01172017Tue
Last update: Tue, 17 Jan 2017 10pm

Americas

Markets - Commodities - Americas

US wheat stays firm on planting doubts, crop data eyed PARIS/SYDNEY: US wheat touched its highest level in more than a week on Monday as expectations for reduced plantings and risks to crops from dry weather lent support to a market that has been weighed down by large inventories.Soybeans and corn also touched their highest levels in over a week, with higher crude oil prices and an easing in the dollar from a near 14-year high helping crop markets.Corn, however, turned slightly lower during European trading, still capped by an expected record US harvest.The most active wheat futures on the Chicago Board Of Trade were up 0.3 percent at $4.09 a bushel by 1204 GMT, after earlier reaching $4.12, the highest since Nov. 10."There are a few factors supporting prices. There is the expectation that US farmers will plant less wheat, while there is continued dry weather in some parts of southern Plains (states)," said Phin Ziebell, agribusiness economist at ...

Markets - Commodities - Americas

CBOT soybeans may fall to $9.75 SINGAPORE: CBOT soybeans Jan. contract may fall to $9.75 per bushel, as its bounce from the Nov. 14 low of $9.75-1/4 has ended.The bounce was triggered by the support at $9.75, the 61.8 percent Fibonacci retracement on the uptrend from the Sept. 27 low of $9.40-1/2 to the Oct. 27 high of $10.31, it has been limited by the resistance at $9.96-1/4.Following a struggle around $9.85-3/4, the contract eventually dropped below this weak support. Either ...

Markets - Commodities - Americas

CBOT corn remains neutral in $3.37 to $3.42-1/4 range SINGAPORE: CBOT December corn <CZ6 > remains neutral in a range of $3.37 to $3.42-1/4 per bushel, and an escape could indicate a direction.The range is formed by the 50 percent and the 38.2 percent Fibonacci retracements of the uptrend from the Aug. 31 low of $3.14-3/4 to the Oct. 20 high of $3.59-1/4. The bias could be towards the downside, as the gain from the Nov. 14 low of $3.35-1/2 looks like a pullback ...

Markets - Commodities - Americas

CBOT wheat may slide to $3.96-1/2 SINGAPORE: CBOT December wheat may slide to $3.96-1/2 per bushel, as its bounce triggered by the support at $3.92-1/4 could have completed.The support is provided by the 86.4 percent Fibonacci retracement of the uptrend from the Aug. 31 low of $3.86-3/4 to the Oct. 14 high of $4.28-1/4. The bounce could be broken down into three smaller waves, and such a structure indicates the downtrend from $4.28-1/4 remains steady.The retracement analysis also reveals an immediate ...

Markets - Commodities - Americas

NY sugar may seek support at 20.04 cents SINGAPORE: New York March sugar may seek a support at 20.04 cents per lb, as the drop from the Sept. 29 high of 24.10 cents seems to be ending.The drop has been driven by a wave (4), which consists of five small waves. The final wave labelled e is travelling towards 20.04 cents, the 38.2 percent Fibonacci retracement on the uptrend from the Feb. 19 low of 13.48 cents to the Sept. 29 high of ...

Markets - Commodities - Americas

NY coffee to test $1.5745 SINGAPORE: New York December coffee is expected to test the Nov. 14 low of $1.5745 per lb, a break below which could cause a loss to $1.5440.The downtrend from the Nov. 8 high of $1.76 has been developing within a channel, which indicates an aggressive target around $1.50. The trend consists of five waves and the final wave, labelled e, is unfolding towards $1.5745.A Fibonacci retracement analysis on the uptrend from the March 1 low ...

Markets - Commodities - Americas

CBOT wheat ends lower in rangebound trade, led by corn, soy CHICAGO: Wheat futures on the Chicago Board of Trade fell Wednesday on spillover weakness from corn and soybeans and pressure from a resurgent US dollar, traders said.The US dollar index hit a near 14-year high on the expectation increased U.S government spending could trigger higher inflation. A stronger dollar tends to make US grains less attractive on the world market.CBOT December wheat settled down 2 cents at $3.97 per bushel, but stayed within the previous ...