06262016Sun
Last update: Sun, 26 Jun 2016 06pm

Markets - Commodities

Markets - Commodities - Asia

South Korea's FLC bought 130,000 tonnes corn in private deals HAMBURG: South Korea's Feed Leaders Committee (FLC) purchased 130,000 tonnes of yellow corn in two private, non-tender deals late on Wednesday, European traders said on Thursday. The corn can be sourced from any origin worldwide but was expected to come from the Black Sea region, traders said.Some 65,000 tonnes was purchased at $209.50 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading, they said.It was for shipment for Sept. 21-Oct. 10 from the Black Sea with arrival in South Korea around Nov. 15, they said.Another 65,000 tonnes was purchased at $202.30 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading, they said.It was for shipment for Oct. 12-31 from the Black Sea for arrival in South Korea around Nov. 30, they said.The purchases were made after South Korea's Major Feedmill Group (MFG) made a large purchase of 463,000 tonnes of optional-origin corn ...

Markets - Commodities - Asia

Spot gold still targets $1,252 SINGAPORE: Spot gold still targets $1,252 per ounce, as suggested by its wave pattern and a Fibonacci retracement analysis.A five-wave cycle from the Dec. 3, 2015 low of $1,045.85 has completed, and gold has moved into a short-term correction phase. Over the next one or two weeks, it could retrace into the range of $1,181-$1,213, formed by the 50 percent and the 38.2 percent retracements on the uptrend from $1,045.85 to the June 16 high ...

Markets - Commodities - Europe

London copper buoyed near 2-wk top ahead of UK vote MELBOURNE: London copper floated near its highest in more than two weeks on Thursday on a softer dollar, but gains were capped as Britain geared up to vote on whether to leave the European Union. British Prime Minister David Cameron and his eurosceptic opponents made final pitches to wavering voters on Wednesday, the eve of a referendum on European Union membership, with the outcome still too close to call."If the UK remains in the EU, ...

Markets - Commodities - Asia

LME aluminium's target at $1,648 intact SINGAPORE: LME aluminium may take a longer time to reach a target at $1,648 per tonne, as it seems to have lost its momentum after breaking above the resistance at $1,624.The resistance was provided by the 86.4 percent Fibonacci projection level of an upward wave C, the third wave of a three-wave cycle from the Nov. 23, 2015 low of $1,432.50. The next resistance will be at $1,648, the 100 percent level.So long as the ...

Markets - Commodities - Asia

Shanghai copper biased to retrace to 35,680 yuan SINGAPORE: Shanghai copper is biased to retrace to a support at 35,680 yuan per tonne, as it failed to break a resistance at 36,220 yuan.For a chart: (http://tmsnrt.rs/28OPrcq)The support and the resistance are identified respectively as the 14.6 percent and the 23.6 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle from the Nov. 24, 2015 low of 33,150 yuan.It seems that a pullback has been caused by ...

Markets - Commodities - Americas

CBOT soybeans to test support at $11.00-3/4 SINGAPORE: CBOT soybeans November contract is expected to test a support at $11.00-3/4 per bushel, a break below which could cause a loss to the next support at $10.89-1/2.These supports are identified respectively as the 61.8 percent and the 76.4 percent Fibonacci projection levels of a downward wave c, the third wave of a three-wave cycle from the June 13 high of $11.86-1/4.At its full capacity, its wave could travel to $10.71, the 100 percent ...

Markets - Commodities - Asia

Palm falls to six-month low on outlook for supply rise, export drop KUALA LUMPUR: Malaysian palm oil futures fell to their lowest since December on Thursday morning on expectations for supply to rise on a seasonal production gain and exports to decline.Traders are forecasting rising seasonal output, and for exports in June to weaken from May. A stronger ringgit, palm's traded currency, also contributed to market losses on Thursday.Palm had earlier declined for nine consecutive sessions before paring losses for a day last Friday. It has since ...