08292016Mon
Last update: Mon, 29 Aug 2016 01am

Markets - Commodities

Markets - Commodities - Americas

US Cash Grains-Corn, soy basis bids mostly unchanged CHICAGO: Most spot corn and soybean basis bids on Friday at elevators and processors around the US Midwest held steady on light farmer sales as corn futures gained slightly and soybean futures slipped in weekend positioning, merchants said.Chicago Board of Trade corn garnered modest short-covering support that was limited by sentiment that traders may have already factored in a potentially huge big corn harvest.Expectations of a record bean crop weighed on the soybean futures at the exchange.Soybean basis bids at western Illinois and Mississippi River terminals mostly firmed due to increased demand for the product that was loaded and shipped to the US Gulf.Basis bids for corn at those locations were generally weaker.Copyright Reuters, 2016

Markets - Commodities - Asia

Aluminium near 13 month high on China boost, copper set for weekly gain MANILA: London aluminium futures held near their strongest level in 13 months on Friday, propped up by firm demand and tighter supply in top market China. Copper edged lower, but was still heading for its first weekly gain in five after minutes of the US Federal Reserve's July meeting, released this week, showed policymakers were in no rush to hike rates.Three-month aluminium on the London Metal Exchange was little changed at $1,684 a tonne by ...

Markets - Commodities - Asia

Shanghai copper to test support at 37,010 yuan SINGAPORE: Shanghai copper is expected to test a support at 37,010 yuan per tonne, as a bounce caused by this level could have finished.The support is provided by the 50 percent Fibonacci retracement on the uptrend from the May 20 low of 34,810 yuan to the July 13 high of 39,210 yuan. The metal's failure to break a resistance at 37,530 yuan, the 38.2 percent level, suggests a resumption of the downtrend.Copper is riding on ...

Markets - Commodities - Asia

Iron ore heads for 3rd weekly gain in four on firm Chinese steel MANILA: Spot iron ore prices were on course for a third weekly gain in four after scaling a 3-1/2-month high as firmer steel prices in top market China supported appetite for the raw material. Higher iron ore futures in China suggest further increases for spot prices that have risen nearly 42 percent this year to be among the best performing commodities."The mills are enjoying good profits so they have incentive to buy raw material and ...

Markets - Commodities - Americas

Soybeans ease 2nd day on US harvest outlook, corn at 3-week top SINGAPORE: Chicago soybeans slid for a second session on Friday as the market was weighed down by prospects of an all-time high US crop, while corn was little changed after hitting a three-week top on a short-covering bounce.The US Department of Agriculture (USDA) has forecast record large soybean and corn harvests.Last week, the agency pegged the corn crop at 15.153 billion bushels, based on an average yield of 175.1 bushels per acre, while the soybean ...

Markets - Commodities - Americas

CBOT corn may rise towards $3.44-1/2 SINGAPORE: CBOT December corn may break a resistance at $3.42-1/2 per bushel and rise more towards the next resistance at $3.44-1/2, driven by a wave c.These resistances are provided respectively by the 50 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.At most, this wave may travel to $3.51, the 100 percent level. At least, it could ...

Markets - Commodities - Asia

Palm set for 3rd weekly gain on tight supplies, firm exports KUALA LUMPUR: Malaysian palm oil futures rose on Friday and were on track to post their third consecutive weekly gain, boosted by tight supplies and expectations of better exports.Benchmark palm oil futures for November on the Bursa Malaysia Derivatives Exchange rose 1.6 percent to 2,616 ringgit ($653) per tonne by midday, after dropping more than 2 percent in the previous session. Traded volumes stood at 25,140 lots of 25 tonnes each at noon.For the week, ...