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ICE cotton rises to 5-month high on weaker dollar, speculator buying NEW YORK: ICE cotton rose to a more than five-month high on Wednesday, boosted by a falling dollar and rising oil prices as speculators continued buying long positions amid low certificated exchange stock levels.The most-active May cotton contract on ICE Futures U.S. rose 0.64 cent, or 1 percent, to settle at 65.55 cents a lb, after rising as high as 65.91 cents earlier in the session, the highest level for the second-month contract since Sept. 17.The dollar fell against a basket of currencies on Wednesday, after Federal Reserve Chair Janet Yellen told Congress the U.S. Central Bank would not rush into raising interest rates.A weaker dollar boosts greenback-traded commodities by making them less expensive to holders of other currencies.Wednesday's gains were fueled by further speculator buying, traders said, building on Tuesday's gains after three straight sessions of modest losses prompted them to re-enter the market."If the specs really want to ...

Raw sugar climbs up from 5-year low, March/May spread flattens NEW YORK/LONDON: Raw sugar futures on ICE turned up from a 5-year low in heavy volume, changing direction on short-covering that nearly eradicated the spot contract's premium ahead of Friday's expiry.New York cocoa futures rose for the 15th straight session, breaching key technical levels to reach a four-month high. Arabica coffee on ICE turned higher in thin dealings after nudging down to a one-year low.ICE May raw sugar futures closed up 0.02 cent, or 0.1 ...
ICE cotton rises on speculator buying, low exchange stock levels NEW YORK: ICE cotton rose on Tuesday as speculators re-entered the market after three straight sessions of losses, boosted by low certificated stock levels during the March contract's notice period and gains in outside markets.The most-active May cotton contract on ICE Futures U.S. rose 0.71 cent, or 1.1 percent, to settle at 64.91 cents a lb.The price had fallen in the previous session, as speculators took profits while the market was still near the five-month ...
Gold hits 7-week low, then pares losses after Yellen testimony NEW YORK/LONDON: Gold fell to a seven-week low on Tuesday then pared losses after Federal Reserve Chair Janet Yellen said the central bank is preparing to consider interest rate hikes on a "meeting-by-meeting basis."Yellen said the Fed's rate-setting policy committee will likely first remove the word "patient" in describing its approach to rate hikes, then enter a phase in which rate hikes are possible at any meeting.Spot gold initially fell about 0.8 percent to a ...
US soybeans rise to 6-week high on Brazil, weather woes CHICAGO: Chicago Board of Trade soybeans soared to a six-week high on Tuesday on the potential for increased US demand as world buyers worry about supply disruptions in Brazil due a trucker strike and rains stalling harvest, traders said.Additional support stemmed from a tight supply of soybeans at US Gulf export terminal as icy US Midwest rivers after a week of frigid temperatures slowed barges headed to US Gulf export terminals.Corn and wheat gained too, ...
US corn, wheat slide to near 3-week lows as dollar rises CHICAGO: US wheat and corn futures fell to near three-week lows on Monday as a strong dollar loomed over export demand along with aggressive competition from overseas suppliers, traders said.Soybeans, which have been underpinned by a tug-of-war for nearby supplies between processors and exporters, turned lower by midday Monday. The soy market was pressured by the selloff in grains and as the US Department of Agriculture reported weekly soy export inspections below a million tonnes ...
Raw sugar at 2010 low as March premium jumps ahead of expiry NEW YORK/LONDON: Chart-based selling pushed raw sugar futures on ICE to the lowest in nearly five years on Monday, but the premium of the spot contract surged to the highest since November 2013 with expectations for a small March delivery.Arabica coffee futures dropped 3 percent to a one-year low, having wiped out the weather premium placed in the market a year ago when a drought hurt the crop in top grower Brazil. New York cocoa ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
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