05252016Wed
Last update: Wed, 25 May 2016 06am

Americas

Markets - Commodities - Americas

CBOT soybeans fall for fourth straight session CHICAGO: US soybean futures eased for the fourth consecutive session on Monday, weighed down by slowing export demand and profit taking by investment funds, traders said.Expectations that farmers will switch some acreage they had intended for corn or spring wheat to soybeans also hung over the market.Signs of a slowdown in the pace of soy crushing at US processors contributed to the bearish tone in Monday's trading.The Commodity Futures Trading Commission's weekly Commitments of Traders report issued on Friday afternoon showed that non-commercial traders had built up their biggest net long position in soybeans since September 2012.Private analytics firm Informa Economics estimated 2016 US soybean acreage at 83.0 million acres, 800,000 acres above the US Agriculture Department's forecast.USDA on Monday morning reported that weekly export inspections totaled just 194,627 tonnes in the latest week.The National Oilseed Processors Association said that its members crushed 147.614 million bushels of soybeans in April, ...

Markets - Commodities - Americas

CBOT wheat falls on technical selling CHICAGO: US wheat futures slipped on Monday on a mild technical setback amid plentiful global supplies and weak demand for US exports, traders said.A fast pace of planting for the US spring wheat crop and good conditions for development of hard red winter wheat in the US Plains added pressure.Technical resistance for the benchmark Chicago Board of Trade July soft red winter wheat contract was noted at the 100-day moving average.Analysts were expecting a US ...

Markets - Commodities - Americas

Gold falls from early gains as US equities turn higher NEW YORK/LONDON: Gold prices turned slightly negative on Monday, reversing gains of 1 percent on pressure from strong crude futures and US equity markets.Spot gold was down 0.05 percent at $1,272.50 an ounce at 2:07 p.m. EDT (1807 GMT), after rising as much as 1.2 percent to $1,288.20. US gold futures for June delivery settled up 0.1 percent at $1,274.20 an ounce.Bullion prices were initially supported by lower stock markets and soft Chinese data, which ...

Markets - Commodities - Americas

Sugar turns higher despite record Brazil crush data NEW YORK/LONDON: Raw sugar futures on ICE firmed on Monday after record Brazilian cane crush data was broadly in line with expectations, while cocoa fell for the fourth straight day to one-month lows. Robusta coffee rose to a nine-month high while arabica climbed to a nearly two-month high, as the US dollar fell against a basket of major currencies.In sugar, brokers cited early selling pressure in reaction to data released late on Friday showing speculators ...

Markets - Commodities - Americas

US 2016-17 sugar output pegged at 8.83mn short tons NEW YORK: US sugar production will total 8.83 million short tons in the 2016/17 crop year, with a record beet output of 5.1 million tons and cane at 3.73 million tons, a closely-watched NAFTA trader said at an industry event on Monday. That would be down from 8.93 million tons in the current 2015-16 crop year that runs through end-September, but slightly higher than an official government forecast of 8.71 million tons. As a result, ...

Markets - Commodities - Americas

US Cash Soymeal-Basis offers flat on ample supply, routine demand CHICAGO: Basis offers for US soymeal were quietly unchanged on Monday on routine demand for and ample supplies of the animal feed following heavy farmer sales of soybeans earlier this month, dealers said.*Seasonal processor downtime resulted in isolated supply shortages, but global buyers were turning their attention to plentiful supplies and competitive offers for forward bookings out of Brazil and Argentina.Monthly US crushing data that showed a nearly record-large soy crush in April was largely ...

Markets - Commodities - Americas

US corn plantings seen 76pc complete in latest week CHICAGO: US farmers likely slowed their pace of planting last week due to rainy conditions in the Midwest but corn and soybean seeding remained ahead of the typical schedule, analysts said on Monday.The US Department of Agriculture's weekly crop progress report is expected to show US corn planting was 76 percent complete and soybean planting 38 percent complete as of May 15, according to the average of estimates from 10 analysts polled by Reuters.Corn planting ...