12082016Thu
Last update: Thu, 08 Dec 2016 05am

Americas

Markets - Commodities - Americas

CBOT corn remains neutral in $3.37 to $3.42-1/4 range SINGAPORE: CBOT December corn <CZ6 > remains neutral in a range of $3.37 to $3.42-1/4 per bushel, and an escape could indicate a direction.The range is formed by the 50 percent and the 38.2 percent Fibonacci retracements of the uptrend from the Aug. 31 low of $3.14-3/4 to the Oct. 20 high of $3.59-1/4. The bias could be towards the downside, as the gain from the Nov. 14 low of $3.35-1/2 looks like a pullback towards the trendline rising from $3.14-3/4.A rise to the Nov. 17 high of $3.43-1/2 could confirm a break above $3.42-1/4, and the 23.6 percent level of $3.48-1/2 will be targeted then.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

CBOT wheat may slide to $3.96-1/2 SINGAPORE: CBOT December wheat may slide to $3.96-1/2 per bushel, as its bounce triggered by the support at $3.92-1/4 could have completed.The support is provided by the 86.4 percent Fibonacci retracement of the uptrend from the Aug. 31 low of $3.86-3/4 to the Oct. 14 high of $4.28-1/4. The bounce could be broken down into three smaller waves, and such a structure indicates the downtrend from $4.28-1/4 remains steady.The retracement analysis also reveals an immediate ...

Markets - Commodities - Americas

NY sugar may seek support at 20.04 cents SINGAPORE: New York March sugar may seek a support at 20.04 cents per lb, as the drop from the Sept. 29 high of 24.10 cents seems to be ending.The drop has been driven by a wave (4), which consists of five small waves. The final wave labelled e is travelling towards 20.04 cents, the 38.2 percent Fibonacci retracement on the uptrend from the Feb. 19 low of 13.48 cents to the Sept. 29 high of ...

Markets - Commodities - Americas

NY coffee to test $1.5745 SINGAPORE: New York December coffee is expected to test the Nov. 14 low of $1.5745 per lb, a break below which could cause a loss to $1.5440.The downtrend from the Nov. 8 high of $1.76 has been developing within a channel, which indicates an aggressive target around $1.50. The trend consists of five waves and the final wave, labelled e, is unfolding towards $1.5745.A Fibonacci retracement analysis on the uptrend from the March 1 low ...

Markets - Commodities - Americas

CBOT wheat ends lower in rangebound trade, led by corn, soy CHICAGO: Wheat futures on the Chicago Board of Trade fell Wednesday on spillover weakness from corn and soybeans and pressure from a resurgent US dollar, traders said.The US dollar index hit a near 14-year high on the expectation increased U.S government spending could trigger higher inflation. A stronger dollar tends to make US grains less attractive on the world market.CBOT December wheat settled down 2 cents at $3.97 per bushel, but stayed within the previous ...

Markets - Commodities - Americas

Late-October sugar output in Brazil meets expectations SAO PAULO: Brazilian mills in the main center-south region produced 2.05 million tonnes of sugar in the second half of October, slightly below the previous fortnight's volume but in line with market expectations.Sugar companies in the region crushed 31.75 million tonnes of cane in late October, compared with 32 million tonnes early in the month, according to figures that cane industry group Unica released on Wednesday. Ethanol output fell to 1.3 billion liters from 1.4 ...

Markets - Commodities - Americas

CBOT Trends-Wheat steady-up 1 cent, corn up 1-2, soybeans up 4-5 CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Wednesday. WHEAT - Steady to up 1 cent per bushel Steady to firm in rangebound trade, supported by technical buying and fund short-covering. Rallies limited by a firm dollar, which makes US wheat less competitive on the world market, and plentiful global grain supplies. Algeria's state ...