05012016Sun
Last update: Sun, 01 May 2016 11am

Americas

Markets - Commodities - Americas

NY cocoa still targets $3,142-$3,159 range SINGAPORE: New York July cocoa still targets a range of $3,142-$3,159 per tonne, as the correction from the April 27 high of $3,219 seems to be incomplete. The correction looks like a pullback toward the March 18 high of $3,147, which falls into the target zone formed by the 161.8 percent and the 176.4 percent Fibonacci projection levels of the wave 3 - the third wave of a five-wave cycle from the April 13 low of $2,914.This wave has not completed, as it may travel to $3,259, the 261.8 percent level. A rise above the 214.6 percent level at $3,204 could confirm the continuation of this wave towards a realistic target at $3,232, the 238.2 percent level.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

CBOT soybeans mixed; soymeal rallies; soyoil weakens CHICAGO: Chicago Board of Trade soybean futures were mixed on Thursday, with the front month contract easing on a profit-taking setback after hitting its highest since August while deferred contracts firmed slightly on signs of good export demand.Strong gain in soymeal added support to soybeans.Soymeal futures, which also hit their highest since August, rose 1.7 percent. Soymeal futures have risen for seven of the last eight sessions.Soyoil futures weakened, shrugging off a rally in the ...

Markets - Commodities - Americas

US corn export sales hit 4-year high on Brazil woes CHICAGO: US corn export sales surged 80 percent to the largest levels in four years, US Department of Agriculture data showed on Thursday, as tight supplies and dry growing conditions in Brazil prompted importers to buy from the United States. Sales of 2.6 million tonnes for the week ended April 21, for delivery during the existing marketing season and the season beginning on Sept. 1, included the largest weekly corn sales to Japan in more ...

Markets - Commodities - Americas

Corn, soy, wheat surge as export demand heats up CHICAGO: US corn, soybean and wheat futures rallied sharply on Thursday, fuelled by signs of strong export demand, traders said. Concern about crops in South America sparked interest in US supplies from overseas buyers, who typically source the bulk of their corn and soybeans needs from Brazil and Argentina at this time of year. "The exports were a big wake-up call," said Mark Schultz, chief analyst at Northstar Commodity Investment Co.Chicago Board of Trade front-month ...

Markets - Commodities - Americas

CBOT soybeans may revisit April 27 low of $10.02 SINGAPORE: CBOT soybeans May contract may revisit its April 27 low of $10.02 per bushel, as it failed to break a resistance at $10.17-3/4.The resistance is provided by the 176.4 percent Fibonacci projection level of an upward wave c, the third wave of a three-wave cycle from the March 2 low of $8.56.Soybeans failed to break this resistance after several attempts, signalling the rise from the April 25 low of $9.77-1/4 could be just a ...

Markets - Commodities - Americas

CBOT corn may fall to $3.73-1/2 SINGAPORE: CBOT corn may fall to a support at $3.73-1/2 per bushel, as its correction from the April 25 high of $3.85 seems to be incomplete.The correction could consist of three waves, with the third wave labeled c traveling towards the support at $3.73-1/2, the 61.8 percent Fibonacci retracement on the uptrend from the April 11 low of $3.56 to the April 21 high of $4.02.This support is strengthened by another similar one provided by ...

Markets - Commodities - Americas

CBOT wheat may retrace into $4.65-1/4 to $4.69 range SINGAPORE: CBOT wheat may retrace further into a range of $4.65-1/4 to $4.69 per bushel, as it failed to break a resistance at $4.80-1/2.The resistance is provided by the 38.2 percent Fibonacci retracement on the fall from the April 21 high of $5.10-3/4 to the April 25 low of $4.62. It has caused a correction towards the range formed by the 7 percent and the 14.6 percent retracements.A rise to $4.76 could signal wheat's attempt ...