05282016Sat
Last update: Sat, 28 May 2016 12pm

Americas

Markets - Commodities - Americas

CBOT soybeans may bounce to $10.74 SINGAPORE: CBOT soybeans July contract may bounce to $10.74 per bushel, as suggested by a Fibonacci retracement analysis.The analysis is on the rise from the May 9 low of $10.19 to the May 10 high of $10.91-/2. It reveals that soybeans have found a support at $10.55, the 50 percent retracement, and have overcome a barrier at $10.63-1/4, the 38.2 percent level.The next barrier will be at $10.74, the 23.6 percent level, a break above which could lead to a gain to the 14.6 percent level at $10.80-1/4. Only a break below $10.55 could confirm an extension of the downtrend towards $10.46-1/2, the 61.8 percent level.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

CBOT corn may rise to $3.96CBOT corn may rise to $3.96 SINGAPORE: CBOT July corn is expected to rise to $3.96 per bushel, as suggested by its wave pattern and a Fibonacci projection analysis.The contract is riding on a wave C, the third wave of a three-wave cycle from the April 1 low of $3.51-1/4. This wave has travelled above its 38.2 percent projection level at $3.89-1/2, and is heading towards the 50 percent level at $3.96.Eventually, the wave C may extend to $4.02-1/2, the 61.8 ...

Markets - Commodities - Americas

CBOT wheat may retest resistance at $4.75-3/4 SINGAPORE: CBOT July wheat may retest a resistance at $4.75-3/4 per bushel, with a good chance of breaking above this level and rising more towards the next resistance at $4.84.These resistances are identified respectively as the 61.8 percent and the 50 percent Fibonacci retracements on the rise from the March 2 low of $4.49-1/2 to the April 21 high of $5.18-1/2.Wheat may have completed a correction caused by the resistance at $4.75-3/4 and is poised ...

Markets - Commodities - Americas

NY sugar may rise to 17.10 cents SINGAPORE: New York July sugar may break a resistance at 16.93 cents per lb and rise to 17.10 cents, as suggested by its wave pattern and a Fibonacci projection analysis.The contract could be riding on a wave C, the third wave of a three-wave cycle from the May 9 low of 15.55 cents. This wave is capable of extending to 17.28 cents, its 61.8 percent level, or to 17.83 cents, the 100 percent level at ...

Markets - Commodities - Americas

NY coffee may rise to $1.3635 SINGAPORE: New York July coffee may rise to $1.3635 per lb, as it has cleared a resistance at $1.33.The resistance was provided by the 61.8 percent Fibonacci projection level of an upward wave C from the May 4 low of $1.1890. This is the third wave of a three-wave cycle from the March 1 low of $1.1535.The next resistance will be at $1.3635, the 76.4 percent level. Eventually, the wave C may extend to $1.4175, ...

Markets - Commodities - Americas

CBOT corn closes higher for third day in a row CHICAGO: Chicago Board of Trade corn futures firmed on Monday, edging higher on signs of good export demand and expectations of a cutback in US plantings, traders said.Corn notched its third straight session of gains, hitting its highest since May 3.The US Agriculture Department on Monday morning reported a flash sale of 128,000 tonnes of corn to South Korea for delivery during the 2015/16 marketing year.USDA also said that weekly export inspections of corn totaled ...

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 ...