01172017Tue
Last update: Tue, 17 Jan 2017 07am

Americas

Markets - Commodities - Americas

CBOT soybeans, soymeal, soyoil close lower CHICAGO: US soybean futures fell 1.5 percent on Tuesday on a profit taking setback after rallying to a 15-month high during the overnight trading session.Soymeal and soyoil futures also weakened. Soymeal's lower close snapped a six-session streak of gains.Soyoil fell for the fifth straight day, with the most actively traded contract hitting its lowest since March 14.A sharp drop in the crude oil market added pressure to the soy complex.Losses were kept in check by concerns about the South American crop.Closely watched crop forecaster Informa Economics on Tuesday lowered its outlook for the Argentine bean crop to 55.0 million tonnes from 59.5 million. It also trimmed its Brazil soybean production view to 100.1 million tonnes from 100.5 million.Traders also noted support for CBOT July soybeans at the 10-day moving average, which the contract has not closed below since April 7. Copyright Reuters, 2016 ...

Markets - Commodities - Americas

Sugar dips, near five-week high, coffee flat NEW YORK: Raw sugar futures on ICE eased on Tuesday but remained near a five-week high, ignoring news that India would revoke an export order due to tight domestic supplies, while arabica coffee was little changed near a two-month low. Cocoa dipped, with downside limited by a slowdown in bean arrivals at ports in top grower Ivory Coast. London softs markets readjusted after being shut on Monday for the May Day holiday. Raw sugar futures ...

Markets - Commodities - Americas

CBOT Trends-Wheat steady-up 1pc, corn down 1-2, soy up 4-6 CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Tuesday. WHEAT - Steady to up 1 cent per bushel Choppy; retreating from overnight advances amid plentiful global supplies and mostly favorable conditions in the US Plains and Midwest. Market underpinned by a softer dollar, which makes US grain more attractive to those holding other currencies. The ...

Markets - Commodities - Americas

NY July sugar may retrace to 15.98 cents before rising SINGAPORE: New York July sugar may retrace slightly further to a support at 15.98 cents per lb, to complete a correction from the May 2 high of 16.47 cents, before rising again.The support is provided by the 23.6 percent Fibonacci projection level of an upward wave 3, the third wave of a five-wave cycle from the April 14 low of 14.30 cents.This wave is far from complete, as it could at least travel to 17.36 ...

Markets - Commodities - Americas

NY coffee to fall to $1.1815 SINGAPORE: New York July coffee is expected to fall to $1.1815 per lb, as it has cleared a support at $1.2065.The support was provided by the 61.8 percent Fibonacci projection level of a downward wave c, the third wave of a three-wave cycle from the March 23 high of $1.3820.The next support will be at $1.1815, the 76.4 percent level, a break below which could cause a loss to the 86.4 percent level at $1.1645. ...

Markets - Commodities - Americas

CBOT soybeans may rise to $10.60-3/4 SINGAPORE: CBOT soybeans July contract may rise to $10.60-3/4 per bushel, as it has cleared a resistance at $10.44-3/4.The resistance was provided by the 200 percent Fibonacci projection level of an upward wave c, the third wave of a three-wave cycle from the March 2 low of $8.62.The next resistance will be at $10.60-3/4, the 223.6 percent level, a break above which could lead to a gain to the 238.2 percent level. A triangle forming ...

Markets - Commodities - Americas

CBOT corn targets $3.98-3/4 SINGAPORE: CBOT July corn may break a resistance at $3.93-3/4 per bushel and rise more towards the next resistance at $3.98-3/4, driven by a wave (3)-3.This is the third wave of a five-wave cycle from the April 25 low of $3.72. It has a fierce character and may easily break the resistance at $3.93-3/4, the 61.8 percent Fibonacci retracement on the fall from the April 21 high of $4.07-1/4 to $3.72. The next resistance will ...