04302016Sat
Last update: Sat, 30 Apr 2016 08am

Asia

Markets - Commodities - Asia

CBOT corn to fall to $3.73-1/2 SINGAPORE: CBOT corn is expected to fall to $3.73-1/2 per bushel, as it has cleared a support at $3.81-3/4.The support was identified as the 50 percent Fibonacci retracement on the fall from the Oct. 7, 2015 high of $4.16-1/2 to the April 1 low of $3.47-1/4.The next support will be at $3.73-1/2, the 38.2 percent retracement, a break below which could cause a loss to a lower support around $3.68, provided by the trendline falling from $4.16-1/2.A surge above $3.81-3/4, now a resistance, may be extended to the 61.8 percent level at $3.90.Copyright Reuters, 2016 ...

Markets - Commodities - Asia

CBOT wheat may fall more to $4.80-1/2 SINGAPORE: CBOT wheat may fall more to $4.80-1/2 per bushel, as it has cleared a support at $4.92-1/2.The support was provided by the 50 percent Fibonacci retracement on the downtrend from the Oct. 7, 2015 high of $5.42-3/4 to the March 2 low of $4.42-1/4. The next support will be at $4.80-1/2, the 38.2 percent level.It is highly likely that the contract ends its current fall around $4.80-1/2, as wave pattern suggests the uptrend from ...

Markets - Commodities - Asia

Asia Coffee-Premiums ease; dry weather sparks supply concerns HANOI: Robusta coffee premiums in Asia eased this week as futures advanced on supply concerns due to dry weather in major producers, which may well prompt Vietnamese export volumes to head higher than forecast this year, traders said.Dryness brought on by the El Nino weather pattern could cut supply from Brazil, Colombia and Vietnam, providing support to robusta prices, the International Coffee Organization said in its March report.Drought, lower yields and increased output from domestic ...

Markets - Commodities - Asia

TOCOM hits 8-1/2 month high on firmer oil prices, China optimism TOKYO: Benchmark Tokyo rubber futures jumped more than 4 percent on Thursday to hit an 8-1/2-month high above a key 200 yen level, as firmer oil prices and hopes of a pickup in demand in top buyer China bolstered investors' appetite for risk."A gain in oil prices, a lower yen and higher stock prices all helped boost risk appetite," said Hiroyuki Kikukawa, general manager of research at Nissan Securities.The Tokyo Commodity Exchange (TOCOM) rubber contract ...

Markets - Commodities - Asia

China cotton supplies seen tightening, extending price rally BEIJING: China's cotton futures extended a rally on Thursday as speculative buying pushed prices to the highest in more than a year in anticipation of tight supplies after Beijing delayed sales from its state cotton reserves, traders said.The most-active September 2016 contract at the Zhengzhou Commodity Exchange was traded up by more than 6 percent to an intra-day high of 13,425 yuan ($2,073.23) per tonne, the highest since September 2014.The price has jumped about a ...

Markets - Commodities - Asia

Silver at 11-month top, gold rises as commodities rally SINGAPORE: Silver surged nearly 4 percent on Thursday, hitting an 11-month top and lifting gold with it, as commodities rallied on firmer oil prices and optimism over the Chinese economy.Crude prices rose on Thursday as the International Energy Agency said that 2016 would see the biggest fall in non-OPEC production in a generation, helping rebalance a market that has been dogged by oversupply.Asian shares climbed to 5-1/2-month highs and the dollar retained gains from the ...

Markets - Commodities - Asia

Japan buys 126,398 tonnes food wheat via tender TOKYO: Japan's Ministry of Agriculture bought a total of 126,398 tonnes of food quality wheat from the United States, Canada and Australia in a regular tender that closed late on Thursday.Japan, the world's sixth-biggest wheat importer, keeps a tight grip on imports of the country's second most important staple after rice and buys the majority of the grain for milling via tenders typically issued three times a month.Copyright Reuters, 2016 ...