02122016Fri
Last update: Fri, 12 Feb 2016 10am

Americas

Markets - Commodities - Americas

CBOT soy ends higher on export demand, China stimulus hopes CHICAGO: US soybean futures rose on Tuesday, peaking at their highest since Dec. 23 on signs of good export demand and hopes for increased measures to stimulate the economy of top buyer China, traders said.A round of late profit taking pulled soybeans from their highs ahead of the close.Concerns about rain in Brazil slowing the early harvest of soybeans from that key exporter also contributed to the gains.The US Agriculture Department on Monday reported weekly soybean export inspections of 1.395 million tonnes, up from 1.245 million a week earlier and above trade expectations of 1 million to 1.3 million tonnes.China's economy grew at its weakest pace in a quarter of a century last year, raising hopes Beijing would cushion the slowdown with more stimulus policies.Private analytics firm Informa Economics on Tuesday raised its outlook for 2016 US soybean acreage to 85.23 million.Soyoil futures also rose, their third day of gains ...

Markets - Commodities - Americas

CBOT corn rises to 1-month high as traders cover shorts CHICAGO: Chicago Board of Trade corn futures jumped more than 1 percent to the highest levels in roughly a month on Tuesday, lifted by investor short covering and firm cash grain markets, traders said.The Commodity Futures Trading Commission in a report after the close of trading on Friday showed speculative investors with a near-record net short of 239,565 corn contracts. The data surprised some investors, sparking a wave of short covering when trade resumed following ...

Markets - Commodities - Americas

US corn, soy hit four-week highs; wheat follows CHICAGO: US soybean and corn futures firmed early on Friday, hitting four-week highs on concerns about rains slowing early soybean harvest in Brazil and investor hopes of stimulus measures in China, traders said.Wheat futures also rose, following corn and soybeans higher amid a mild round of short-covering. Traders also cited technical buying in wheat after European wheat hit contract lows."Grain futures are higher across the board this morning, with traders returning from the three-day weekend ...

Markets - Commodities - Americas

NY sugar may test support at 14.66 cents SINGAPORE: New York March sugar may test support at 14.66 cents per lb, as it failed to break resistance at 15.12 cents.Support and resistance are identified respectively as the 61.8 percent and the 38.2 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.A break below 14.66 cents could cause a loss to the 23.6 percent level at 14.38 cents, while ...

Markets - Commodities - Americas

NY coffee biased to rise to $1.1685 SINGAPORE: New York March coffee is biased to rise to $1.1685 per lb, as it has stabilized around a support at $1.1360.The support is provided by the 114.6 percent Fibonacci projection level of downward wave C, the third wave of a three-wave cycle from the Dec. 7, 2015 high of $1.2830.A small triple-bottom seems to have formed around $1.1360, which will only be confirmed when coffee rises to $1.1685, the 86.4 percent level.A break below ...

Markets - Commodities - Americas

Gold climbs nearly 2 pct on weaker dollar, equities NEW YORK: Gold rose nearly 2 percent on Friday, after dropping for four of the past five sessions, as a weaker dollar and falling equity markets underpinned demand for assets perceived as safer.Oil prices dove below $29 a barrel, dragging major equity indices around the world sharply lower, as fears of a global slowdown amid a crude supply glut roiled markets and unsettled investors."You have pockets of risk aversion generating defensive bids in gold, but ...

Markets - Commodities - Americas

NY sugar targets 15.68 cents SINGAPORE: New York March sugar may break resistance at 15.01 cents per lb and rise more towards the next resistance at 15.68 cents, driven by a wave C.This is the third wave of a three-wave cycle from the Aug. 24, 2015 low of 11.28 cents. It has traveled far above resistance at 14.60 cents, the 14.6 percent projection level, and is progressing towards the 23.6 percent level at 15.01 cents.A rise to 15.10 cents could ...