08282016Sun
Last update: Sun, 28 Aug 2016 10am

Markets - Commodities

Markets - Commodities - Asia

Palm oil hits over 1-week low on expectations of higher output KUALA LUMPUR: Malaysian palm oil futures fell to their lowest in over a week on Monday, tracking rival oils and as expectations of a pick up in output offset improving export demand.Benchmark palm oil futures for November on the Bursa Malaysia Derivatives Exchange fell 1.4 percent to 2,543 ringgit ($632) per tonne in the evening. It reached a low of 2,530 ringgit, its weakest levels since Aug. 12 and matching the intraday low on Aug. 16.Traded volumes stood at 47,396 lots of 25 tonnes each on Monday evening, above the 2015 average of 44,600."The market has priced in exports. Now it will be looking at negative news," said a Kuala Lumpur-based trader, referring to forecasts for higher production in August.A second trader said palm was dragged down by weaker rival oils on China's Dalian Commodity Exchange: "Dalian shows weakness, so traders are taking the opportunity to take profit."Palm gained over ...

Markets - Commodities - Europe

Gold slides to two-week low on talk of US rate hike LONDON: Gold fell to a two-week low on Monday as upbeat comments from Federal Reserve officials on the US economy boosted expectations that the central bank could lift interest rates sooner rather than later.The Fed's No.2 policymaker, Stanley Fischer, said on Sunday the US central bank is close to hitting targets for full employment and 2 percent inflation.That followed comments last week from New York Fed President William Dudley that the labour market is improving, ...

Markets - Commodities - Europe

Cocoa extends retreat from one-month high, sugar edges up LONDON: Cocoa futures retreated further on Monday from one-month highs set during the previous session on largely technically-driven selling which gathered momentum as sell stops were triggered, dealers said.December New York cocoa fell $122 or four percent to a low of $2,977 a tonne before recovering slightly to $3,019 by 1132 GMT.The contract had climbed to a one-month high of $3,120 on Friday before turning lower as traders started to take profits following strong gains ...

Markets - Commodities - Asia

Palm oil hits almost 1-week low on higher output expectations KUALA LUMPUR: Malaysian palm oil futures fell to their lowest in almost a week on Monday as expectations of a pick up in output offset improving export demand.Benchmark palm oil futures for November on the Bursa Malaysia Derivatives Exchange fell 0.5 percent to 2,565 ringgit ($636) per tonne at noon. It reached an intraday low of 2,533 ringgit, its lowest since Aug. 16. Traded volumes stood at 23,272 lots of 25 tonnes each at the ...

Markets - Commodities - Americas

CBOT soybeans neutral in $10.00-1/4 to $10.18-3/4 range SINGAPORE: CBOT soybeans November contract looks neutral in a range of $10.00-1/4 to $10.18-3/4 per bushel, and an escape could suggest a direction.The range is formed by the 23.6 percent Fibonacci retracement on the downtrend from the June 13 high of $11.86-1/4 to the Aug. 2 low of $9.43, and the 100 percent Fibonacci projection level of an upward wave c, the third wave of a three-wave cycle from $9.43.Even though an inverted head-and-shoulders forming ...

Markets - Commodities - Australia

Iron ore miner Fortescue eyes dividend rise as profit leaps SYDNEY: Australia's Fortescue Metals Group Ltd, the world No. 4 iron ore producer, reported a tripling of its annual net profit on Monday to nearly $1 billion and said it could shoulder a big jump in future dividend payouts. Fortescue surpassed analysts' forecasts by boosting its final dividend by 500 percent to A$0.12 ($0.90) a share for fiscal 2016, taking its total payout for the year to 36 percent of net profit.With iron ore prices ...

Markets - Commodities - Americas

CBOT corn may drop to $3.40-1/2 SINGAPORE: CBOT December corn may drop to a support at $3.40-1/2, as it failed to break a resistance at $3.44-1/2 per bushel.The support and the resistance are provided respectively by the 38.2 percent and the 61.8 percent Fibonacci projection levels of an upward wave c, the third wave of a three-wave cycle from the Aug. 12 low of $3.22-1/2.In addition to its failure to overcome the barrier at $3.44-1/2, corn has started a correction, which ...