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Last update: Mon, 23 Jan 2017 05am

Markets - Commodities

Markets - Commodities - Europe

Copper steady ahead of US payrolls, China underpins LONDON: Copper was little changed on Friday ahead of a key US payrolls report that could boost the dollar, though recent signs of economic improvement in China and the US kept the sell impulse in check. The dollar edged up from a three-week low as traders expect US payrolls will show employers maintained a solid pace of hiring in December, putting the economy on a path to stronger growth and further interest rate increases. A stronger dollar makes dollar-priced metals costlier for non-US investors. "The dollar does seem to be moving prices quite a bit this week," said Capital Economics' senior commodities economist Caroline Bain. Investors in copper have grown cautious after prices rose 2.6 percent on Wednesday to their highest since Dec. 16, trying to gauge to what extent the economic recovery in China and the US has been priced in."The rally (last year) got ahead of itself. Optimism ...

Markets - Commodities - Europe

Wheat again firm on fund rebalancing, weather worries HAMBURG/SINGAPORE: Chicago wheat rose again on Friday, supported by a combination of short-covering before investment fund portfolio changes and concerns about bad weather in the United States and eastern Europe, along with the impact of a weaker dollar this week.Soybeans eased for a second day, while corn fell in profit-taking after strong weekly gains."Markets are moving on a series of factors today rather than one dominant reason," said Matt Ammermann, commodity risk manager at INTL ...

Markets - Commodities - Europe

Cocoa prices rise on Ivory Coast conflict, sugar slips LONDON: Cocoa prices rose on Friday as former soldiers seized control of the second largest city in top grower Ivory Coast, prompting a wave of short covering. Dealers said the unrest appeared to be spreading with reports that gunfire had erupted in the western cocoa growing region of Daloa, hours after demobilised soldiers seized the second largest city, Bouake. "The first story was in a town (Bouake) which isn't in the cocoa areas but then ...

Markets - Commodities - Asia

Palm hits 1-1/2-week low on stronger ringgit, weaker rival oils KUALA LUMPUR: Malaysian palm oil futures were on track for a third straight session of declines on Friday, hitting their lowest in more than a week, as weaker performing rival oils and a stronger ringgit weigh on prices.Benchmark palm oil futures for March delivery on the Bursa Malaysia Derivatives Exchange were down 0.8 percent at 3,071 ringgit ($687) a tonne at the midday break. Earlier in the session, they hit 3,069 ringgit, their weakest since ...

Markets - Commodities - Americas

CBOT corn may revisit Dec. 13 high of $3.64-3/4 SINGAPORE: CBOT March corn may break a resistance at $3.62 per bushel and rise towards the Dec. 13, 2016 high of $3.64-3/4, driven by a wave c.The resistances is provided by the 86.4 percent Fibonacci retracement on the downtrend from $3.64-3/4 to the Dec. 23, 2016 low of $3.45-1/2. Wave pattern indicates that corn is riding on a wave c, the third wave of a three-wave cycle from the Dec. 1, 2016 low of $3.41-3/4.A ...

Markets - Commodities - Asia

China's 2016/2017 sugar output at more than 2.3mn tonnes BEIJING: China's 2016/17 sugar production had reached more than 2.3 million tonnes by December, the state planner said on Friday, citing data from the China Sugar Association. One of the world's top sugar importers, China's crushing season typically starts each year in November.Sales in the 2016/17 season so far have reached 1.2 million tonnes, added the National Development and Reform Commission.Copyright Reuters, 2017

Markets - Commodities - Americas

CBOT wheat may rise into $4.31 to $4.33-1/4 range SINGAPORE: CBOT March wheat may rise more into the range of $4.31 to $4.33-1/4 per bushel, as it has broken a resistance at $4.25-1/2.The resistance was provided by the 61.8 percent Fibonacci retracement of the drop from the Oct. 14, 2016 high of $4.45-3/4 to the Dec. 1, 2016 low of $3.93. Based on this retracement analysis, wheat may gain more to $4.33-1/4.However, the rally seems to be controlled also by a set of Fibonacci ...