Saturday, 21 July 2012 01:37
Posted by Abdul Ahad
NEW YORK: Cotton futures rose for a third consecutive session on Friday as fibers continued to get a fillip from the soaring grains market and early, tentative supply fears emerged after exchange stocks sank to February lows.
The gains bucked an otherwise dismal sentiment across commodities and financial markets which were spooked about the euro-zone debt crisis after a Spanish region asked for financial aid on Friday.
The benchmark December cotton contract on ICE Futures US nudged 0.43 percent higher to settle at 72.94 cents per lb, after hitting an intraday high of 73.29 cents late in the day.
Trading volume was particularly low though at just over 9,000 lots, with some traders sitting on the sidelines unsettled by the range-bound prices over the past three weeks.
The most-active contract has been trapped in a 4-cent range since the start of July, but spreads with March have narrowed dramatically reflecting early underlying concern about ...
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NEW YORK: Cotton futures rose for a third consecutive session on Friday as fibers continued to get a fillip from the soaring grains market and early, tentative supply fears emerged after exchange stocks sank to February lows.
The gains bucked an otherwise dismal sentiment across commodities and financial markets which were spooked about the euro-zone debt crisis after a Spanish region asked for financial aid on Friday.
The benchmark December cotton contract on ICE Futures US nudged 0.43 percent higher to settle at 72.94 cents per lb, after hitting an intraday high of 73.29 cents late in the day.
Trading volume was particularly low though at just over 9,000 lots, with some traders sitting on the sidelines unsettled by the range-bound prices over the past three weeks.
The most-active contract has been trapped in a 4-cent range since the start of July, but spreads with March have narrowed dramatically reflecting early underlying concern about ...
NEW YORK: Gold edged up on Friday on improved market sentiment after Russia revealed it had boosted its bullion reserves in June, but losses in equities and other commodities amid uncertainty over the euro zone debt crisis limited further gains.
The metal fell in early trade as the euro tumbled after Spain's Valencia region said it would seek central government help to repay its debts, heightening fears over the fiscal problems of the euro zone's fourth-largest ...
NEW YORK/LONDON: Cocoa futures settled mixed on Friday following varied global grindings results, clouding the outlook for demand, while sugar hit a fresh three-month high on concerns about the later-than-usual monsoon in No. 2 grower India.
Coffee futures edged lower on pressure from the rallying US dollar.
Cocoa futures were slightly higher after Asia's grindings rose and North America's grind fell sharply in its biggest drop in more than three years.
ICE September cocoa futures inched down $1 ...
NEW YORK: Cotton futures rose almost 1 percent on Thursday on the soaring grains market and as investors shifted their weather watch to India where brokers fear weak monsoon rains could hurt output from one of the world's largest producers.
Concerns are mounting about a drought in India after rainfall was 22 percent below average across the country in the week to July 18.
While the cotton-growing areas are mainly well irrigated, it has not stopped the ...
NEW YORK/LONDON: Raw sugar futures on ICE settled at a three-month high in choppy dealings on Thursday, while coffee surged on spillover support from gains in agriculture commodities.
Cocoa futures also moved higher.
"The rise in soft commodities is primarily on the back of higher agricultural markets," said Sudakshina Unnikrishnan, a soft commodities analyst with Barclays Capital.
The Thomson Reuters-CRB index, a benchmark for global commodities, jumped 1.9 percent to a 2-1/2-month high at 304.85.
Corn and soybeans soared ...
BUENOS AIRES: Argentina will plant 22 percent less wheat this season than it did in the previous crop year, a key local exchange said on Thursday, feeding a world rally in grains prices sparked by dry and hot US farm weather.
Argentina is the world's No. 6 wheat exporter and the top supplier to neighboring Brazil. With Chicago Board of Trade wheat futures already at four-year highs, a shortfall in global wheat seedings and output could ...
CHICAGO: Corn and soybeans soared to record highs on Thursday as their meteoric month-long rally fueled by a worsening US farm-belt drought stirred fears of a food crisis like in 2008 when riots broke out in some countries.
Updated weather forecasts called for light rains in Michigan, Indiana and Ohio on Thursday, but large swaths of the Midwest, which accounts for three-quarters of the corn and soybeans produced in the United States, will remain dry.
As prices ...
