05052016Thu
Last update: Thu, 05 May 2016 03pm

Americas

Markets - Commodities - Americas

CBOT wheat may drop more into $4.75 to $4.79-1/2 range SINGAPORE: CBOT July wheat may drop more into a range of $4.75 to $4.79-1/2 per bushel, as indicated by its wave pattern and a Fibonacci retracement analysis.A bounce from the April 25 low of $4.68-1/2 has completed, as it could be divided into five small waves. The drop from the April 28 high of $4.97 seems to be an extension of the downtrend from the April 21 high of $5.18-1/2.The Fibonacci retracement analysis on the bounce reveals the target zone formed by the 76.4 percent and the 61.8 percent levels. A break above $4.86, the 38.2 percent level, could lead to a gain to the 23.6 percent level at $4.90-1/4.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

NY sugar may fall to 15.05 cents SINGAPORE: New York sugar may fall to 15.05 per lb, as it has cleared a support at 15.38 cents.The support was provided by the 50 percent Fibonacci retracement on the fall from the March 23 high of 16.75 cents to April 13 low of 14.00 cents.The next support will be at 15.05 cents, the 38.2 percent retracement. A break below which could cause a loss towards the 23.6 percent level at 14.65 cents.A surge above ...

Markets - Commodities - Americas

NY coffee to test resistance at $1.2265 SINGAPORE: New York July coffee may test a resistance at $1.2265 per lb, as it has failed to break a support at $1.2065.The support is provided by the 61.8 percent Fibonacci projection level of a downward wave c, the third wave of a three-wave cycle from the March 23 high of $1.3820.Given that the former support at 50 percent level of $1.2265 has caused a decent bounce, the current support could be stronger and may ...

Markets - Commodities - Americas

NY cocoa still targets $3,142-$3,159 range SINGAPORE: New York July cocoa still targets a range of $3,142-$3,159 per tonne, as the correction from the April 27 high of $3,219 seems to be incomplete. The correction looks like a pullback toward the March 18 high of $3,147, which falls into the target zone formed by the 161.8 percent and the 176.4 percent Fibonacci projection levels of the wave 3 - the third wave of a five-wave cycle from the April 13 low ...

Markets - Commodities - Americas

CBOT soybeans mixed; soymeal rallies; soyoil weakens CHICAGO: Chicago Board of Trade soybean futures were mixed on Thursday, with the front month contract easing on a profit-taking setback after hitting its highest since August while deferred contracts firmed slightly on signs of good export demand.Strong gain in soymeal added support to soybeans.Soymeal futures, which also hit their highest since August, rose 1.7 percent. Soymeal futures have risen for seven of the last eight sessions.Soyoil futures weakened, shrugging off a rally in the ...

Markets - Commodities - Americas

US corn export sales hit 4-year high on Brazil woes CHICAGO: US corn export sales surged 80 percent to the largest levels in four years, US Department of Agriculture data showed on Thursday, as tight supplies and dry growing conditions in Brazil prompted importers to buy from the United States. Sales of 2.6 million tonnes for the week ended April 21, for delivery during the existing marketing season and the season beginning on Sept. 1, included the largest weekly corn sales to Japan in more ...

Markets - Commodities - Americas

Corn, soy, wheat surge as export demand heats up CHICAGO: US corn, soybean and wheat futures rallied sharply on Thursday, fuelled by signs of strong export demand, traders said. Concern about crops in South America sparked interest in US supplies from overseas buyers, who typically source the bulk of their corn and soybeans needs from Brazil and Argentina at this time of year. "The exports were a big wake-up call," said Mark Schultz, chief analyst at Northstar Commodity Investment Co.Chicago Board of Trade front-month ...