07242016Sun
Last update: Sun, 24 Jul 2016 01pm

Americas

Markets - Commodities - Americas

Gold cuts gains on dollar strength after US data NEW YORK/LONDON: Gold cut some earlier gains on Tuesday, as the dollar hit a four-month high after data showed a surge in US housing starts in June, although weaker equities provided support.US homes surged 4.8 percent to a seasonally adjusted annual pace of 1.19 million units, the Commerce Department said on Tuesday.The recent rally in global equity prices faltered as investors pondered some disappointing earnings reports and signs that Britain's decision to leave the EU could hurt other economies.Spot gold was up 0.2 percent at $1,331.10 an ounce by 3:25 p.m. EDT (1925 GMT), off a session high of $1,334.88. US gold settled up 0.2 percent at $1,332.3 per ounce.Gold has risen almost 25 percent this year, hitting its highest since March 2014 at $1,374.71 after Britain's vote on the EU.Prices have since retreated, hit by a series of positive US economic data."We saw better economic data coming out of ...

Markets - Commodities - Americas

US Cash Grains-Corn, soybean basis bids steady/firm as future's fall CHICAGO: Corn and soybean spot basis bids at elevators and processors around the US Midwest on Tuesday were steady to firm on minimal farmer sales following the pullback in futures prices for both grains, merchants said.Chicago Board of Trade corn and soybeans stumbled on forecasts for moderating temperatures next week on the heels of a hot spell over the weekend.Prolonged periods of extreme heat and insufficient moisture typically can stress crops and hurt yields in ...

Markets - Commodities - Americas

Corn, soy prices tumble on strong US crop ratings CHICAGO: US corn and soybean futures slid more than 3 percent on Tuesday, pressured by historically high crop ratings and forecasts for moderating temperatures next week, analysts said.Wheat also declined, following the weak trend.At the Chicago Board of Trade, most-active December corn settled down 14-3/4 cents at $3.48-1/2 a bushel. New-crop November soybeans ended down 38-1/2 cents at $10.27-3/4 per bushel after hitting a one-week low at $10.23.September wheat settled down 11-1/2 cents at $4.18 ...

Markets - Commodities - Americas

NY cocoa to test support at $3,036 SINGAPORE: New York September cocoa is expected to test a support at $3,036 per tonne, as it has cleared a support at $3,061.These supports are identified respectively as the 61.8 percent and the 50 percent Fibonacci retracements on the uptrend from the June 30 low of $2,956 to the July 15 high of $3,166.The bears could have gained a strong bearish momentum on the fall from $3,166. The fall may at least extend to $3,036, ...

Markets - Commodities - Americas

CBOT wheat may stabilise around $4.24-1/2 before rising SINGAPORE: CBOT Sept. wheat may stabilise around a support at $4.24-1/2 per bushel, before resuming its rally towards a resistance at $4.29-1/2, as suggested by its wave pattern and a Fibonacci retracement analysis.The bounce from the July 5 low of $4.15-3/4 is against the downtrend from the June 8 high of $5.33-3/4. It consists of three waves, with the third wave labeled C having just started.A Fibonacci retracement analysis on the rise from $4.15-3/4 to ...

Markets - Commodities - Americas

CBOT corn may retest resistance at $3.63 SINGAPORE: CBOT Dec. corn may retest a resistance at $3.63 per bushel, a break above which could lead to a gain into a range of $3.67-$3.71.For a chart: http://tmsnrt.rs/29JWK62The bounce from the July 6 low of $3.46 has not completed, as it is against the downtrend from the June 17 high of $4.49 and may consist of three waves. The third wave labelled c has just started.This wave is capable of travelling to $3.71, its ...

Markets - Commodities - Americas

Unexpected moderate frost hits Brazil central coffee belt SAO PAULO: A moderate frost surprised producers in several areas of Brazil's main coffee belt early Monday morning, where it is likely to trim the country's output in 2017, agricultural engineer Andre Alvarenga at Procafe analysts said on Monday. The degree to which the frost damaged trees, which are highly vulnerable to freezing temperatures, will only be known in the coming few days, Alvarenga said.But he said he expects some areas to suffer damages from ...