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Palm falls for 2nd day on external pressures; tight supplies anticipated KUALA LUMPUR: Malaysian palm oil futures fell for a second day on Tuesday, following losses in Chinese soy markets and on worries of bumper soy crops, although anticipation of tighter palm supplies curbed losses and kept prices stuck in a tight range.By the midday break, the benchmark October contract on the Bursa Malaysia Derivatives Exchange had edged down 0.4 percent to 2,287 ringgit ($720) per tonne, with prices locked between 2,282 and 2,293 ringgit.While bearish external factors such as forecasts for an excellent soybean harvest and weakness in comparative soyoil markets continue to weigh on palm, market participants said prices were underpinned by prospects of a palm oil supply squeeze in the coming months."Prices are drifting sideways now - external conditions are bearish, but palm is friendly," said a trader with a foreign commodities brokerage in Kuala Lumpur."At these levels, you can see a lot of buying coming in. We ...

Tokyo futures recover to end little changed TOKYO: Benchmark Tokyo rubber futures ended little changed on Tuesday, erasing earlier losses helped by a weaker yen and the strength in Shanghai futures, dealers said.The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for December delivery rose 0.1 yen to settle at 202.3 yen ($1.99) per kg. TOCOM markets were closed on Monday due to a national holiday.The contract touched an intraday low of 199.7 yen, the lowest since last Thursday."It started lower ...
NY cocoa may test resistance at $3,142 SINGAPORE: New York September cocoa may test a resistance at $3,142 per tonne, a break above which will lead to a further gain to $3,174.The resistance has been formed around the 38.2 percent Fibonacci projection level of a presumed wave c starting at the June 25 low of $3,040. The big gain on July 21 signals a resumption of the wave c. A rise above the July 3 high of $3,149 will confirm the break ...
China iron ore, steel extend losses to hit 1-month lows SINGAPORE: Steel and iron ore futures in China fell to one-month lows on Monday, stretching steep losses from the prior session, weighed down by slow demand that has kept steel traders from replenishing inventories and iron ore stocks at ports high.Stocks of five major steel products held by Chinese traders fell to 13.13 million tonnes on Friday, according to industry consultancy Mysteel. That is the lowest inventory level since December 2012, said Helen Lau, analyst ...
Palm falls as weak soy, strong ringgit drag; exports support KUALA LUMPUR: Malaysian palm oil futures edged down on Monday, adding to losses after three straight weeks of declines, as weakness in comparative soyoil markets and a firm ringgit weighed, although an uptick in export data curbed the fall.Cargo surveyor Intertek Testing Services reported that exports of Malaysian palm oil products during July 1-20 rose 7.8 percent to 868,843 tonnes from a month ago, due to bigger shipments to Europe and China. Exports to China ...
LME copper to fall to $6,891 SINGAPORE: LME copper is expected to fall to $6,891 per tonne, as it has broken below a support at $7,025. The support was provided by the 61.8 percent Fibonacci retracement on the fall from the Jan. 2 high of $7,460 to the March 19 low of $6,321. The next support will be at $6,891, the 50 percent retracement. The fall seems to have accelerated, as indicated by the big loss on July 18, as a ...
Spot gold to hover above $1,305 SINGAPORE: Spot gold has found a support at $1,305 per ounce, and may hover above this level for half or one trading session before falling more.The support has been identified as the 38.2 Fibonacci retracement on the rise from the June 3 low of $1,240.61 to the July 10 high of $1,345. Wave pattern indicates gold is riding on a powerful wave (3), the third wave of a big bearish five-wave cycle.A drop to $1,300 ...


Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52

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