Markets - Commodities
54
BUENOS AIRES: Argentina's 2012/13 soybean harvest will be 48.3 million tonnes, the Rosario grains exchange said on Monday in its monthly crop report that slightly lifted its previous estimate of 48 million tonnes."The harvest is 70 percent completed and the latest yield data has allowed us to adjust our crop estimate to 48.3 million tonnes," it said.With 19.5 million hectares planted with soy this season, national average yields are coming in at 2.58 tonnes per hectare, the report said.The season's corn harvest is expected at 24.5 million tonnes, down from a previous forecast of 25.3 million tonnes due to lower-than-expected yields, the report said."With 60 percent of corn harvested, we have adjusted our yield calculations and this has impacted estimated crop size," it said."According to our latest measurements, average yields are 7.05 tonnes per hectare, lower than the 7.17 tonnes per hectare that was estimated in last month's report," it ...
CHICAGO: Chicago Board of Trade corn and soybean price spreads reached multi-month highs on Monday as razor thin supplies at country elevators and processors forced traders to cover short positions before May contracts expire.The front-month Chicago Board of Trade May corn contract rallied to a premium of 57-1/2 cents compared with the July contract, the biggest inverse in the market since Jan. 8. The premium for CBOT May soybeans peaked at $1.44 higher than CBOT ...
LONDON: Gold fell 1.2 percent on Monday, holding near its weakest level in two weeks, as the dollar firmed on signs of an improving US job market and as holdings in exchange-traded funds slipped again.Bullion's safe-haven appeal has been dimmed by speculation the Federal Reserve could scale back its aggressive monetary stimulus after recent US labour market data pointed to a steady recovery trend in the world's largest economy.Gold dropped more than $18 to $1,429.61 ...
MUMBAI: Indian oilseeds and soyoil rose on Monday, tracking gains in overseas markets and on declining supplies of beans at home.The key June soybean contract on the National Commodity and Derivatives Exchange (NCDEX) was up 0.57 percent at 3,913 rupees per 100 kg."CBOT is up, and domestic supplies are also low, which is helping prices," said Chowda Reddy, a senior analyst with JRG Wealth Management.Buying is advised in June soybean at 3,910 rupees for a ...
LONDON: Copper edged up on Monday because weak Chinese factory data for April raised the hope that metal consumer to embark on monetary easing further, which would lead demand for metals.London Metal Exchange rose 0.5 percent to $7,409 a tonne by 1039 GMT, from the previous session when it ended at $7,375, up nearly 2 percent on the week. Copper hit $7,480 last Wednesday, its highest in nearly a month.China's factory output growth was surprisingly ...
SINGAPORE: CBOT July soybeans are expected to seek a support at $13.86-3/4 per bushel, as indicated by its wave pattern and a Fibonacci projection analysis.The contract has been presumed riding on an upward wave (c), which started at the May 6 low of $13.66-1/4. This wave will extend an uptrend from the April 5 low of $13.36, towards $14.53-1/2, its 100 percent Fibonacci projection level.The 61.8 percent level has served as a strong resistance and ...
SINGAPORE: Gold fell more than 1 percent on Monday, holding near its weakest level in two weeks, as the dollar firmed on signs of an improving US job market and as holdings in exchange-traded funds slipped again.Bullion's safe-haven appeal has been dimmed by speculation the Federal Reserve could scale back its aggressive monetary stimulus after recent US labour market data pointed to a steady recovery trend in the world's largest economy.Gold had dropped $11.94 an ...More Articles...
| |||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||
