06262016Sun
Last update: Sun, 26 Jun 2016 10pm

Americas

Markets - Commodities - Americas

US Cash Soymeal-Offers mostly steady in light dealings CHICAGO: Spot basis offers for US soymeal held mostly steady on Friday in light dealings in the physical market amid turmoil in futures following Britain's referendum to exit the European Union, dealers said. Chicago Board of Trade soymeal futures extended losses to a one-month low, and were on pace to decline 7.8 percent this week in what would be the largest losses since January 2015. Soymeal futures eased in a broad commodities selloff following the Brexit referendum. Many livestock and poultry producers already have covered immediate feed needs and delayed new purchases. Basis offers fell by $5 per ton in Frankfort, Indiana, and were roughly unchanged elsewhere. The National Oilseed Processors Association (NOPA) revised its May monthly soybean crushings and processing data. The revision was due to corrected information reported to the trade group following the release of the May report, NOPA said.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

London cocoa rallies to 5-year high as pound drops; coffee slides NEW YORK/LONDON: Sterling-based London cocoa futures on ICE jumped to a 2011 high while dollar-based US cocoa saw its biggest one-day slump in more than five years on Friday, as sterling plunged to a 31-year low after Britons voted to leave the European Union.Raw sugar and arabica coffee futures slid, pressured by the strengthening dollar, falls in other commodity markets and political and economic uncertainty.The British sterling slumped by as much as 11 percent to ...

Markets - Commodities - Americas

Gold soars with dollar, oil shudders after Brexit NEW YORK/LONDON: Gold clocked up its biggest daily gain since the 2008 financial crisis on Friday as Britain's vote to leave the European Union spread political uncertainty and economic growth concerns, hitting industrial commodities such as oil and copper. The 52 percent backing for leaving the 28-member bloc created the biggest global shock since the 2008 financial and economic crisis. The result reverberated worldwide, prompting more investors to park their cash in the safety of ...

Markets - Commodities - Americas

Chile's Codelco to decide on partner for lithium development in 2017 SANTIAGO: The world's No. 1 copper producer Codelco is expected to make its decision on who to partner with to develop its lithium assets in the first quarter of next year, Chile's Mining Minister Aurora Williams told Reuters on Thursday.Lithium is an important ingredient in rechargeable batteries and is used in electric cars. Annual demand for lithium is forecast to more than double by 2020 from 95,000 tonnes now.Most lithium is produced in Australia and ...

Markets - Commodities - Americas

CBOT Trends-Wheat up 1-2 cents, corn down 4-6, soybeans down 6-11 CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Thursday. NOTE: Friday is the last trading day for CBOT July options. WHEAT - Up 1 to 2 cents per bushel Higher on short-covering and bargain buying after recent declines, with spot K.C. hard red winter wheat hovering near a 10-year low. Weaker dollar lends support, making ...

Markets - Commodities - Americas

CBOT corn still targets $3.84-3/4 SINGAPORE: CBOT July corn still targets $3.84-3/4 per bushel, as suggested by a Fibonacci retracement analysis.The contract is riding on a wave 5, the fifth wave of a five-wave cycle from the June 17 high of $4.38-1/4. This wave has travelled below a support at $3.95-1/4, the 50 percent Fibonacci retracement on the rise from the April 1 low of $3.51-1/4 to the June 8 high of $4.39-1/4. Chances are it may extend to $3.84-3/4, ...

Markets - Commodities - Americas

CBOT wheat to test support at $4.56-3/4 SINGAPORE: CBOT July wheat is expected to test a support at $4.56-3/4 per bushel, a break below which could cause a loss to the next support at $4.54.The contract is riding on a wave 5, the fifth wave of a five-wave cycle from $4.79-3/4, which is an hourly chart high touched on June 20.Even though it is generally difficult to pinpoint the exact bottom of the fifth wave, a trendline does suggest a range of ...