for public distribution system.The key June contract on the National Commodity and Derivatives Exchange was up 0.46 percent at 3,074 rupees per 100 kg at 0905 GMT, after rising...
LME copper inches up, demand worries dent gains
2013-05-16 08:53:58 GMT : (Markets - Commodities/Asia)
SINGAPORE: London copper edged up on Thursday, after plumbing an almost two-week low in the previous session, but gains may be short-lived as Europe's shrinking economy and a drop in US factory output underline a dimming outlook for demand.Three-month copper on the London Metal Exchange edged up 0.13 percent to $7,207.25 a tonne by 0706 GMT, reversing an earlier drop of around half a percent a...
Iron ore, Shanghai rebar at multi-month lows on slow demand
2013-05-16 08:49:11 GMT : (Markets - Commodities/Asia)
SINGAPORE: Shanghai steel futures fell to their lowest in eight months on Thursday, reflecting weaker demand in top market China that has also cut buying interest for raw material iron ore and pushed its prices to the cheapest since December.A modest pace in China's economic recovery has slowed demand for steel during what is typically the busiest quarter for the metal's market, bloating s...
Corn eases for 2nd day on US planting hopes, wheat drops
2013-05-15 05:54:08 GMT : (Markets - Commodities/Asia)
SINGAPORE: Chicago corn slid for a second consecutive session on Wednesday amid hopes that dry weather this week across the US grain belt will boost planting which is running at a record low pace.Soybeans were little changed with the market underpinned by tight old-crop supplies and expectations of strong demand, while wheat edged lower, tracking corn.US farmers are expected to make rapid progress...
Indonesia coffee consumption to jump a third in 13/14
2013-05-13 23:01:15 GMT : (Markets - Commodities/Asia)
SINGAPORE/JAKARTA: Indonesia's coffee output is likely to see a modest increase in the next crop year to September 2014, but strong domestic demand will boost consumption by nearly a third to more than four million 60-kg bags, a Reuters survey showed on Tuesday.Higher home consumption would trim the volume of beans available for export. Among coffee exporting nations, Indonesia is the second-l...
Argentine 2012/13 soy crop seen 48.3mn T-exchange
2013-05-13 21:16:43 GMT : (Markets - Commodities/Asia)
BUENOS AIRES: Argentina's 2012/13 soybean harvest will be 48.3 million tonnes, the Rosario grains exchange said on Monday in its monthly crop report that slightly lifted its previous estimate of 48 million tonnes."The harvest is 70 percent completed and the latest yield data has allowed us to adjust our crop estimate to 48.3 million tonnes," it said.With 19.5 million hectares planted with soy ...
Indian oilseeds, soyoil rise tracking global markets, low supplies
2013-05-13 13:55:01 GMT : (Markets - Commodities/Asia)
MUMBAI: Indian oilseeds and soyoil rose on Monday, tracking gains in overseas markets and on declining supplies of beans at home.The key June soybean contract on the National Commodity and Derivatives Exchange (NCDEX) was up 0.57 percent at 3,913 rupees per 100 kg."CBOT is up, and domestic supplies are also low, which is helping prices," said Chowda Reddy, a senior analyst with JRG Wealth Manageme...
CBOT soybeans to seek support at $13.86-3/4
2013-05-13 07:04:49 GMT : (Markets - Commodities/Asia)
SINGAPORE: CBOT July soybeans are expected to seek a support at $13.86-3/4 per bushel, as indicated by its wave pattern and a Fibonacci projection analysis.The contract has been presumed riding on an upward wave (c), which started at the May 6 low of $13.66-1/4. This wave will extend an uptrend from the April 5 low of $13.36, towards $14.53-1/2, its 100 percent Fibonacci projection level.The 61.8 ...
Gold drops 1pc to near 2-week low as dollar firms
2013-05-13 07:01:50 GMT : (Markets - Commodities/Asia)
SINGAPORE: Gold fell more than 1 percent on Monday, holding near its weakest level in two weeks, as the dollar firmed on signs of an improving US job market and as holdings in exchange-traded funds slipped again.Bullion's safe-haven appeal has been dimmed by speculation the Federal Reserve could scale back its aggressive monetary stimulus after recent US labour market data pointed to a steady ...
CBOT corn to retest support at $6.27-1/2
2013-05-13 06:59:07 GMT : (Markets - Commodities/Asia)
SINGAPORE: CBOT July corn is expected to retest a support at $6.27-1/2 per bushel, as indicated by its wave pattern and a Fibonacci projection analysis.The drop on May 10 touched a low at $6.25, lower than the previous one at $6.26 hit on May 8, thus confirming the extension of a downtrend that developed from the May 3 high of $6.67.A downward wave c is driving the trend towards $6.12, its 100 per...