02082016Mon
Last update: Mon, 08 Feb 2016 12pm

Americas

Markets - Commodities - Americas

US cotton farmers seen boosting acreage 6.2pc this year NEW YORK: US cotton farmers are expected to boost acreage by 6.2 percent this year as weak market prices for competing crops including corn and soybeans lead them to devote more area to the fiber, an industry group concluded after a survey.The National Cotton Council, or NCC, expects plantings in the world's biggest exporter to rise to 9.1 million acres (3.7 million hectares) in 2016, slightly lower than median expectations of 9.7 million acres (3.9 million hectares) according to a Reuters poll.Last year, farmers planted 8.6 million acres (3.5 million hectares) of cotton, the NCC said. That was the lowest level since 1983, according to U.S. government data. With an abandonment rate of 11 percent, just 8.1 million acres (3.3 million hectares) were harvested last year, the NCC said.The NCC survey, widely watched as one of the earliest indicators of the next season's production, is based on a questionnaire mailed ...

Markets - Commodities - Americas

Wheat falls on poor US export data; corn, soy also weak CHICAGO: Wheat futures on the Chicago Board of Trade fell 1.5 percent on Thursday on disappointing US export sales data, traders said.Corn and soybeans also fell, retreating from six-week highs set this week, on improving crop prospects in South America.At the CBOT, March wheat settled down 7-1/4 cents at $4.72-3/4 per bushel. March corn ended down 2-1/2 cents at $3.68-1/2 per bushel and March soybeans fell 2-1/4 cents at $8.74-1/2 a bushel.Wheat fell after the ...

Markets - Commodities - Americas

Gold rallies to 3-month high as investors shun risky assets NEW YORK/LONDON: Gold hit three-month highs on Wednesday, buoyed by a slower US services sector and sinking dollar, prompting investors to seek shelter in assets perceived as safer as future Fed rate hikes appeared less likely.U.S. services sector activity slowed to a near two-year low in January, suggesting that economic growth weakened further at the start of the first quarter."Dollar weakness and the poor ISM number are the primary drivers this afternoon," said Mark O'Byrne, ...

Markets - Commodities - Americas

Soy, corn ease from 6-week highs on outlook for Argentine rains CHICAGO: US and soybeans futures fell on Wednesday, pressured by profit-taking after recent six-week highs and outlooks for needed rains in South America.Wheat was narrowly higher at the Chicago Board of Trade as a more than 1 percent drop in the dollar against a basket of currencies made U.S. supplies more attractive in global markets.Overall ample world wheat supplies limited gains as wheat futures traded within the range established on Tuesday. Traders reacted cautiously to ...

Markets - Commodities - Americas

NY cocoa surges with focus on Ivorian mid-crop development NEW YORK/ LONDON: New York cocoa futures rallied on Wednesday in heavy yo-yo dealings after bouncing up from last week's 10-month low as West African cocoa farms face the worst Harmattan wind in decades.Sugar turned lower on ample Brazil supply expectations and coffee prices inched higher.March New York cocoa settled up $76, or 2.8 percent, at $2,837 per tonne, after rising to $2,854 and trading within another wide range of more than $100. This volatile ...

Markets - Commodities - Americas

Soybeans up as fund short-covering lifts grain/soy complex CHICAGO: US soybean and corn futures climbed to six-week highs on Tuesday on fund-driven buying as the grain complex shrugged off weakness in global equity markets and crude oil, traders said.Wheat futures also firmed. But all three commodities pared gains by midsession.At the Chicago Board of Trade as of 12:12 p.m CST (1812 GMT), the March soybean contract was up 4-1/2 cents at $8.85-1/4 per bushel after reaching $8.89-1/2, its highest since Dec. 22.March corn ...

Markets - Commodities - Americas

Cocoa prices resume slide, sugar rebounds above 4-month low NEW YORK/LONDON: Cocoa futures fell hard on Tuesday, switching back onto the defensive in a volatile correction after the prior session's short-covering rally, while coffee prices rose and raw sugar futures rallied in a late-day buying spree after falling to a four-month low.March New York cocoa settled down $107, or 3.7 percent, at $2,761 per tonne, after making its biggest rally in 3-1/2 years on Monday."Yesterday was an exceptional move but at the moment it ...