05022016Mon
Last update: Mon, 02 May 2016 08am

Americas

Markets - Commodities - Americas

CBOT wheat climbs to one-week high, led by corn and soy CHICAGO: Chicago Board of Trade wheat futures climbed to a one-week high on Wednesday, swept up by sharp advances in corn and soy futures, traders said.* Commodity funds hold a large net short position in CBOT and K.C. wheat, leaving the markets vulnerable to bouts of short-covering.* Rally limited by plentiful domestic and global wheat supplies, as reflected in the USDA's monthly supply/demand report on Tuesday.* Also, rains expected late this week in portions of the southern US Plains winter wheat belt should ease concerns about dry conditions.* CBOT May wheat settled up 9 cents at $4.61-1/2 per bushel. K.C. hard red winter and MGEX spring wheat futures also closed higher but trailed the gains in the Chicago market.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

CBOT soy extends climb on chart buying, Argentina worries CHICAGO: Chicago Board of Trade soybean futures soared more than 2 percent on Wednesday, reaching a fresh eight-month top on chart-based buying and concerns about South American supplies, traders said.* Heavy rains have ruined the harvest of nearly 5 percent of Argentina's soybean farms and could damage even more of the 2015-16 crop if rains extend into next week as expected.* Also bullish, China's March soybean imports climbed to 6.1 million tonnes, setting a record ...

Markets - Commodities - Americas

CBOT corn surges, extending gains on technicals, weather CHICAGO: Chicago Board of Trade corn futures soared 3 percent to the highest levels in 2-1/2 months on Wednesday, lifted by technical buying and adverse crop weather conditions in South America, traders said.* Front-month CBOT May corn has gained eight out of the last nine sessions, in a rebound from lifetime lows reached on April 1. The contract knocked out highs of $3.74 per bushel reached on March 30 and also surpassed their 100-day moving ...

Markets - Commodities - Americas

NY sugar may slide more towards 13.85 cents SINGAPORE: New York sugar may slide further towards 13.85 cents per lb, to complete a five-wave cycle.The cycle developed from the March 30 high of 16.15 cents. Sugar is riding on the final wave labelled 5. A Fibonacci projection analysis on the target of this cycle reveals sugar has broken a support at 14.12 cents, the 176.4 percent level. Itis heading towards the 200 percent level at 13.85 cents.The bullish divergence on the hourly MACD ...

Markets - Commodities - Americas

NY coffee may rise to $1.2785 SINGAPORE: New York coffee may rise to $1.2785 per lb, as it has briefly pierced above a resistance at $1.2450 twice.The resistance is provided by the 23.6 percent Fibonacci projection level of an upward wave C, the third wave of a three-wave cycle from Jan. 20 low of $1.1335. Only a shallow correction was caused, following coffee's first failure to break this resistance.With the correction having been more or less reversed, the wave C could ...

Markets - Commodities - Americas

NY cocoa faces resistance at $2,936 SINGAPORE: New York cocoa faces a resistance at $2,936 per tonne, a break above which could lead to a gain to the next resistance at $2,969. These resistances are identified respectively as the 38.2 percent and the 23.6 percent Fibonacci projection levels of a downward wave c, the third wave of a three-wave cycle from the March 18 high of $3,148.The contract failed to break the resistance at its first attempt, but it has better ...

Markets - Commodities - Americas

Gold steadies below 3-week high, silver hits 5-1/2-month high NEW YORK/LONDON: Gold was flat after rising to three-week highs on Tuesday as the dollar nudged up from a near 8-month low against a basket of currencies, with the rally in oil helping to improve risk appetite, while silver rose to a 5-1/2-month high.Spot gold touched a high of $1,262.60 an ounce before easing back to $1,257.01 by 3:49 p.m. EDT (1949 GMT), little changed from late on Monday. U.S. gold futures for June delivery ...