01252017Wed
Last update: Wed, 25 Jan 2017 12am

Americas

Markets - Commodities - Americas

CBOT wheat may rise into $4.31 to $4.33-1/4 range SINGAPORE: CBOT March wheat may rise more into the range of $4.31 to $4.33-1/4 per bushel, as it has broken a resistance at $4.25-1/2.The resistance was provided by the 61.8 percent Fibonacci retracement of the drop from the Oct. 14, 2016 high of $4.45-3/4 to the Dec. 1, 2016 low of $3.93. Based on this retracement analysis, wheat may gain more to $4.33-1/4.However, the rally seems to be controlled also by a set of Fibonacci projection levels of an upward wave c from the Dec. 23, 2016 low of $3.92-3/4. The 123.6 percent level works as a temporary resistance to prevent wheat from rising further.Strategically, the target zone of $4.31 to $4.33-1/4 will be confirmed when wheat breaks above $4.27. A further correction from the current level may be limited to $4.24-1/2.Copyright Reuters, 2017 ...

Markets - Commodities - Americas

Wheat rises near six-week high; corn extends winning streak CHICAGO: US wheat futures rose to their highest in nearly six weeks on Thursday on a round of short-covering after weakening overnight, traders said. Corn also firmed, with strength in wheat lending support to the yellow grain while soybeans eased on a round of profit taking. Wheat was on track for its fourth day of gains in five sessions, a rally that has been fuelled by speculative buying despite a glut of supplies both globally ...

Markets - Commodities - Americas

US Cash Soymeal-Basis offers hit 4-year lows in Indiana, Minnesota CHICAGO: Spot basis offers for soymeal extended losses in some US truck markets on Thursday, weighed down by ample supplies and relatively lackluster demand for the animal feed, dealers said.The basis declined by $2 per ton at a processor in Decatur, Indiana. The $3 premium to Chicago Board of Trade March soymeal futures was the lowest basis for the processor since May 2012. Offers also eased by $1 in Minnesota, with the basis there also ...

Markets - Commodities - Americas

Gold hits near 4-week high as dollar retreats, demand surges NEW YORK/LONDON: Gold rose to the highest in nearly four weeks on Wednesday as the dollar edged back from a 14-year peak and physical demand from major consumers China and India increased.Spot gold climbed to its highest since Dec. 9 at $1,167.83 an ounce and was up 0.2 percent at $1,161.2 by 2:49 p.m. EST (1949 GMT).US gold futures settled up 0.3 percent at $1,165.30."The dollar index has consolidated and the big outflow from exchange-traded ...

Markets - Commodities - Americas

Soybeans rally on bargain buying; corn, wheat also firm CHICAGO: US soybean futures rose 1.4 percent on Wednesday on a round of bargain buying following three straight days of declines that pushed the benchmark contract to its lowest since mid-November, traders said.Corn futures also rose, on track to extend their three-session winning streak as investors staked out positions ahead of annual rebalancing by commodity index funds. Wheat firmed on support from worsening crop conditions. An easing in the dollar, after Tuesday's 14-year high, lent ...

Markets - Commodities - Americas

US Cash Grains-Corn, soy basis bids mostly steady as sales stay light CHICAGO: Spot basis bids for corn and soybeans were steady to narrowly mixed in the US Midwest on Wednesday, underpinned by a slow pace of farmer sales, grain merchants said.Futures for both crops rallied 1 percent or more at the Chicago Board of Trade, lifted by index fund buying, but many farmers were delaying sales in the hopes of even higher prices before selling supplies out of on-farm storage bins.Corn bids had a firm tone ...

Markets - Commodities - Americas

CBOT Trends-Wheat steady-up 1 cent, corn up 1-2, soybeans up 3-4 CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Wednesday. WHEAT - Steady to up 1 cent per bushel Nearby contracts firm but choppy in early moves. CBOT losing relative to K.C. hard red winter wheat futures after monthly state crop reports from the US Department of Agriculture late Tuesday showed a decline in ...