02102016Wed
Last update: Wed, 10 Feb 2016 03pm

Americas

Markets - Commodities - Americas

CBOT soybeans close lower on profit-taking CHICAGO: Chicago Board of Trade soybean futures dropped 1.1 percent on Wednesday on a profit-taking setback after prices rallied to their highest in nearly a month on Wednesday.Traders said plentiful global supplies and expectations of a record crop in Brazil will keep a bearish tone on the market for the next few months and most rallies will be quickly turned back.Consolidation trade was noted near the benchmark CBOT March contract's 30-day moving average.The ample supply base allowed traders to shrug off bullish export prospects.Top global soy buyer China is likely to import record volumes of the oilseed again this year as crushers take advantage of cheap overseas supplies to meet nearly all the demand for protein-rich meals, industry analysts said.Soymeal and soyoil futures also weakened, with weak export demand keying declines.Weakness in crude oil prices added pressure to the soy complex.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

CBOT corn rises to 4-week high on short-covering CHICAGO: Chicago Board of Trade corn futures edged higher on Wednesday, finishing at the highest levels in about a month on short covering and technical buying, backed by increased export demand for US supplies, traders said. It was the sixth straight session without a decline for front-month CBOT March corn, with the gains of 4.8 percent over that stretch the largest such increase since September.Corn has climbed when many other commodities such as crude oil ...

Markets - Commodities - Americas

Soybeans set back on profit taking; wheat weakens too CHICAGO: US soybean futures dropped 1.1 percent on Wednesday as investors locked in profits a day after the market's rally to a four-week high, traders said. Wheat futures also fell, pressured by weak overseas demand for US supplies. But corn closed slightly higher, with a surprise export sale triggering a mild round of short-covering after weakening during the overnight session. Soybeans notched the biggest decline, and traders warned that the ample global supply base will ...

Markets - Commodities - Americas

Gold benefits from falls in equities and commodities markets NEW YORK/LONDON: Gold rose 2 percent on Wednesday, benefiting as global equity markets fell to 2-1/2-year lows and oil prices continued their relentless slump to a 13-year low, leading other commodity markets broadly lower. However, slow physical demand from Asia kept the metal from returning to this month's peak of $1,112 an ounce, traders said. Spot gold climbed to a session high of $1,109.20 an ounce and was up 1.5 percent at $1,103.36 an ounce ...

Markets - Commodities - Americas

Brazil 2016 coffee crop seen on the mend at 49.1-51.9mn bags SAO PAULO: In its first study of the new harvest, Brazil's Agriculture Ministry forecast the 2016 coffee crop at 49.13 million to 51.94 million 60-kg bags, up 14 to 20 percent from last season's 43.2-million-bag harvest that suffered from drought.The ministry's crop supply agency Conab also said coffee area had grown by nearly 3 percent to 1.98 million hectares.Yields are expected to recover by as much as 17 percent from last season with the return ...

Markets - Commodities - Americas

NY sugar may fall to 14.38 cents SINGAPORE: New York March sugar may break a support at 14.66 cents per lb and fall more towards the next support at 14.38 cents, as indicated by its wave pattern and a Fibonacci retracement analysis.These supports are identified respectively as the 38.2 percent and the 23.6 percent Fibonacci retracements on the fall from the Dec. 4, 2015 high of 15.85 cents to the Nov. 9, 2015 low of 13.93 cents.Wave pattern suggests sugar be riding ...

Markets - Commodities - Americas

NY coffee may test resistance at $1.1685 SINGAPORE: New York March coffee may test a resistance at $1.1685 per lb, a break above which could lead to a gain to $1.1800.The resistance is provided by the 86.4 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the Dec. 7, 2015 high of $1.2830.A small triple-bottom forming around $1.1360 suggests coffee may climb to $1.1800. Support is at $1.1450, the 107 percent level, a break ...