08282016Sun
Last update: Sun, 28 Aug 2016 10am

Americas

Markets - Commodities - Americas

Argentina needs more soy to fill crusher capacity BUENOS AIRES: Argentine soybean crushers are working at only about 80 percent capacity, the head of the grains export chamber said, as farmers have not yet increased production despite more farm-friendly policies from the new government. President Mauricio Macri ended years of tension between the farm sector and the state when he took office in December. Spurred by tax cuts and Macri's open market policies, wheat and corn planting has increased. It remains to be seen if soy production will also rise. While investment is needed in transportation and other logistics, Alberto Rodriguez, president of CIARA-CEC, which represents grains exporters, said that crushers are waiting to fill their idle capacity. "If soy production does not increase we are going to keep having problems with high idle capacity," said Rodriguez, speaking on Tuesday at a Reuters Summit on Argentina. The country is the world's top exporter of soymeal livestock feed and ...

Markets - Commodities - Americas

Sugar falls further below 1-month high, cocoa jumps NEW YORK/LONDON: Raw sugar futures fell 4 percent on Wednesday, slipping further away from Monday's one-month high as the spot spread weakened and the Brazilian currency pared gains after tapping a 13-month high.New York cocoa futures rose to a three-week top, turning higher in a wide trading range after breaching the key $3,000 level. Arabica coffee fell along with sugar as dealers focused on the September/December spread, which matched Tuesday's lowest level in more than ...

Markets - Commodities - Americas

Soybeans fall on US weather, snapping five-session rally CHICAGO: US soybean futures fell on Wednesday, pressured by favorable crop weather and profit-taking after a five-session advance that was driven by resurgent export demand, analysts said.Corn futures firmed, gaining against soy ahead of a key US government crop report due Friday, while wheat futures rose on hopes for fresh export business.At the Chicago Board of Trade as of 12:40 p.m. CDT (1740 GMT), benchmark November soybeans were down 10 cents at $9.78 per bushel.December ...

Markets - Commodities - Americas

CBOT corn may retest resistance at $3.36-1/4 SINGAPORE: CBOT Dec. corn may retest a resistance at $3.36-1/4 per bushel, a break above which could lead to a gain to the next resistance at $3.41.The downtrend from the July 14 high of $3.80 has completed at the Aug. 2 low of $3.29, as it could be well divided into five small waves. Further confirmation on the completion is given by the bullish divergence on the hourly MACD.A small double-bottom forming around $3.29 suggests ...

Markets - Commodities - Americas

CBOT wheat to retest resistance at $4.21-1/4 SINGAPORE: CBOT Sept. wheat is expected to retest a resistance at $4.21-1/4 per bushel, with a good chance of breaking above this level and rising more towards the next resistance at $4.26-3/4.These resistances are identified respectively as the 61.8 percent and the 76.4 percent Fibonacci retracements on the drop from the July 25 high of $4.35-1/4 to the Aug. 2 low of $3.99-1/4.A high-low bottom forming between Aug. 2 and Aug. 4 indicates a target ...

Markets - Commodities - Americas

NY sugar to fall to 20.13 cents SINGAPORE: New York Oct. sugar is expected to fall to 20.13 cents per bushel, as it has cleared a support at 20.43 cents.The support was provided by the 23.6 percent Fibonacci retracement on the uptrend from the Aug. 3 low of 18.86 cents to the Aug. 8 high of 20.92 cents. The next support will be at 20.13 cents, the 38.2 percent level, a break below which could open the way towards a lower support ...

Markets - Commodities - Americas

NY coffee may rise more towards $1.4375 SINGAPORE: New York Sept. coffee may break a resistance at $1.4115 and rise more towards $1.4375 per lb, driven by a wave c.These resistances are identified respectively as the 23.6 percent and the 38.2 percent Fibonacci retracements on the fall from the July 15 high of $1.5480 to the Aug. 4 low of $1.3695.The rise from $1.3695 consists of three waves, with the current wave c expected to travel to $1.4380. Coffee has briefly pierced ...