05052016Thu
Last update: Thu, 05 May 2016 11am

Americas

Markets - Commodities - Americas

CBOT soybeans may revisit April 27 low of $10.02 SINGAPORE: CBOT soybeans May contract may revisit its April 27 low of $10.02 per bushel, as it failed to break a resistance at $10.17-3/4.The resistance is provided by the 176.4 percent Fibonacci projection level of an upward wave c, the third wave of a three-wave cycle from the March 2 low of $8.56.Soybeans failed to break this resistance after several attempts, signalling the rise from the April 25 low of $9.77-1/4 could be just a part of the correction from the April 21 high of $10.34-3/4.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

CBOT corn may fall to $3.73-1/2 SINGAPORE: CBOT corn may fall to a support at $3.73-1/2 per bushel, as its correction from the April 25 high of $3.85 seems to be incomplete.The correction could consist of three waves, with the third wave labeled c traveling towards the support at $3.73-1/2, the 61.8 percent Fibonacci retracement on the uptrend from the April 11 low of $3.56 to the April 21 high of $4.02.This support is strengthened by another similar one provided by ...

Markets - Commodities - Americas

CBOT wheat may retrace into $4.65-1/4 to $4.69 range SINGAPORE: CBOT wheat may retrace further into a range of $4.65-1/4 to $4.69 per bushel, as it failed to break a resistance at $4.80-1/2.The resistance is provided by the 38.2 percent Fibonacci retracement on the fall from the April 21 high of $5.10-3/4 to the April 25 low of $4.62. It has caused a correction towards the range formed by the 7 percent and the 14.6 percent retracements.A rise to $4.76 could signal wheat's attempt ...

Markets - Commodities - Americas

NY sugar may fall to 15.05 cents SINGAPORE: New York sugar may break a support at 15.38 per lb and fall to the next support at 15.05 cents, as it could have completed a rally from the April 13 low of 14.00 cents.The completion has been indicated by sugar's repeated failures to break the resistance at 15.70 cents, the 61.8 percent Fibonacci retracement on the fall from the March 23 high of 16.75 cents to 14.00 cents.The 50 percent level at 15.38 ...

Markets - Commodities - Americas

NY coffee to test support at $1.2065 SINGAPORE: New York July coffee is expected to test a support at $1.2065 per lb, a break below which could cause a loss to the next support at $1.1815.The contract is riding on a wave c, the third wave of a three-wave cycle from the March 23 high of $1.3820. This wave has extended below its 50 percent Fibonacci projection level at $1.2265 and is unfolding towards the 61.8 percent level at $1.2065.At its full ...

Markets - Commodities - Americas

NY cocoa may retrace into $3,142-$3,159 range SINGAPORE: New York July cocoa may retrace into a range of $3,142-$3,159 per tonne, as indicated by its wave pattern and a Fibonacci projection analysis. The contract is riding on a wave 3, the third wave of a five-wave cycle from the April 13 low of $2,914. This wave has become a bit exhausted, as indicated by the bearish divergence on the hourly MACD and its failure to overcome a resistance at $3,215.The resistance is ...

Markets - Commodities - Americas

U.S. wheat, corn fall; soybeans settle higher CHICAGO: U.S. corn and wheat futures fell on Wednesday, setting back from two days of gains on profit taking as speculators locked in gains on recent short-covering rallies, traders said."The funds have gotten heavy long up here," said Mark Gold, managing partner with Top Third Ag Marketing in Chicago. "This is strictly a fund game. I have not seen a real fundamental reason for the break."Soybeans edged higher, supported by signs U.S. exporters were picking ...