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Soybeans extend two-day gains to 2pc on dry weather concerns SYDNEY: US new-crop soybeans rose for a second straight session on Thursday to extend gains to 2 percent, as the oilseed drew support from concerns that dry weather might limit yields as old-crop stocks run tight. Copyright Reuters, 2014

Australian wheat yields under pressure as dry weather seen persisting SYDNEY: Dry weather is likely to persist across eastern Australia for the next three months, the Bureau of Meteorology (BOM) said on Thursday, exacerbating stress on cattle and adding to concerns that wheat yields could suffer in the world's third largest exporter. The chance of below median rainfall between August and October is greater than 60 percent in northern Queensland, southern New South Wales and most of Victoria, the BOM said.The dry outlook threatens wheat ...

Spot gold targets $1,280 SINGAPORE: Spot gold is expected to break below a support at $1,293 per ounce, and fall further to $1,280.The metal has cleared a barrier at $1,305, the 38.2 Fibonacci retracement on the rise from the June 3 low of $1,240.61 to the July 10 high of $1,345 to $1,291.70. Wave pattern suggests it is riding on wave (3), which is powerful enough to travel to $1,280, the 61.8 percent level.A sudden rise above $1,305 will ...

LME copper to rise to $7,157 SINGAPORE: LME copper is expected to rise to $7,157 per tonne, based on its wave pattern and a Fibonacci projection analysis. The metal is riding on wave c, the third wave of a three-wave cycle that developed from the July 18 low of $6,960. The Fibonacci projection analysis points to a target at $7,157, the 100 percent level. This target is near $7,152, the 76.4 percent Fibonacci retracement on the fall from the July 8 ...

LME aluminium to revisit high of $2,054.75 SINGAPORE: LME aluminium is expected to revisit its July 22 high of $2,054.75 per tonne, as it could have completed a correction from this level.The correction has been triggered by resistance at $2,062, the 138.2 percent Fibonacci projection level of an upward wave c that developed from the June 12 low of $1,836. Bulls could have accumulated enough momentum to retest this resistance. A further drop from the current level could be limited to support ...

China gold demand slumps 19.4pc on year, but output rises SHANGHAI: China's gold demand slumped 19.4 percent in the first six months of 2014 from year ago, the China Gold Association said in a statement on Thursday, but production rose strongly in the same period as miners ramped up output to protect profit margins. Gold demand from China, the world's largest consumer, has slackened this year as a 28 percent tumble in 2013 prices, which was the first annual decline in 13 years, dented consumer ...

London copper hits one week top as China's growth revives SYDNEY: London copper rallied to its highest in more than a week on Thursday after China's factory sector grew at the fastest clip in 18 months in July, shrugging off news that Indonesia may soon resume ore exports that could smooth out kinks in supply. China is the world's biggest copper user, but slowing growth in manufacturing and property has dragged on the demand outlook for the metal while a surplus is expected to seep ...


Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52

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