04292016Fri
Last update: Fri, 29 Apr 2016 05pm

Markets - Commodities

Markets - Commodities - Americas

CBOT soybeans to hover above $9.76-3/4 SINGAPORE: CBOT soybeans May contract seems to have found a support at $9.76-3/4 per bushel and may hover above this level or bounce towards a resistance at $9.92-1/2.The support and the resistance are identified respectively as the 114.6 percent and the 138.2 percent Fibonacci projection levels of an upward wave c, the third wave of a three-wave cycle from the March 2 low of $8.56.The fall from the April 21 high of $10.34-3/4 has not completed, as it may extend to $9.66-1/4, the 38.2 percent Fibonacci retracement on the rise from $8.56 to $10.33-1/2.A break below $9.76-3/4 could confirm a continuation of the fall towards $9.66-1/4.Copyright Reuters, 2016

Markets - Commodities - Americas

CBOT corn to fall more to $3.66-3/4 SINGAPORE: CBOT corn is expected to fall more to $3.66-3/4 per bushel, as it has cleared a support at $3.73-1/2.The support was identified as the 61.8 percent Fibonacci retracement on the uptrend from the April 11 low of $3.56 to the April 21 high of $4.02.The next support is at $3.66-3/4, the 76.4 percent level, around which corn may end its current fall, as this support is strengthened by a similar one established by the ...

Markets - Commodities - Americas

CBOT wheat to hover above $4.65-3/4 SINGAPORE: CBOT wheat has found a support at $4.65-3/4 per bushel and may hover above this level or bounce towards a resistance at $4.75-3/4.The support is provided by the 23.6 percent Fibonacci retracement on the downtrend from the Oct. 7, 2015 high of $5.42-3/4 to the March 2 low of $4.42-1/4, and the resistance by the 23.6 percent Fibonacci retracement on the fall from the April 21 high of $5.10-3/4 to the April 22 low ...

Markets - Commodities - Americas

NY sugar to test support at 15.05 cents SINGAPORE: New York sugar is expected to test a support at 15.05 cents per lb, a break below which could cause a loss to the next support at 14.65 cents.These supports are identified respectively as the 38.2 percent and the 23.6 percent Fibonacci retracements on the fall from the March 23 high of 16.75 cents to the April 13 low of 14.00 cents.The bounce from 14.00 cents could have completed, or its first leg has ...

Markets - Commodities - Americas

NY coffee may test resistance at $1.2465 SINGAPORE: New York July coffee may test a resistance at $1.2465, as it has stabilised around a support at $1.2265 per lb.The support and the resistance are identified respectively as the 50 percent and the 38.2 percent Fibonacci projection levels of a downward wave c, the third wave of a three-wave cycle from the March 23 high of $1.3820.A break above $1.2465 could open the way towards the 23.6 percent level at $1.2720, while a ...

Markets - Commodities - Middle East & Africa

Egypt buys 57,000 tonnes of local wheat since start of season ABU DHABI: Egypt's Supply Ministry said on Sunday it had purchased 57,000 tonnes of local wheat from farmers since the start of the season on April 15. Egypt, the world's largest wheat importer, is planning to buy 4 million tonnes of Egyptian wheat in the local season which started on Friday. Farmers are being paid a fixed price of 420 Egyptian pounds ($47.30) per ardeb (150 kg) of wheat after abandoning plans to pay farmers ...

Markets - Commodities - Americas

CBOT wheat posts biggest one-day decline in three years CHICAGO: Chicago Board of Trade wheat futures plunged nearly 6 percent on Friday on technical selling and profit-taking a day after the spot May contract reached a 5-1/2-month high, traders said.* Declines in CBOT soybean and corn futures added pressure.* CBOT May wheat settled at $4.67 per bushel, down 28-3/4 cents or 5.8 percent, the biggest one-day decline for front-month wheat on a continuous chart since March 2013.* K.C. hard red winter wheat and MGEX ...