08282016Sun
Last update: Sun, 28 Aug 2016 07pm

Asia

Markets - Commodities - Asia

Palm records biggest gains in nearly a year on firmer rival oils, exports KUALA LUMPUR: Malaysian palm oil futures made their biggest gains in nearly a year, charting a second positive session on Monday evening, tracking firmer competing vegetable oils and supported by strong export data.Benchmark palm oil futures for October on the Bursa Malaysia Derivatives Exchange surged 3.8 percent to 2,622 ringgit ($655) per tonne at the end of the trading day. Palm earlier reached a 10-week top of 2,633 ringgit, its highest since June 7. Palm's rise on Monday was its strongest since Sept. 25.Traded volumes stood at 65,845 lots of 25 tonnes each in the evening, higher than the 2015 average of 44,600."Overseas commodities are firm," said a futures trader from Kuala Lumpur, referring to palm's rival oils such as soybean oil on the Chicago Board of Trade and the Dalian Commodity Exchange's refined, bleached and deodorised (RBD) palm olein.Another trader said the market was up on strong export figures ...

Markets - Commodities - Asia

TOCOM hits 3-week high as gains in Shanghai futures help TOKYO: Benchmark Tokyo rubber futures hit a three-week high on Monday, reversing earlier losses, as investors rewound short positions after a jump in China shares and gains in Shanghai rubber futures helped improve sentiment, which was earlier hurt by a higher yen. "Strong China's equities and Shanghai rubber futures lent psychological support to the TOCOM in thin trade with many traders and investors on summer holiday," said a Tokyo-based dealer.The Tokyo Commodity Exchange (TOCOM) rubber ...

Markets - Commodities - Asia

Palm oil hits two-month high on tight supplies KUALA LUMPUR: Malaysian palm oil futures were on track for a second session of gains on Monday morning, climbing to the strongest levels since June 10 and tracking gains in competing vegetable oils.Benchmark palm oil futures for October on the Bursa Malaysia Derivatives Exchange surged 2.7 percent to 2,593 ringgit ($645) per tonne at the midday break. Palm earlier reached a two-month high of 2,594 ringgit in early trade, and is in line for its ...

Markets - Commodities - Asia

CBOT soybeans target $10.18-3/4 SINGAPORE: CBOT soybeans November contract may break a resistance at $10.00-1/2 per bushel, and rise more towards the next resistance at $10.18-3/4, driven by a wave c.This is the third wave of a three-wave cycle from the Aug. 2 low of $9.43. It is capable of traveling to $10.18-3/4, the 100 percent Fibonacci projection level. A Fibonacci retracement on the downtrend from the June 13 high of $11.86-1/4 to $9.43 reveals the resistance at $10.00-1/2, ...

Markets - Commodities - Asia

CBOT corn may approach resistance at $3.37-3/4 SINGAPORE: CBOT Dec. corn may approach a resistance at $3.37-3/4 per bushel, as it has broken a lower resistance at $3.33-3/4.These resistances are identified respectively as the 86.4 percent and the 100 percent Fibonacci projection levels of a downtrend from the July 18 high of $3.63-3/4.The steep fall to $3.22-1/2 on Aug. 12 and the following quick recovery have made a hammer to form on the daily candlestick chart.This is a strong bullish reversal signal, ...

Markets - Commodities - Asia

Indian soybeans drop, tracking weaker global market NEW DELHI: Indian soybean futures fell on Thursday, tracking weaker overseas markets while higher planting also weighed on sentiment. Malaysian palm oil futures snapped a three-day rally on Thursday evening, falling from a near two-month high reached in the previous session and tracking weaker rival oils. The October soybean contract on the National Commodity & Derivatives Exchange ended 1.2 percent down at 3,552 rupees ($53.19) per 100 kg. The September rapeseed contract dropped 1.1 percent ...

Markets - Commodities - Asia

Indian gold demand to revive in H2 on surplus monsoon rains: WGC MUMBAI: India's gold demand may rise in the second half of 2016 after falling to the lowest in seven years in the first half as beneficial monsoon rains will spur rural demand during the peak festive season, the World Gold Council said.Two-thirds of demand in India, the world's second-biggest gold consumer, comes from villages, where jewellery is a traditional investment. Consumption of the yellow metal should rise as farmers reap the benefit of this year's ...