07262016Tue
Last update: Tue, 26 Jul 2016 01am

Markets - Commodities

Markets - Commodities - Americas

CBOT soybeans to fall to $9.80 SINGAPORE: CBOT soybeans November contract may break a support at $9.96-1/2 per bushel and fall more to the next support at $9.80, as suggested by its wave pattern and a Fibonacci projection analysis.The contract is riding on downward wave C, the third wave of a three-wave cycle from the June 13 high of $11.86-1/4. This wave is capable of travelling to $9.57-3/4, its 100 percent projection level.A more realistic target could be $9.80, the 86.4 percent level, which will be confirmed when the contract breaks $9.96-1/2, the 76.4 percent level.Copyright Reuters, 2016

Markets - Commodities - Americas

CBOT corn may drop to $3.28-1/2 SINGAPORE: CBOT December corn may drop to $3.28-1/2 per bushel as it has broken a support at $3.40-1/2.The support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the June 17 high of $4.49. This wave is capable of traveling to $3.16-1/4, its 61.8 percent Fibonacci projection level. A more realistic target could be $3.28-1/2, the 50 percent level.Resistance is at $3.46, ...

Markets - Commodities - Asia

Palm eases from 2-week high, strong demand limits losses SINGAPORE: Malaysian palm oil edged lower on Friday, taking a breather after climbing to a two-week high in the last session, although expectations of strong demand for the vegetable oil kept a floor under the market.The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange lost 0.7 percent to 2,337 ringgit ($574.9) a tonne by the midday break. On Thursday, it climbed to 2,368 ringgit, highest since July 5.Volumes stood at 14,116 lots at ...

Markets - Commodities - Americas

CBOT wheat may retest support at $4.06-1/2 SINGAPORE: CBOT Sept. wheat may retest a support at $4.06-1/2 per bushel, as it could have completed a bounce caused by this level.For a chart: http://tmsnrt.rs/29PFLTxThe support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the June 8 high of $5.33-3/4.The bounce from $4.06-1/2 could be broken down into three small waves, with the third wave labelled c having stopped around ...

Markets - Commodities - Europe

EU wheat soars on concerns over final volume of French crop PARIS: European wheat prices rocketed on Thursday on growing concerns about the final size of the harvest in top European Union producer and exporter France, traders said.Front-month September on Paris-based Euronext milling wheat futures unofficially closed 4.5 percent higher at 167.75 euros a tonne, a price unseen since June 14.December was 3.4 percent higher at 169.00 euros.Traders said they expected September to surpass December on short covering due to the poorer-than-expected quality of the harvest."It ...

Markets - Commodities - Americas

Argentina raises its view of 2015-16 soybean and corn crops LIMA: Argentina's 2015-16 soybean crop is expected at 58.8 million tonnes, the Agriculture Ministry said on Thursday, revising its previous estimate of 58 million tonnes. The ministry also raised its forecast for the 2015-16 corn crop to 39.8 million tonnes from 37.9 million and said it now sees the wheat planting area at 5.25 million hectares, down from 5.34 million before. Copyright Reuters, 2016

Markets - Commodities - Europe

Gold holds above 3-week low as ECB leaves rates unchanged LONDON: Gold remained above a three-week low on Thursday, as the dollar and European shares fell after the European Central Bank left key interest rates unchanged, but better-than-expected US jobs data weighed.The ECB held rates at record lows as it seeks to revive growth and inflation with cheap credit to the economy. It added that it still expects its key interest rates to remain at present or lower levels for an extended period.ECB President Mario ...