05262016Thu
Last update: Thu, 26 May 2016 07am

Americas

Markets - Commodities - Americas

Wheat falls on technical selling, rainy forecasts CHICAGO: US soft red wheat futures fell 2 percent on Wednesday on profit-taking coupled with forecasts for beneficial rains next week in parts of the southern Plains and the Black Sea region, analysts said.Corn fell in sympathy with wheat and amid US harvest progress while soybeans were choppy, one day after surging nearly 3 percent.At the Chicago Board of Trade as of 12:42 p.m. CDT (1742 GMT), December wheat was down 10-1/4 cents at $5.08-3/4 per bushel.CBOT December corn was down 5 cents at $3.79-1/2, and November soybeans were down 1/4 cent at $9.13-3/4 a bushel.Wheat posted the largest move, but some traders viewed the selloff as technical in nature. Others noted forecasts for showers next week in portions of the southern US Plains, where dry conditions have hindered wheat planting and germination."They are talking about a little better weather for both the US Plains and former Soviet Union areas. ...

Markets - Commodities - Americas

Raw sugar jumps near 8-month high as Brazilian real climbs NEW YORK/LONDON: Raw sugar futures on ICE neared last week's eight-month high on Wednesday, rising for the first time in three sessions on support from the firm Brazilian currency and strengthening charts.Cocoa futures fell below strong resistance levels, despite strong European grind data, while arabica coffee was little changed after failing to make a new two-month high.Sugar rallied, with much of the day's gains taking place during the settlement window, lifting the spot contract back ...

Markets - Commodities - Americas

NY sugar targets 13.30 cents SINGAPORE: New York March sugar is expected to break support at 13.73 cents per lb and fall towards the next support at 13.30 cents.The depth of the fall from the Oct. 9 high of 14.43 cents suggests a reversal of the uptrend from the Sept. 22 low of 11.48 cents.A Fibonacci retracement analysis on the trend reveals an immediate support at 13.73 cents, the 23.6 percent level.A drop to 13.69 cents may confirm a break ...

Markets - Commodities - Americas

NY cocoa may fall to $3,072 SINGAPORE: New York December cocoa may break support at $3,100 per tonne and fall towards the next support at $3,072, as suggested by a Fibonacci retracement analysis and an inverted head-and-shoulders.The analysis is on the downtrend from the Sept. 18 high of $3,341 to the Oct. 12 low of $3,026. It reveals resistance at $3,146, the 38.2 percent level, which has caused a correction.The correction could be a part of the right shoulder of an ...

Markets - Commodities - Americas

NY sugar's target at 14.66 cents intact SINGAPORE: A bullish target at 14.66 cents per lb remains unchanged for New York March sugar, as indicated by a Fibonacci retracement analysis.The analysis is on the downtrend from the June 26, 2014 high of 20.13 cents to the Aug. 24, 2015 low of 11.28 cents. It reveals a few key levels that control sugar's move.One of these levels is at 12.57 cents, the 14.6 percent retracement, around which the first round of rebound ended. ...

Markets - Commodities - Americas

Soybeans extend gains on lower forecast of U.S. crop HAMBURG: Chicago soybean futures rose again on Monday, underpinned by a U.S. Department of Agriculture (USDA) report which surprised the market by estimating a lower U.S. soybean crop and a smaller planted area than expected."Soybeans and corn are both supported today by positioning after the USDA's U.S. crop forecasts on Friday," said Frank Rijkers, agrifood economist at ABN AMRO Bank. "Wheat is drifting down as more weather news is awaited and while export demand for ...

Markets - Commodities - Americas

Soybeans stumble ahead of USDA crop reports CHICAGO: US soybean futures weakened for the second consecutive session on Friday as traders stepped back from the market while waiting for the US Agriculture Department to issue key crop data. Corn and wheat futures were mixed. Trading was choppy, with positioning ahead of monthly USDA reports on crop production, supplies and demand overshadowing a sale of 360,000 tonnes of US soybeans to top-importer China. Many traders moved to the sidelines ahead of the release ...