08282016Sun
Last update: Sun, 28 Aug 2016 10am

Americas

Markets - Commodities - Americas

CBOT corn may drop to $3.40-1/2 SINGAPORE: CBOT December corn may drop to a support at $3.40-1/2, as it failed to break a resistance at $3.44-1/2 per bushel.The support and the resistance are provided respectively by the 38.2 percent and the 61.8 percent Fibonacci projection levels of an upward wave c, the third wave of a three-wave cycle from the Aug. 12 low of $3.22-1/2.In addition to its failure to overcome the barrier at $3.44-1/2, corn has started a correction, which has extended below the support at $3.42-1/2, the 50 percent level. The next support will be at $3.40-1/2.A break above $3.42-1/2, now a resistance, could lead to a gain to $3.44-1/2.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

US Cash Soymeal-Offers mostly flat; supplies remain tight CHICAGO: Spot basis offers for soymeal held steady at most processors serving both the rail and truck markets on Friday, dealers said.Demand was routine.Tight supplies of soymeal, stemming from a slowdown in the amount of soybeans available for crushing, underpinned prices, a Minnesota broker said.Although the interior basis was mostly steady, offers rose by $1 per ton in Mankato, Minnesota.On the export front, CIF and FOB offers for soymeal shipped by barge weakened for supplies ...

Markets - Commodities - Americas

US Cash Grains-Corn, soy basis bids mostly unchanged CHICAGO: Most spot corn and soybean basis bids on Friday at elevators and processors around the US Midwest held steady on light farmer sales as corn futures gained slightly and soybean futures slipped in weekend positioning, merchants said.Chicago Board of Trade corn garnered modest short-covering support that was limited by sentiment that traders may have already factored in a potentially huge big corn harvest.Expectations of a record bean crop weighed on the soybean futures at ...

Markets - Commodities - Americas

Soybeans ease 2nd day on US harvest outlook, corn at 3-week top SINGAPORE: Chicago soybeans slid for a second session on Friday as the market was weighed down by prospects of an all-time high US crop, while corn was little changed after hitting a three-week top on a short-covering bounce.The US Department of Agriculture (USDA) has forecast record large soybean and corn harvests.Last week, the agency pegged the corn crop at 15.153 billion bushels, based on an average yield of 175.1 bushels per acre, while the soybean ...

Markets - Commodities - Americas

CBOT corn may rise towards $3.44-1/2 SINGAPORE: CBOT December corn may break a resistance at $3.42-1/2 per bushel and rise more towards the next resistance at $3.44-1/2, driven by a wave c.These resistances are provided respectively by the 50 percent and the 61.8 percent Fibonacci projection levels of an upward wave c, the third wave of a three-wave cycle from the Aug. 12 low of $3.22-1/2.At most, this wave may travel to $3.51, the 100 percent level. At least, it could ...

Markets - Commodities - Americas

CBOT wheat to break resistance at $4.27-1/2 SINGAPORE: CBOT September wheat is expected to break a resistance at $4.27-1/2 per bushel, and rise into a range of $4.30-1/4 to $4.34-1/4, driven by a wave C.The resistance is provided by the 76.4 percent Fibonacci projection level of the wave C, the third wave of a three-wave cycle from the Aug. 2 low of $3.99-1/4. This wave is capable of travelling to $4.34-1/4, the 100 percent level.Wheat failed three times to break the resistance, ...

Markets - Commodities - Americas

US Cash Grains-Corn, soy basis bids steady on light farmer sales CHICAGO: Corn and soybean spot basis bids at elevators and processors around the Midwest were unchanged on Thursday after corn and soybean futures moved up from session lows, minimizing farmer sales, dealers said.Short-covering and technical buying later lifted Chicago Board of Trade soybeans. Corn landed in positive territory by day's end on consolidation after recovering from seven-year lows last Friday.Corn and soybean basis bids at a western Midwest river terminal decline 2 cents per bushel ...