07242016Sun
Last update: Sun, 24 Jul 2016 03pm

Americas

Markets - Commodities - Americas

CBOT corn still targets $3.84-3/4 SINGAPORE: CBOT July corn still targets $3.84-3/4 per bushel, as suggested by a Fibonacci retracement analysis.The contract is riding on a wave 5, the fifth wave of a five-wave cycle from the June 17 high of $4.38-1/4. This wave has travelled below a support at $3.95-1/4, the 50 percent Fibonacci retracement on the rise from the April 1 low of $3.51-1/4 to the June 8 high of $4.39-1/4. Chances are it may extend to $3.84-3/4, the 61.8 percent retracement, which is pointed by a trendline.A break above $3.95-1/4 could lead to a gain to the 38.2 percent level at $4.05-1/2.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

CBOT wheat to test support at $4.56-3/4 SINGAPORE: CBOT July wheat is expected to test a support at $4.56-3/4 per bushel, a break below which could cause a loss to the next support at $4.54.The contract is riding on a wave 5, the fifth wave of a five-wave cycle from $4.79-3/4, which is an hourly chart high touched on June 20.Even though it is generally difficult to pinpoint the exact bottom of the fifth wave, a trendline does suggest a range of ...

Markets - Commodities - Americas

CBOT soybeans to test support at $11.00-3/4 SINGAPORE: CBOT soybeans November contract is expected to test a support at $11.00-3/4 per bushel, a break below which could cause a loss to the next support at $10.89-1/2.These supports are identified respectively as the 61.8 percent and the 76.4 percent Fibonacci projection levels of a downward wave c, the third wave of a three-wave cycle from the June 13 high of $11.86-1/4.At its full capacity, its wave could travel to $10.71, the 100 percent ...

Markets - Commodities - Americas

Brazil to take steps to assuage shortage of beans, corn SAO PAULO: The Brazilian government will cut taxes and scrap import controls on certain key staples to mitigate the impact of slowing production, senior officials said on Wednesday. Some of the steps include raising minimum corn prices and eliminating bean import limits from China and Mexico, Agriculture Minister Baliro Maggi said at a news conference in Brasilia.Prices for beans, one of Brazil's most consumed staples, have tripled this year in the wake of a production ...

Markets - Commodities - Americas

Canada seen easing wheat plantings, maintaining canola area WINNIPEG: Canadian farmers planted slightly less wheat for harvest this year than they did last year, and about the same area of canola, according to a Reuters survey of 13 traders and analysts.Statistics Canada will report on crop plantings on June 29, based on a farmer survey.Farmers are rotating canola plantings into their fields as often as possible due to favorable returns, and spring wheat prices looked less attractive prior to spring, said Lawrence Klusa, ...

Markets - Commodities - Americas

CBOT Trends-Wheat up 3-4 cents, corn down 1-3, soy down 2-4 CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Wednesday. NOTE: Friday is the last trading day for CBOT July options. WHEAT - Up 3 to 4 cents per bushel Higher on bargain-buying one day after the July contract fell to a one-month low.Setback in the dollar lends support, making US wheat more attractive on the ...

Markets - Commodities - Americas

NY cocoa to rise to $3,174 SINGAPORE: New York Sept. cocoa is expected to rise to $3,174 per tonne, as it has broken a resistance at $3,136. The resistance was provided by the 76.4 percent Fibonacci projection level of an upward wave C, the third wave of a three-wave cycle from the Jan. 28 low of $2,745.The next resistance is at $3,174, the 86.4 percent level, a break above which could lead to a gain to the 100 percent level at ...