02132016Sat
Last update: Sat, 13 Feb 2016 05am

Americas

Markets - Commodities - Americas

Sugar rallies hard for 2nd day after forming technical support NEW YORK/LONDON: Raw sugar futures on ICE rallied another 3 percent in heavy volume on Thursday, buoyed by short-covering and strong technical support, while New York cocoa extended losses to an 8-1/2-month low on weak charts. Arabica coffee turned higher in late-day dealings after tapping a two-month low as the firm US dollar provided pressure, while robusta was weighed down by expectations of a pickup in Vietnamese exports. March raw sugar futures settled up 0.41 cent, or 2.8 percent, at 14.88 cents per lb, building onto Wednesday's rally. The move lifted the March/May spread to a 0.45-cent premium, the highest since Dec. 8. The spot contract has seen its biggest two-day rally in 10 weeks, rebounding from Tuesday's fall to 13.93 cents that matched the Nov. 9 low. This formed a double bottom and strong technical support, traders said. Thursday was the last day of a five-day index rebalancing, with ...

Markets - Commodities - Americas

CBOT soybeans rise for third straight day CHICAGO: Chicago Board of Trade soybean futures firmed on Thursday, gaining on supportive export data, marking their third consecutive day of gains, traders said.Technical resistance limited the gains.The most actively traded CBOT March soybean contract failed to hold support above its 100-day moving average, a level it has not settled above since Dec. 18.Soyoil futures also rose, following a rally in the crude oil market. CBOT March soyoil broke through its 50-day moving average during ...

Markets - Commodities - Americas

CBOT corn ends flat on ample global supplies, wheat declines CHICAGO: Chicago Board of Trade corn futures were about unchanged on Thursday as ample global grain supplies anchored prices even as corn cash markets firmed in the United States and South America, traders said.A nearly 2 percent drop in CBOT wheat capped potential gains in corn, with the trading range in most-active CBOT March corn defined by its 10-day moving average to the downside and 20-day moving average to the upside.Prices still were hovering near ...

Markets - Commodities - Americas

Gold falls 2pc on Fed comments, chart-based sell signals NEW YORK/LONDON: Gold fell sharply to a 1-1/2-week low on Thursday, pressured by a US Federal Reserve president's comments about potentially rethinking further rate hikes, triggering technical sell signals while shrugging off a rebound from 12-year lows in oil prices.Crude oil prices rebounded from 12-year lows and led the beaten-up US stock market higher, pointing to a recovery in risk appetite and blunting bullion's appeal as a haven.The dollar turned higher. Spot gold was down ...

Markets - Commodities - Americas

Wheat prices fall on hefty supplies; Paris contract hits low CHICAGO: US wheat fell for the second straight day on Thursday, pressured by technical selling, ample global supplies, lackluster demand for US shipments and dragged by Paris futures which hit a contract low early in the session. Chicago Board of Trade wheat futures extended declines after Euronext March milling wheat tumbled to a contract low of 166.25 euros a tonne. CBOT corn was about flat while soybeans touched a three-week high. CBOT March wheat settled ...

Markets - Commodities - Americas

NY sugar may rise more to 14.68 cents SINGAPORE: New York March sugar may rise further to 14.68 cents per lb, as it has cleared a resistance at 14.51 cents.The resistance was provided by the 38.2 percent Fibonacci retracement on the fall from the Dec. 31 high of 15.44 cents to the Jan. 12 low of 13.93 cents.The next resistance will be at 14.68 cents, the 50 percent level, a break above which could lead to a gain to the 61.8 percent level ...

Markets - Commodities - Americas

NY cocoa may rise to $2,929 SINGAPORE: New York March cocoa may break a resistance at $2,899 per tonne, and rise to the next resistance at $2,929, as it has stabilised around a support at $2,849. The resistance and the support are provided respectively by the 176.4 percent and the 200 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.This wave could be broken down into ...