08302016Tue
Last update: Tue, 30 Aug 2016 07pm

Asia

Markets - Commodities - Asia

China's July soybean imports fall 18pc on year ago BEIJING: China imported 7.76 million tonnes of soybeans in July, an 18 percent drop from a year ago, after larger purchases in the first quarter boosted domestic stocks, customs data showed on Monday.The number was up slightly from June imports of 7.56 million tonnes.Purchases by China, which buys 60 percent of the soybeans traded worldwide, can heavily influence global oilseed prices which hit 3-1/2-month lows last week after forecasts for a record-large crop in the United States.China's soy imports have been strong so far this year as consumers built up stocks amid expectations of tight global supplies and rising demand from Chinese farmers replenishing the country's hog herd, currently close to a two-year low.Beans are crushed into meal, a key animal feed ingredient, and cooking oil.Total imports for the first seven months hit 46.3 million tonnes, up from 44.7 million tonnes during the same period of last year."This year March ...

Markets - Commodities - Asia

China's July copper imports tumble 14pc on month: customs SHANGHAI: China's copper imports slumped 14 percent to 360,000 tonnes in July from the previous month, customs data showed on Monday, as softer demand in the world's top consumer slowed down buying.Shipments were still 3 percent higher than a year ago, data from the General Administration of Customs showed, while total imports for the first seven months of the year were up 19.5 percent on a year earlier at 3.09 million tonnes."Physical demand doesn't look ...

Markets - Commodities - Asia

CBOT soybeans to retest resistance at $9.88-1/2 SINGAPORE: CBOT soybeans November contract is expected to retest a resistance at $9.88-1/2 per bushel, a break above which could lead to a gain into a range of $9.91-3/4 to $9.94-1/4.The resistance is provided by the 161.8 percent Fibonacci projection level of an upward wave c, the third wave of a three-wave cycle from the Aug. 2 low of $9.43. This cycle seems to be incomplete, as it may eventually extend to the July 29 ...

Markets - Commodities - Asia

Palm rises on tighter supplies, tracking better rival oils KUALA LUMPUR: Malaysian palm oil futures rose in early trade on Monday as traders reported tight physical supplies for the month of August and the market tracked improving rival vegetable oils on the Chicago and Dalian exchanges.Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange gained 1.3 percent to 2,439 ringgit ($604) per tonne at noon.Palm snapped five sessions of gains on Friday to record its sharpest fall in two weeks.Traded ...

Markets - Commodities - Asia

CBOT wheat to surge to $4.26-3/4 SINGAPORE: CBOT Sept. wheat is expected to break a resistance at $4.21-1/4 per bushel, and surge more to the next resistance at $4.26-3/4, as suggested by an inverted head-and-shoulders and a Fibonacci retracement analysis.The pattern formed from July 29 and has been confirmed, as its neckline around $4.17 was broken. It suggests a target at $4.30-1/4, the 86.4 percent Fibonacci retracement on the drop from the July 25 high of $4.35-1/4 to the Aug. 2 ...

Markets - Commodities - Asia

NY sugar to gain more to 20.64 cents SINGAPORE: New York October sugar is expected to gain more to 20.64 cents per bushel, as it has cleared a resistance at 20.25 cents.The resistance was provided by the 14.6 percent Fibonacci retracement on the uptrend from the April 13 low of 14.55 cents to the June 30 high of 21.22 cents. The next resistance will be at 20.64 cents, the 7 percent retracement on the longer uptrend from the Feb. 19 low of 12.92 ...

Markets - Commodities - Asia

NY coffee neutral in $1.4115-$1.4375 range SINGAPORE: New York September coffee looks neutral in a narrow range of $1.4115-$1.4375 per lb, and an escape could point a direction.The range is formed by the 23.6 percent and the 38.2 percent Fibonacci retracements on the fall from the July 15 high of $1.5480 to the Aug. 4 low of $1.3695. A break above $1.4375 could lead to a gain into the range of $1.4590-$1.48, formed by the 50 percent and the 61.8 percent ...