09292016Thu
Last update: Thu, 29 Sep 2016 01am

Americas

Markets - Commodities - Americas

Wheat hits one-week high as US weather triggers short-covering CHICAGO: US wheat futures climbed to their highest in 1-1/2 weeks on Thursday as expanding dryness in the southern Plains hard wheat belt triggered a round of short-covering, traders and analysts said.Traders were also concerned about a threat of flooding in the Mississippi River Delta region, which grows soft red wheat, the type traded at the Chicago Board of Trade.Soybean futures were higher while corn was mixed in choppy trade.At the CBOT as of 12:55 p.m. CST (1855 GMT), May wheat was up 8-3/4 cents at $4.59 per bushel after reaching $4.62, its highest since Feb. 23.May soybeans were up 2-1/2 cents at $8.64 a bushel and May corn was down 3/4 cent at $3.55-1/2 a bushel.Commodity funds hold a near record-large net short position in CBOT wheat, leaving the market vulnerable to short-covering rallies.The market rose on concerns about dry conditions in the southern Plains. The weekly US Drought ...

Markets - Commodities - Americas

Gold climbs toward $1,260/oz as the dollar drops NEW YORK/LONDON: Gold rose back towards $1,260 an ounce on Thursday, coming within a hair of a 13-month high as the dollar was on track to make its biggest one-day tumble in a month after U.S. data fueled worries over Friday's U.S. payrolls data.Spot gold was up 1.4 percent at $1,257.81 an ounce by 2:14 p.m. EST (1914 GMT), after rising to a session high at $1,259.41, roughly $1 from last month's one-year high.U.S. gold ...

Markets - Commodities - Americas

NY sugar faces resistance at 14.70 cents SINGAPORE: New York May sugar faces resistance at 14.70 cents per lb, a break above which could lead to a gain to the next resistance at 14.98 cents.These two resistances are identified respectively as the 76.4 percent and the 86.4 percent Fibonacci retracements on the fall from the Dec. 4, 2015 high of 15.35 cents to the Feb. 19 low of 12.61 cents.A rise to 14.76 cents may confirm a break above 14.70 cents. However, ...

Markets - Commodities - Americas

NY coffee to drop to $1.1520 before retesting $1.1630 SINGAPORE: New York May coffee is expected to seek support around $1.1520 per lb and then retest a resistance at $1.1630, as indicated a Fibonacci retracement analysis.A five-wave cycle from the Feb. 22 high of $1.2105 has completed and will be reversed further. The Fibonacci retracement analysis on the cycle suggests a target zone of $1.1725-$1.1815, formed by the 50 percent and the 61.8 percent retracements.The analysis also reveals resistance at $1.1630, the 38.2 percent ...

Markets - Commodities - Americas

US wheat rallies after multiyear lows; soy, corn firm CHICAGO: Chicago Board of Trade wheat futures rallied to close higher on Wednesday as traders covered short positions following the market's drop to its lowest level in nearly six years.Soybean futures also advanced on bargain buying, halting a six-session slide, while corn settled fractionally higher.At the CBOT, May wheat finished up 4-1/4 cents at $4.50-1/4 per bushel after dipping to $4.42-1/4, a contract low and the cheapest price for a most-active contract since June 2010.May ...

Markets - Commodities - Americas

Gold rebounds as dollar falls; shrugs off firm equities, US data NEW YORK/LONDON: Gold rebounded on Wednesday as the US dollar turned lower, shrugging off a turn higher in global shares and better-than-expected U.S. economic data.Spot gold, lower initially, rose 0.8 percent to $1,241.70 an ounce by 3:14 p.m. EST (2014 GMT), while U.S. gold futures for April delivery settled up 0.9 percent at $1,241.80 an ounce."Gold has clawed back yesterday's losses despite hawkish comments from San Francisco Fed's Williams, a strong ADP number, higher yields, ...

Markets - Commodities - Americas

Raw sugar climbs to 8-week high as supplies tighten NEW YORK/LONDON: Raw sugar futures extended gains to an eight-week high on Wednesday, with supplies tightened by drought-hit crops in Thailand and India, and the prospect of increased use of Brazilian cane by the ethanol sector, dealers said.Arabica coffee futures turned higher on Wednesday after buying emerged just above contract lows for the second consecutive day while London cocoa retreated from a four-week high set earlier this week.May raw sugar settled up 0.28 cent, or ...