Archives of Markets - Commodities

1. Tokyo stocks likely to rise despite rollercoaster week

   2013-05-24 12:33:18 GMT : (Markets - Commodities/Asia)

   TOKYO: Tokyo shares are likely to trade higher next week on a weaker yen, despite a rocky week which saw the Nikkei plunge on fears over weak China data, dealers said.The Nikkei 225 index had been making steady gains until Thursday when the benchmark index plummeted 7.3 percent after China published poor manufacturing data, stoking fears about the world's second-largest economy which is a majo...

2. Copper steady as investors ponder US, Chinese data

   2013-05-24 11:49:18 GMT : (Markets - Commodities/Europe)

   LONDON: Copper was little changed on Friday as investors weighed the potential impact on metals demand of Thursday's data providing a more upbeat US jobs picture but also showing slower industrial activity in top metals consumer China.Benchmark copper on the London Metal Exchange traded at $7,288.50 a tonne by 0958 GMT, up 0.16 percent from its close on Thursday, when it reached a one-week low...

3. Copper rises but China woes dim demand outlook

   2013-05-24 06:03:49 GMT : (Markets - Commodities/Asia)

   SINGAPORE: London copper futures edged higher on Friday after falling the most in three weeks the session before on signs that growth had stalled in top consumer China.But gains after Thursday's more than 3-percent slide were limited, with most investors wary of buying back the metal after data showed China's manufacturing activity shrank for the first time in seven months, dashing hopes o...

4. Soybeans firm, set for biggest two-week gain in 9 months

   2013-05-24 06:00:41 GMT : (Markets - Commodities/Australia)

   SYDNEY: US soybeans rose for a seventh straight session on Friday as the oilseed closed in on its biggest two-week gain in nearly nine months as tight old-crop stocks and continued strong demand underpinned gains.Corn edged lower for the first time in three sessions, while wheat held steady after surging more than 2 percent in the previous session.Chicago Board of Trade July soybeans rose 0.33 per...

5. Soybeans rise for sixth straight day on thin US supplies

   2013-05-23 22:39:46 GMT : (Markets - Commodities/Americas)

   CHICAGO: US soybean prices rose for a sixth consecutive session on Thursday and struck an eight-month high as the dwindling cash supply left from the drought-plagued 2012 harvest sparked commercial buying in futures.Chicago Board of Trade wheat futures leaped more than 2 percent, advancing for the second day in a row, with a falling dollar and technical buying boosting prices, traders said.Corn al...

6. ICE cotton touches 4-month low on technical selling, China data

   2013-05-23 22:39:15 GMT : (Markets - Commodities/Americas)

   NEW YORK: Cotton futures fell to the lowest level since late January on Thursday, on technically-driven selling, worries over a potential slowdown in top consumer China, and easing supply concerns in the United States, the world's top exporter.The most-active July cotton contract on ICE Futures US fell 1.64 cents, or 2 percent, to settle at 81.78 cents per pound.Earlier, the contract dropped a...

7. Gold up sharply as dollar, stocks slide

   2013-05-23 22:35:22 GMT : (Markets - Commodities/Americas)

   NEW YORK: Gold rose sharply on Thursday as investors sought its safe-haven status after the dollar and equity markets were hit by a slew of weak manufacturing data that indicated stagnant global economic growth.Stock markets around the world fell, extending the previous day's sharp losses, on concerns about global economic growth and the timing of the ending of the US Federal Reserve's sti...

8. Gold up as dollar, shares slide after China, Europe data

   2013-05-23 15:59:27 GMT : (Markets - Commodities/Europe)

   LONDON: Gold bounced back on Thursday from the previous session's losses as the dollar fell sharply and European shares dropped after weak economic data in China and Europe.A euro zone purchasing managers' index showed that while the slump in business activity eased slightly in May, it pointed to a further contraction in the second quarter. The flash HSBC purchasing managers' survey sh...

9. Copper falls after China factory data hits recovery hopes

   2013-05-23 15:37:30 GMT : (Markets - Commodities/Europe)

   LONDON: Copper reversed the week's gains, sliding as much as 3 percent on Thursday after a survey showed factory activity in top metals consumer China shrank for the first time in seven months.Benchmark three-month copper on the London Metal Exchange slid 3.2 percent to a session low of $7,233 per tonne. It failed to trade in official rings but was bid at $7,319.5 per tonne.Other industrial me...

10. ICE canola falls on weaker outside markets

    2013-05-23 14:41:49 GMT : (Markets - Commodities/Americas)

    WINNIPEG: ICE Canada canola futures fell on Thursday, under pressure from lower crude oil and equity markets, and in a correction after a steady run higher in recent sessions.Steady planting progress in Western Canada also seen pressuring the market.New York crude oil futures, which influence canola because of its use in biofuel, were down nearly 2 percent in a broad commodities selloff as a decli...

11. S.Africa's 2013 maize crop f'cast down to 11.44mn tonnes

    2013-05-23 14:32:42 GMT : (Markets - Commodities/Middle East & Africa)

    JOHANNESBURG: South Africa cut its forecast of maize output for 2013 to 11.44 million tonnes from a previous estimate of 11.562 million tonnes, saying dry weather earlier this year affected yields.The maize crop will consist of an estimated 6.026 million tonnes of white maize and 5.414 million tonnes of yellow, the government's Crop Estimates Committee said on Thursday.The harvest estimate is ...

12. Britain raises 2012/13 wheat import forecast

    2013-05-23 14:17:55 GMT : (Markets - Commodities/Europe)

    LONDON: Britain's farm ministry on Thursday raised its forecast for wheat imports in the 2012/13 season (July/June) to 2.54 million tonnes from a previous projection of 2.26 million.Imports of wheat into Britain have soared this season following a poor harvest last summer. In the 2011/12 season, Britain imported 908,000 tonnes of wheat.Customs data issued last week put UK wheat imports up to t...

13. NY cocoa to drop to $2,282, targets $2,245

    2013-05-23 09:43:34 GMT : (Markets - Commodities/Asia)

    SINGAPORE: New York July cocoa is expected to drop to a support at $2,282 per tonne, as it has completed a wave b rebound.This wave started at the May 13 low of $2,286 and has adopted a flat pattern within a range of $2,276-$2,364, which is formed by the May 17 low and the 23.6 percent Fibonacci retracement on the rise from the April 4 low of $2,126 to the May 3 high of $2,437.A downward wave c is...

14. NY cocoa to drop to $2,282, targets $2,245

    2013-05-23 09:43:34 GMT : (Markets - Commodities/Asia)

    SINGAPORE: New York July cocoa is expected to drop to a support at $2,282 per tonne, as it has completed a wave b rebound.This wave started at the May 13 low of $2,286 and has adopted a flat pattern within a range of $2,276-$2,364, which is formed by the May 17 low and the 23.6 percent Fibonacci retracement on the rise from the April 4 low of $2,126 to the May 3 high of $2,437.A downward wave c is...

15. Gold climbs 1.3pc as dollar index hits session lows

    2013-05-23 09:38:22 GMT : (Markets - Commodities/Europe)

    LONDON: Gold prices rose more than 1 percent on Thursday, lifted by weakness in the dollar as it slid to session lows against a basket of currencies, with investors opting for safe-haven currencies like the yen.Spot gold was up 1.3 percent at $1,386.60 an ounce at 0846 GMT, while US gold futures for June delivery were up $18.20 an ounce at $1,385.60. Copyright Reuters, 2013 ...

16. CBOT corn neutral below resistance at $6.61-1/2

    2013-05-23 07:02:36 GMT : (Markets - Commodities/Asia)

    SINGAPORE: Signals have turned neutral for CBOT July corn, despite its surge on Wednesday.The surge is still confined within a range from $6.34 to $6.61-1/2, which has been defined by the two trendlines of a triangle. There might be five waves making up this pattern, with the rise from the Tuesday low of $6.32-1/2 viewed as the final wave labelled E.The triangle will be bullish, should corn be abl...

17. CBOT wheat may drop to $6.81-1/2

    2013-05-23 06:56:30 GMT : (Markets - Commodities/Asia)

    SINGAPORE: CBOT July wheat faces a resistance at $6.92-1/4 per bushel, and may drop to $6.81-1/2.The resistance is provided by the 61.8 percent Fibonacci retracement on the rise from the April 1 low of $6.64-3/4 to the April 30 high of $7.36-3/4, and it has been enforced by another one established by a trendline descending from the May 9 high of $7.27-3/4.In addition, the rise from the May 21 low ...

18. CBOT soybeans to peak around $15.07-1/2

    2013-05-23 05:06:03 GMT : (Markets - Commodities/Asia)

    SINGAPORE: CBOT July soybeans are expected to peak around a strong resistance at $15.07-1/2 per bushel and then start a deep correction.The resistance is provided by the 161.8 percent Fibonacci projection level of an upward wave c, which started at the May 6 low of $13.66-1/4. This wave has been overextended, as it is more than 1.382 times the length of the wave a, as revealed by a Fibonacci proje...

19. ICE cotton down for 3rd straight session, under spread pressure

    2013-05-22 22:48:01 GMT : (Markets - Commodities/Americas)

    NEW YORK: Cotton futures edged down on Wednesday to a three-week low, under pressure from spread-related dealings and forecasts of rains in Texas that could ease supply concerns in the top producing state in the United States, dealers said.The most-active July cotton contract on ICE Futures US fell 0.44 cent, or 0.5 percent, to settle at 83.42 cents per pound, down for a third straight session.Pri...

20. Gold up on weaker dollar, stimulus hopes before Fed testimony

    2013-05-22 10:15:28 GMT : (Markets - Commodities/Europe)

    LONDON: Gold rose on Wednesday as the dollar fell after Federal Reserve officials allayed investor concerns that the US central bank would soon reduce its bond-buying programme, while Chinese physical demand also lent some support to prices.On Tuesday, New York Federal Reserve Bank President William Dudley and St. Louis Fed chief James Bullard said that further economic progress was needed before ...