08242016Wed
Last update: Wed, 24 Aug 2016 04pm

Markets - Commodities

Markets - Commodities - Americas

NY cocoa may fall further to $2,938 SINGAPORE: New York Dec. Cocoa may break a support at $2,973 per tonne and fall further to the next support at $2,938, as per wave pattern and Fibonacci retracement analysis.These supports are at the 50 percent and the 61.8 percent Fibonacci retracements, respectively, of the uptrend from the July 29 low of $2,826 to the Aug. 19 high of $3,120.The trend consists of three waves, and the second wave, labeled b, has ended around $2,938. Wave theory suggests that this level could be revisited. Any bounce from current level could be capped at $3,035, a trendline resistance.Copyright Reuters, 2016

Markets - Commodities - Europe

London copper near 6 weeks lows as supplies mount MELBOURNE: London copper edged higher on Tuesday on support from a softer US dollar, but the metal was still hanging near six-week lows as swelling supply kept a tight lid on its price prospects. The dollar eased against a basket of currencies ahead of this week's US Federal Reserve meet in Jackson Hole, Wyoming, with opinions mixed on whether officials will make a clear case for an interest rate hike this year.The dollar edged back ...

Markets - Commodities - Americas

Gold falls to two-week low on US rate hike prospects NEW YORK/LONDON: Gold prices slid on Monday and hit a two-week low as upbeat comments from Federal Reserve officials on the US economy boosted expectations that the central bank could lift interest rates sooner rather than later.The Fed's No.2 policymaker, Stanley Fischer, said on Sunday the central bank is close to hitting targets for full employment and 2 percent inflation.That followed comments last week from New York Fed President William Dudley that the labour market ...

Markets - Commodities - Americas

Soybeans climb on persistent export demand; corn, wheat sag CHICAGO: US soybean futures rose on Monday, with the benchmark November contract reaching its highest in a month on strong export demand for US supplies, traders said.Wheat futures fell nearly 3 percent, led by the spot September contract, while corn drifted lower in rangebound trade.At the Chicago Board of Trade, the November soybean contract settled up 11-1/4 cents at $10.15-3/4 per bushel. September wheat ended down 11-3/4 cents at $4.15-1/4 a bushel and December corn ...

Markets - Commodities - Americas

US Cash Crude-Grades mixed in choppy trading NEW YORK: US cash crude differentials were mixed on Monday in choppy trading, as the front month futures contract expired and traders began to square up business in the final days to trade September barrels.The September/October cash roll, which allows traders to roll long positions forward, traded at minus 55 cents a barrel, dealers said.Meanwhile, stocks at Cushing, Oklahoma fell by roughly 187,000 barrels the week to Aug. 19, traders said, citing data from energy ...

Markets - Commodities - Americas

US Cash Grains-Corn, soy bids unchanged on minimal farmer sales  CHICAGO: Corn and soybean spot basis bids at elevators and processors around the Midwest held steady on Monday after soft corn futures and higher soybean contracts limited farmer selling, dealers said.Chicago Board of Trade corn slipped while awaiting findings later on Monday from the annual Pro Farmer Midwest Crop Tour.The US Department of Agriculture's weekly crop condition report on Monday afternoon rated corn condition 75 percent good/excellent versus 74 percent a week ago.Soybean futures finished ...

Markets - Commodities - Middle East & Africa

Ivory Coast rains help main cocoa crop, some farmers fear disease ABIDJAN: Light rains in most of Ivory Coast's main cocoa regions augur well for the crop in the world's biggest producer, farmers said on Monday, but cloudy weather has stoked fears of disease in the south.Farmers need the right mix of rain and sunny spells in July and August to strengthen the development of pods and avoid cocoa rot and disease ahead of the main crop, which runs from October to March. In the western ...