07292016Fri
Last update: Fri, 29 Jul 2016 09am

Americas

Markets - Commodities - Americas

CBOT wheat may retest support at $4.06-1/2 SINGAPORE: CBOT Sept. wheat may retest a support at $4.06-1/2 per bushel, as it could have completed a bounce caused by this level.The support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the June 8 high of $5.33-3/4.This wave may have resumed, after the bounce from the July 20 low of $4.06-1/2 failed to extend above the 14.6 percent level at $4.34-1/2. Confirmation on the resumption of the wave C has been given by a break below the trendline falling from $5.33-3/4.Resistance is at $4.23-3/4, the 23.6 percent level, a break above which could lead to a gain towards $4.34-1/2.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

Brazil 2016/17 soy area should grow modestly SAO PAULO: The area planted with soy in Brazil in 2016/17 should grow 2 percent to 33.8 million hectares as some farmers favor corn, Chicago-based analysts AGR Brasil told Reuters on Tuesday.Brazil is facing a corn shortage, driving local prices up to record highs and changing a trend of farmers favoring soybeans in recent years.Soy planting will start in late September but farmers need to finalize their decisions now."The increase in summer corn, in our ...

Markets - Commodities - Americas

US wheat tumbles on ample supplies, Euronext declines CHICAGO: Chicago Board of Trade wheat futures plunged as much as 3 percent on Tuesday, heading for their largest daily losses in three weeks on pressure from ample global grain supplies and following declines in Euronext wheat, traders said. Wheat on the Paris exchange was heading for its second straight session of steep losses, correcting after hitting the highest levels since January on Monday. Reduced estimates for the harvest in the top exporting region of ...

Markets - Commodities - Americas

Sugar falls after 3 days of gains, cocoa at new lows NEW YORK/LONDON: Raw sugar futures fell for the first time in four sessions on Tuesday, giving back the prior session's rally on pressure from earlier weakness in larger commodity markets, while cocoa slightly extended losses to multi-week lows.Arabica coffee was little changed in choppy dealings.Raw sugar dropped as the Thomson Reuters CoreCommodiy Index fell for the eighth straight session and reached a 2-1/2-month low."Overall the commodity basket is weak and particularly energy is trending lower ...

Markets - Commodities - Americas

Raw sugar rises after US data; arabica at 4-week low NEW YORK/LONDON: Raw sugar futures rallied on Monday after US data showed speculators trimmed their bullish position for the fourth straight week and as traders focused on a looming production deficit, while arabica coffee fell to a four-week low.London cocoa prices extended losses on pressure from the firm pound, briefly touching a three-week low while the New York market held just above the prior session's 3-1/2-month low, as global demand concerns remained.Bucking the weak session ...

Markets - Commodities - Americas

CBOT soybeans fall to 3-month low on fund sales, weather CHICAGO: Chicago Board of Trade soybean futures fell more than 2 percent to their lowest levels since April on Monday, pressured by favorable extended forecasts for the developing crop in the United States, traders said.Liquidation from investment funds, which still had a net long stake in soybeans, further weighed on prices.August is seen as the most critical month for determining soybean yields for the US crop and extended weather outlooks reaching into August indicated at ...

Markets - Commodities - Americas

Gold pares losses as stocks turn lower ahead of Fed, BoJ meetings NEW YORK/LONDON: Gold pared losses on Monday as the dollar and world stock markets turned lower ahead of central bank meetings in the United States and Japan.The world's major economies pledged at a G20 meeting over the weekend, dominated by Britain's vote last month to leave the European Union, to use all policy tools available to boost growth. That lifted both shares and the dollar earlier in the session.Spot gold was down 0.2 percent at ...