05062016Fri
Last update: Fri, 06 May 2016 02am

Americas

Markets - Commodities - Americas

Cocoa falls on heavy chart-based selling, sugar steadies NEW YORK/LONDON: Heavy chart-based selling by speculators pushed cocoa futures on ICE lower on Wednesday, with industry buying preventing steeper losses, while raw sugar futures stayed near contract lows ahead of production data from top grower Brazil later this week. Robusta coffee finished higher as the July/September spread rose to a contract high ahead of the spot contract's expiry at the end of the month. Arabica fell after seesawing in a market lacking direction. New York cocoa fell $58 per tonne in just one minute at 8:38 a.m. EDT (1238 GMT), triggering "thousands" of automatic sell orders below last week's low, traders said. At one point, the contract was down $100 to a session low. September New York cocoa settled down $59, or 1.8 percent, at $3,277 a tonne. Total volume was double the average. Industry buying was seen preventing deeper losses. "They have some catching up to do because ...

Markets - Commodities - Americas

Corn, wheat futures fall on favorable US Midwest weather CHICAGO: US corn futures were mostly lower on Wednesday, pressured by good weather for crop development across the US Midwest, traders said. The benign conditions also weighed on wheat, which eased as the pace of harvest in eastern growing areas increased. Soybean futures were mixed. The nearby contract firmed on support from strength in the cash market, where light farmer selling of soybeans caused processors to boost their bids. Deferred soybean contracts fell on improving ...

Markets - Commodities - Americas

Palm oil ticks up as Malaysia's July output seen falling NEW DELHI: Malaysian palm oil edged higher on Tuesday, climbing from the last session's 1-1/2-week low on expectations of a drop in output due to holidays at the end of the Muslim fasting month of Ramadan.Palm oil for October delivery on Bursa Malaysia Derivatives added 30 ringgit, or 1.37 percent, to 2,219 ringgit a tonne by the close.The contract dropped as low as 2,165 ringgit a tonne on Monday, its lowest since July 9."Producers are ...

Markets - Commodities - Americas

Corn, soybeans firm after hitting multi-week lows; wheat weak CHICAGO: Chicago Board of Trade corn and soybean futures rose on Tuesday, supported by a round of bargain buying after prices for both commodities fell to their lowest levels since late June, traders said. Wheat remained weak, with the front-month contract on track for its sixth straight lower close on poor export demand for US supplies. Firm cash markets lent further support to corn and soybeans. Country movement has slowed in recent days as the ...

Markets - Commodities - Americas

NY coffee to test resistance at $1.3030 SINGAPORE: New York Sept. coffee is expected to test a resistance at $1.3030 per lb, a break above which could lead to a gain to $1.3230.The resistance is provided by the 38.2 percent Fibonacci retracement on the fall from the June 10 high of $1.41 to the July 7 low of $1.2365, blocking the way towards the 50 percent level at $1.3230.The pullback towards the 23.6 percent level at $1.2775 has completed and coffee is ...

Markets - Commodities - Americas

Gold climbs from four-month low on Chinese recovery NEW YORK/LONDON: Gold pared gains on Thursday after climbing from the prior session's four-month low as a recovery in Chinese shares cooled fears of a wider rout in the major bullion consumer while strength in the U.S. dollar kept a lid on gains.The gold market was subdued after minutes from the U.S. Federal Reserve's last meeting, released on Wednesday, suggested caution towards a near-term increase in interest rates.Spot gold was up 0.3 percent at $1,160.96 ...

Markets - Commodities - Americas

NY coffee to test support at $1.2575 SINGAPORE: New York September coffee is expected to test support at $1.2575 per lb, with a good chance of breaking below this level and falling more towards the next support at $1.2375.These two supports are provided respectively by the 76.4 percent and the 86.4 percent Fibonacci projection levels of a wave c, the third of a three-wave cycle that developed from the May 19 high of $1.4625.The drop on July 1 has confirmed the extension ...