Americas
Friday, 24 May 2013 03:39
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CHICAGO: US soybean prices rose for a sixth consecutive session on Thursday and struck an eight-month high as the dwindling cash supply left from the drought-plagued 2012 harvest sparked commercial buying in futures.Chicago Board of Trade wheat futures leaped more than 2 percent, advancing for the second day in a row, with a falling dollar and technical buying boosting prices, traders said.Corn also firmed on thin US old-crop supplies and spillover support from soybeans.All three markets drew support from stronger-than-expected export sales in the US Department of Agriculture's (USDA) weekly export sales report on Thursday.Soybean futures continued a recent uptrend as a port strike in major exporter Argentina increased the focus on the tight short-term supply of the oilseed.The strike, and lengthy vessel backups at other South American ports, raised concerns that some global demand could shift to the United States where supplies were forecast to shrink to a nine-year ...
NEW YORK: Cotton futures fell to the lowest level since late January on Thursday, on technically-driven selling, worries over a potential slowdown in top consumer China, and easing supply concerns in the United States, the world's top exporter.The most-active July cotton contract on ICE Futures US fell 1.64 cents, or 2 percent, to settle at 81.78 cents per pound.Earlier, the contract dropped as low as 81.52 cents a lb after breaching key technical support and ...
NEW YORK: Gold rose sharply on Thursday as investors sought its safe-haven status after the dollar and equity markets were hit by a slew of weak manufacturing data that indicated stagnant global economic growth.Stock markets around the world fell, extending the previous day's sharp losses, on concerns about global economic growth and the timing of the ending of the US Federal Reserve's stimulus program."The combination of the weaker dollar and the drop in equities markets ...
WINNIPEG: ICE Canada canola futures fell on Thursday, under pressure from lower crude oil and equity markets, and in a correction after a steady run higher in recent sessions.Steady planting progress in Western Canada also seen pressuring the market.New York crude oil futures, which influence canola because of its use in biofuel, were down nearly 2 percent in a broad commodities selloff as a decline in China's factory activity entrenched concerns about weak demand.July canola ...
CHICAGO: US corn futures dropped 1.5 percent, to their lowest since early April, on Tuesday as investors unwound bull spreads following a record planting pace last week that encouraged farmers to sell some old-crop supplies to ease cash market tightness, traders said.A surge in corn planting progress during the past week eased farmer concerns about needing to hold onto supplies held in storage bins since last fall's harvest. That relieved some pressure that supported old-crop ...
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