05052016Thu
Last update: Thu, 05 May 2016 03pm

Americas

Markets - Commodities - Americas

Gold falls further away from 15-month high as dollar climbs NEW YORK/LONDON: Gold fell 1 percent on Wednesday, falling further away from a 15-month high on pressure from the strong U.S. dollar, which retreated from recent lows against the yen and euro as U.S. trade and factory order data eased some worries.Spot gold was down 1 percent at $1,272.66 an ounce at 2:29 p.m. EDT (1829 GMT), extending losses below Monday's 15-month high above $1,300.The U.S. futures contract for June delivery settled down 1.3 percent at $1,274.40 an ounce."It's a lot of dollar strength," said Anthem Blanchard, chief executive of Anthem Vault, precious metals dealer in Austin, Texas."You have people running to Treasuries because of Fed speak. We're not really sure what the Fed is intending to do."Atlanta Fed President Dennis Lockhart said on Tuesday the United States could see two more interest rate rises this year, while San Francisco Fed President John Williams said he would support a rate ...

Markets - Commodities - Americas

Raw sugar at 1-1/2-year top on poor crop prospects in India NEW YORK/LONDON: Raw sugar futures on ICE jumped to a 1-1/2-year high on Wednesday as poor crop prospects in India, the world's second-biggest producer, were only partially offset by the strong start to the harvest in top grower Brazil.Cocoa futures fell from technically overbought levels, with the market's strong run-up appearing to have at least temporarily run out of steam and the New York market pressured by the weak British pound. Coffee futures were slightly ...

Markets - Commodities - Americas

US soy, wheat firm on bargain buying, technical support CHICAGO: US wheat and soybeans firmed on Wednesday, reversing overnight losses, on technical buying and a mild round of short-covering, traders said. Corn futures held steady, with buyers wary of pushing prices higher amid a swift pace of planting in the US Midwest. Sharp declines on Tuesday caused investors to step in and cover bearish bets despite a bleak fundamental picture for all three commodities that kept Wednesday's gains in check. "I think it is ...

Markets - Commodities - Americas

US Cash Soymeal-Offers flat as demand picks up CHICAGO: Spot basis offers for US soymeal were unchanged across the rail and truck market on Wednesday, dealers said.End user demand was picking up as livestock and poultry producers booked deals to take advantage of weakness in the futures market during the past few days.Demand remained light on the futures market, a trader said.But offers for delivery by barge to the US Gulf held steady on both a CIF and FOB basis due to tight ...

Markets - Commodities - Americas

CBOT Trends-Corn down 2-3 cents, soy down 3-6 cents, wheat steady-down 2 cents 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 Wednesday. WHEAT - Steady to down 2 cents per bushel Pressured by burgeoning expectations for the US winter wheat harvest. Ample supplies, highlighted by heavy deliveries against expiring contracts, also weigh. But prices for benchmark CBOT July soft red winter wheat contract found support near Tuesday's low ...

Markets - Commodities - Americas

CBOT soybeans may fall to $10.11 SINGAPORE: CBOT soybeans July contract may fall to $10.11 per bushel, as it has cleared a support at $10.28-1/2.A five-wave cycle from the March 2 low of $8.62 has completed at the May 3 high of $10.57. A Fibonacci retracement analysis on the cycle reveals the contract has broken the support at $10.28-1/2, the 14.6 percent level.The next support will be at $10.11, the 23.6 percent level, a break below which could open the way ...

Markets - Commodities - Americas

CBOT corn may drop to $3.73-1/4 SINGAPORE: CBOT July corn may drop to $3.73-1/4 per bushel, driven by a wave C.This is the third wave of a five-wave cycle from the April 21 high of $4.07-1/4. A Fibonacci projection analysis reveals this wave may travel to $3.60, its 100 percent projection level.A more realistic target could be $3.73-1/4, the 61.8 percent level, a break below which could cause a loss to the 76.4 percent level at $3.68-1/4.Resistance is at $3.81-3/4, the ...