07252016Mon
Last update: Mon, 25 Jul 2016 10pm

Americas

Markets - Commodities - Americas

NY coffee may test support at $1.4470 SINGAPORE: New York September coffee may test a support at $1.4470 per lb, a break below which could cause a loss to the next support at $1.4230.The support is provided by the 50 percent Fibonacci retracement on the uptrend from the June 27 low of $1.3460 to the July 15 high of $1.5480.The bounce caused by the support has been shaped into a triangle, which could be a typical continuation pattern. It is expected to be followed by another round of drop towards $1.4230, the 61.8 percent level.The triangle consists of three waves. It is unlikely to develop one more wave towards $1.5005, the 23.6 percent level. Most likely, the contract will drop below the lower trendline of the pattern.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

CBOT soybeans to fall to $9.80 SINGAPORE: CBOT soybeans November contract may break a support at $9.96-1/2 per bushel and fall more to the next support at $9.80, as suggested by its wave pattern and a Fibonacci projection analysis.The contract is riding on downward wave C, the third wave of a three-wave cycle from the June 13 high of $11.86-1/4. This wave is capable of travelling to $9.57-3/4, its 100 percent projection level.A more realistic target could be $9.80, the 86.4 ...

Markets - Commodities - Americas

CBOT corn may drop to $3.28-1/2 SINGAPORE: CBOT December corn may drop to $3.28-1/2 per bushel as it has broken a support at $3.40-1/2.The support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the June 17 high of $4.49. This wave is capable of traveling to $3.16-1/4, its 61.8 percent Fibonacci projection level. A more realistic target could be $3.28-1/2, the 50 percent level.Resistance is at $3.46, ...

Markets - Commodities - Americas

CBOT wheat may retest support at $4.06-1/2 SINGAPORE: CBOT Sept. wheat may retest a support at $4.06-1/2 per bushel, as it could have completed a bounce caused by this level.For a chart: http://tmsnrt.rs/29PFLTxThe support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the June 8 high of $5.33-3/4.The bounce from $4.06-1/2 could be broken down into three small waves, with the third wave labelled c having stopped around ...

Markets - Commodities - Americas

Argentina raises its view of 2015-16 soybean and corn crops LIMA: Argentina's 2015-16 soybean crop is expected at 58.8 million tonnes, the Agriculture Ministry said on Thursday, revising its previous estimate of 58 million tonnes. The ministry also raised its forecast for the 2015-16 corn crop to 39.8 million tonnes from 37.9 million and said it now sees the wheat planting area at 5.25 million hectares, down from 5.34 million before. Copyright Reuters, 2016 ...

Markets - Commodities - Americas

US corn stakes out fresh lows, soybeans edge higher CHICAGO: US corn futures fell for the third day in a row on Thursday, with good weather for crop development in the U.S. Midwest and poor exports pushing prices to their lowest in nearly two years.Wheat futures also weakened but soybeans firmed, supported by signs that overseas buyers were looking to the United States to fill gaps caused by shortfalls in the Argentine crop, traders said.The latest U.S. weather view calls for high temperatures currently ...

Markets - Commodities - Americas

CBOT corn may bounce into $3.50-1/2 to $3.56 range SINGAPORE: CBOT December corn may bounce into a range of $3.50-1/2 to $3.56 per bushel as it has found a support at $3.40-1/2.The support is provided by the 38.2 percent Fibonacci projection level of a downward wave C, the third wave of a three-wave cycle from the June 17 high of $4.49.This barrier has caused a bounce towards the range formed by the 23.6 percent and the 38.2 percent Fibonacci retracements on the drop from ...