07302016Sat
Last update: Sat, 30 Jul 2016 04am

Americas

Markets - Commodities - Americas

CBOT wheat may retest support at $4.06-1/2 SINGAPORE: CBOT Sept. wheat may retest a support at $4.06-1/2 per bushel, as it could have completed a bounce caused by this level.For a chart: http://tmsnrt.rs/29PFLTxThe support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the June 8 high of $5.33-3/4.The bounce from $4.06-1/2 could be broken down into three small waves, with the third wave labelled c having stopped around $4.23-3/4, the 23.6 percent retracement. Such a wave structure suggests the completion of the bounce. The big wave C could have resumed, as it is capable of eventually travelling to $3.78-3/4, the 61.8 percent level.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

Argentina raises its view of 2015-16 soybean and corn crops LIMA: Argentina's 2015-16 soybean crop is expected at 58.8 million tonnes, the Agriculture Ministry said on Thursday, revising its previous estimate of 58 million tonnes. The ministry also raised its forecast for the 2015-16 corn crop to 39.8 million tonnes from 37.9 million and said it now sees the wheat planting area at 5.25 million hectares, down from 5.34 million before. Copyright Reuters, 2016 ...

Markets - Commodities - Americas

US corn stakes out fresh lows, soybeans edge higher CHICAGO: US corn futures fell for the third day in a row on Thursday, with good weather for crop development in the U.S. Midwest and poor exports pushing prices to their lowest in nearly two years.Wheat futures also weakened but soybeans firmed, supported by signs that overseas buyers were looking to the United States to fill gaps caused by shortfalls in the Argentine crop, traders said.The latest U.S. weather view calls for high temperatures currently ...

Markets - Commodities - Americas

CBOT corn may bounce into $3.50-1/2 to $3.56 range SINGAPORE: CBOT December corn may bounce into a range of $3.50-1/2 to $3.56 per bushel as it has found a support at $3.40-1/2.The support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the June 17 high of $4.49.This barrier has caused a bounce towards the range formed by the 23.6 percent and the 38.2 percent Fibonacci retracements on the drop from ...

Markets - Commodities - Americas

CBOT wheat may bounce to $4.23-3/4 SINGAPORE: CBOT Sept. wheat may bounce to $4.23-3/4 per bushel, as it has found a support at $4.06-1/2.The support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the June 8 high of $5.33-3/4.The bounce caused by the support may extend to $4.23-3/4, the 23.6 percent level. The wave C could then resume towards $4.06-1/2, as it is capable of eventually travelling ...

Markets - Commodities - Americas

NY sugar may retest support at 19.16 cents SINGAPORE: New York Oct. sugar may break a support at 19.16 cents per lb and fall more to the next support at 18.90 cents, as suggested by its wave pattern and a Fibonacci projection analysis.The support is provided by the 76.4 percent Fibonacci retracement on the uptrend from the June 24 low of 18.53 to the June 30 high of 21.22 cents. The bounce caused by this support seems to have ended at 19.69 cents, ...

Markets - Commodities - Americas

US Cash Grains-Corn, soybean basis bids steady to firmer as futures gain CHICAGO: Spot corn and soybean basis bids on Wednesday at elevators and processors around the US Midwest were steady to firmer following modest futures price increases for both grains, merchants said.Farmer sales eased after the return of forecasts for hot weather, seen by Thursday in the Midwest. That helped lift Chicago Board of Trade corn and soybeans contracts.Extreme heat tends to hurt corn crops that are in the pollination phase, potentially reducing their yields. Scorching ...