02132016Sat
Last update: Sat, 13 Feb 2016 10pm

Americas

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 of more normal rainfall, it said.Copyright Reuters, 2016 ...

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 ...

Markets - Commodities - Americas

NY cocoa neutral in $2,899-$2,954 range SINGAPORE: New York March cocoa looks neutral in a range of $2,899-$2,954 per tonne, and an escape will point a direction. The range is formed by the 176.4 percent and the 150 percent Fibonacci projection levels of a downward wave (3), the third wave of a five-wave cycle from the Dec. 14, 2015 high of $3,386.A break above $2,954 could open the way towards $3,009, the 123.6 percent level, while a break below $2,899 could ...

Markets - Commodities - Americas

BHP Billiton cuts iron ore output forecast after Brazil dam burst MELBOURNE: BHP Billiton increased its iron ore output by 1 percent in the December quarter from a year earlier, the small increase dented by a dam disaster at its Brazilian joint venture which forced BHP to cut its production forecast for the year to June 2016.BHP's oil and gas output, which sets it apart from other big miners, fell 5 percent to 60.2 million barrels of oil equivalent (mmboe) as it cut production at its ...

Markets - Commodities - Americas

Brazil's gov't to hold auction of coffee stocks on Wednesday SAO PAULO: Brazil's crop supply agency Conab plans to hold an auction on Wednesday for the sale of 200,000 bags of green arabica coffee held in government warehouses in the main growing belt, it said on Tuesday. Minimum prices range from 410.72 reais to 430.66 reais ($101-$106) a 60-kg bag and lots are located in the main growing states of Minas Gerais and Sao Paulo. Previous auction attempts by Conab in late 2014 flopped, with ...

Markets - Commodities - Americas

Robusta coffee hits 5-1/2-year low, cocoa firms NEW YORK/LONDON: Robusta coffee futures fell to a 5-1/2-year low on Tuesday on ample supplies from top grower Vietnam while cocoa extended gains on strong European grind data and short-covering after data showed speculators sharply cut their bullish stance. Sugar futures turned lower in choppy dealings as oil prices fell below $29 per barrel. Dealers said Vietnam had just finished harvesting a good crop and had coffee left over from the prior season when farmers ...