09272016Tue
Last update: Tue, 27 Sep 2016 11pm

Americas

Markets - Commodities - Americas

CBOT wheat to rise to $4.02-1/2 SINGAPORE: CBOT Dec. wheat is expected to rise to $4.02-1/2 per bushel, as it has cleared a resistance at $3.95.The resistance was at 114.6 percent Fibonacci projection level of a downward wave c, the third of a three-wave cycle from the July 13 high of $4.73-3/4.The next resistance will be at $4.02-1/2, the 61.8 percent Fibonacci projection level of a bigger wave C, which is the third of a three-wave cycle from the June 8 high of $5.51-1/2. The bullish divergence on hourly RSI suggests wheat has become technically strong and hence may gain more.A break below $3.95, now a support, may cause a loss to $3.90.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

NY sugar to drop to 19.39 cents SINGAPORE: New York October sugar is expected to drop to 19.39 cents per lb, as it has cleared a support at 19.69 cents.The support was at the 50 percent Fibonacci projection level of a downward wave C, the third of a presumed three-wave cycle from the June 30 high of 21.22 cents. This wave is capable of travelling to 19.39 cents, the 61.8 percent level.The chart pattern from Aug. 8 to Aug. 24 looks like ...

Markets - Commodities - Americas

NY cocoa may retest support at $2,866 SINGAPORE: New York December cocoa is expected to retest a support at $2,866 per tonne, a break below which could cause a loss to $2,826. The support is provided by the 86.4 percent Fibonacci retracement of the uptrend from the July 29 low of $2,826 to the Aug. 19 high of $3,120. Cocoa failed to overcome this barrier in its first attempt, but may succeed in its current attempt.A falling channel suggests cocoa may fall ...

Markets - Commodities - Americas

NY coffee to test $1.5760 in four weeks SINGAPORE: New York coffee is expected to test a resistance at $1.5760 per lb over the next four weeks, with a good chance of breaking above this level and rising towards $1.7125.The contract has resumed its uptrend after completing a pullback towards $1.4070, the 23.6 percent Fibonacci retracement on the downtrend from the Oct. 13, 2014 high of $2.2910 to the March 1, 2016 low of $1.1340.The next resistance will be at $1.5760, the 38.2 ...

Markets - Commodities - Americas

Costa Rica coffee exports jump 32pc in August MEXICO CITY: Costa Rica's coffee exports rose 32 percent in August, compared to the same month last year, the country's national coffee institute ICAFE said on Thursday. The Central American country exported 91,184 60-kg bags in August, compared to 69,263 bags in the same period a year prior. Coffee shipments in the first eleven months of the 2015-16 harvesting season totaled 1,193,354 60-kg bags, an increase of 6 percent from the same eleven-month period during ...

Markets - Commodities - Americas

Rains favor early flowering of Brazil's main coffee belt ESPIRITO SANTO DO PINHAL: Widespread rains across the southern half of the world's main arabica coffee region in Brazil are triggering early blooms on trees, which will form the first beans to mature for the 2017 harvest. The first wave of rains, which broke a dry spell that started in June, pushed through southeast Brazil in mid-August, unleashing moderate flowering seen by Reuters while on a tour through the main coffee belt on Wednesday.The early ...

Markets - Commodities - Americas

US Cash Soymeal-Basis gains on tight supply, futures declines CHICAGO: Soymeal cash basis offers were steady to higher in US rail, truck and export markets on Thursday, boosted by seasonally tightening supplies and declines in futures, dealers said.Some Midwestern soybean processors were idled for annual maintenance as workers prepared equipment for the imminent soybean harvest, limiting available soymeal supplies. Harvest was still at least three weeks away in much of the Midwestern growing region, the dealers said.Many buyers have already covered feed needs for ...