07282016Thu
Last update: Thu, 28 Jul 2016 05pm

Asia

Markets - Commodities - Asia

CBOT soybeans signals mixed SINGAPORE: Signals are mixed for CBOT soybeans November contract, as it has stabilized around the July 15 low of $10.32-1/2 per bushel.The stabilization indicates an extension of the uptrend from the July 8 low of $10.21, which may consist of three small waves, with the third wave labelled c having just started.However, the extension could only be confirmed when the contract breaks $10.67, the 38.2 percent Fibonacci retracement on the fall from the July 14 high of $11.23 to $10.32-1/2.In the meantime, the bounce from $10.32-1/2 seems to be developing within a small triangle, which looks like a bearish continuation pattern, suggesting a following drop.Copyright Reuters, 2016 ...

Markets - Commodities - Asia

Soybeans, corn sag as US crops boom in friendly weather SINGAPORE: Chicago soybeans and corn futures lost ground on Tuesday after US government's weekly report showed both crops thriving in near-perfect weather, although expectations of hot-dry weather in weeks ahead limited losses.Wheat slid, falling for a third session out of four, with abundant global supplies of the grain anchoring prices.Chicago Board of Trade most-active corn contract fell 1 percent to $3.59-3/4 a bushel by 0311 GMT, having gained 1.4 percent in the previous session.Soybeans lost ...

Markets - Commodities - Asia

US corn rises as focus turns to hot weather, demand SINGAPORE/PARIS: Chicago corn rose on Monday with the market snapping two sessions of declines as forecasts of hot and dry weather in the US Midwest raised concerns about yield losses amid strong demand.Wheat rose on the gains in corn, although ample supplies kept a lid on the market, while soybeans fell in volatile trade."The corn and soybean markets are currently being tossed back and forth by varying weather forecasts. Sentiment is alternating as investors weigh ...

Markets - Commodities - Asia

Copper slips for 2nd day on dollar, market eyes stimulus SINGAPORE: London copper fell for a second consecutive session on Monday, with a firmer dollar weighing on prices, although expectations of economic stimulus in top consumer China kept a floor under the market. The US dollar gained on the yen as investors unwound safe-haven trades in the wake of the failed coup in Turkey, while a giant takeover bid in the tech sector and the promise of central bank stimulus lent support to equities.Three-month copper ...

Markets - Commodities - Asia

China steel-linked commodities futures tumble, on expectation gains outpacing physical demand SHANGHAI: Chinese steel-related commodities futures dived on Monday, erasing last week's rally as investors felt the previous gains outpaced physical demand for steel in China, the world's top producer. The October benchmark rebar contract on the Shanghai Futures Exchange and September iron ore contract on the Dalian Commodity Exchange deepened losses in the afternoon trading, hitting downside limit of 6 percent by close.Rebar was at a one-week low of 2,362 yuan ($352.61) a tonne and ...

Markets - Commodities - Asia

India's PEC issues tender to import 40,000 tones corn HAMBURG: Indian state-run trading company PEC has issued a new international tender to buy and import 40,000 tonnes yellow corn (maize), European traders said on Monday. The tender closes on July 22 and offers must remain valid up to July 29, they said.PEC had on Friday also issued a tender to buy 80,000 tonnes of yellow corn closing on July 21 and with offers remaining valid up to July 24, while the state-run Trading Corp ...

Markets - Commodities - Asia

South Korea's KOMIPO buys coal, WP passes for Sept-Oct SEOUL: South Korea's Korea Midland Power Co Ltd (KOMIPO) bought a total of 500,000 tonnes of coal, while Korea Western Power Co Ltd (WP) declined to purchase a combined 220,000 tonnes of coal due to high prices, sources from the utilities said on Monday.KOMIPO bought Australian coal for shipping between September and October, a source from the utility said without giving details of the price.It initially sought to purchase another 280,000 tonnes of low calorific ...