12052016Mon
Last update: Mon, 05 Dec 2016 07pm

Markets - Commodities

Markets - Commodities - Americas

NY cocoa signals mixed SINGAPORE: Signals are mixed for New York December cocoa, as it failed to break resistance at $3,229 per tonne.Resistance is provided by the 61.8 percent Fibonacci projection level of an upward wave c, the third wave of a three-wave cycle from the Oct. 12 low of $3,026.This wave may end around this resistance, or extend to $3,306, its 100 percent projection level. The extension could only be confirmed when cocoa finally overcomes the barrier at $3,229.A break below $3,206, the 50 percent level, could cause a loss to $3,182, the 38.2 percent level.Copyright Reuters, 2015

Markets - Commodities - Americas

CBOT soybeans fall on rain outlook in Brazil CHICAGO: Chicago Board of Trade soybean futures fell for the fifth time in six sessions on Thursday, weighed down by forecasts for some much-needed rain in key crop producing areas of Brazil, analysts said.Soybeans firmed during the overnight trading session but turned lower after the benchmark November contract hit resistance near its 40-day moving average.Soymeal futures closed higher, supported by bargain buying after the front-month contract hit its lowest since June 2. But the gains ...

Markets - Commodities - Europe

European vegoils: Palm oil eases on weaker ringgit ROTTERDAM: Palm oil on the European vegetable oils market eased on Thursday as a weaker ringgit made dollar-priced palm oil and refined products cheaper. At the same time the ringgit supported Malaysian palm oil futures on hopes for improved export demand. "Currencies were again the driving force in the European cash market and the lower levels in palm oils attracted some business today," one broker said. Palm oil was offered between $2.50 and $17.50 a ...

Markets - Commodities - Americas

Wheat, corn close firm on technical buying; soybeans slip CHICAGO: US wheat futures rallied nearly 2 percent on Thursday, supported by a round of short-covering and signs of improving export demand, traders said. A pickup in exports also boosted corn futures, as technical buying lent further support to both corn and wheat after prices dipped during the overnight trading session. "That fear of a large net-short position is really rallying the wheat market, and corn followed," said Dan Basse, president of AgResource Company. "And ...

Markets - Commodities - Americas

Gold falls to three-week low on rate hike talk NEW YORK/LONDON: Gold fell for a second day on Thursday, reaching its lowest level in three weeks, after the Federal Reserve hinted at a possible US interest rate rise in December.Spot gold, stronger initially due to a retreat in the dollar, fell as much as 0.9 percent to its lowest since Oct. 9 at $1,145.43 an ounce.It was down 0.8 percent at $1,146.10 at 2:58 p.m. EDT (1858 GMT). US gold futures for December delivery ...

Markets - Commodities - Americas

CBOT corn up 1pc on US export sales, wheat gains CHICAGO: Chicago Board of Trade corn futures rose 1 percent on Thursday, rebounding from a roughly one-week low reached earlier in the session on support from better-than-expected US export sales, traders said.Sharply higher wheat futures also underpinned the corn market as investors covered short bets on prices for each commodity.Most-active CBOT December corn settled 4 cents higher at $3.80 per bushel, after hitting a session low of $3.75-1/2, which was the lowest level since Oct. ...

Markets - Commodities - Asia

Spot gold still targets $1,155 SINGAPORE: Spot gold still targets $1,155 per ounce, as it has been hovering below resistance at $1,168 after falling through this level.Resistance is provided by the 76.4 percent Fibonacci projection level of an upward wave C, the third wave of a three-wave cycle from the July 24 low of $1,077. Based on this projection analysis, the next support will be at $1,155, the 61.8 percent level. The metal is riding on a small wave c, ...