09262016Mon
Last update: Mon, 26 Sep 2016 12am

Asia

Markets - Commodities - Asia

Palm oil climbs to five-month high in evening trade KUALA LUMPUR: Malaysian palm oil futures recorded a fourth session of gains in five on Thursday, supported by expectations of lower output and better than forecast export demand.Palm also climbed to a five-month high in evening trade on bullish comments from leading analysts at an industry conference. It had dropped in the previous session after three days of gains.Benchmark palm oil futures for December rose 1.8 percent to 2,725 ringgit ($664) a tonne at the close on the Bursa Malaysia Derivatives Exchange. It had earlier registered an intraday high of 2,729 ringgit, its highest since April 21.Traded volumes stood at 47,614 lots of 25 tonnes each, exceeding the 2015 average of 44,600."The belief is that production is lower (on average) and exports on-month is quite good. The uptrend is still intact," one Kuala Lumpur trader said.Palm also rose strongly in the evening on comments by analysts at the Globoil India ...

Markets - Commodities - Asia

Soybeans rebound as rains threaten US harvest, corn firms SINGAPORE: Chicago soybean futures bounced back on Thursday, rising for five out of six sessions, with prices buoyed by forecasts of more rains in the US Midwest that threaten to further delay the harvest.Wheat rose for a fifth consecutive session as Egypt's move to reverse its controversial zero-tolerance policy on a common grains fungus supported the market.Chicago Board Of Trade most-active soybean contract rose 0.5 percent to $9.80-3/4 a bushel by 0247 GMT, having closed ...

Markets - Commodities - Asia

Shanghai copper to test 37,780 yuan SINGAPORE: Shanghai copper is expected to test a resistance at 37,780 yuan per tonne, a break above which could open the way towards the next resistance at 38,330 yuan.These resistances are identified respectively as the 23.6 percent and the 14.6 percent Fibonacci retracements of the uptrend from the Nov. 24, 2015 low of 33,150 yuan to the July 13 high of 39,210 yuan. A wedge developing from 33,150 yuan suggests a target around 39,000 yuan. ...

Markets - Commodities - Asia

Gold down on profit-taking as stocks rally after Fed holds rates BENGALURU: Gold prices edged lower on Thursday as investors booked profits after a 1.5 percent rise in the previous session, opting for riskier assets like equities after the US Federal Reserve held interest rates steady at the end of a two-day policy meeting.The US central bank, however, strongly signalled it could still tighten monetary policy by year-end as the labour market improved further.Spot gold was down 0.3 percent at $1,332.80 an ounce by 0402 GMT, ...

Markets - Commodities - Asia

CBOT soybeans neutral in $9.73-1/4 to $9.80-3/4 range SINGAPORE: CBOT soybeans November contract looks neutral in a range of $9.73-1/4 to $9.80-3/4 per bushel, and an escape could point a direction.The range is formed by the 61.8 percent and the 76.4 percent Fibonacci projection levels of an upward wave c, the third wave of three-wave cycle from the Sept. 1 low of $9.37.It is unclear if the correction from the Sept. 20 high of $9.94 has completed. A break below $9.73-1/4 could confirm ...

Markets - Commodities - Asia

Palm oil gains on lower output, better-than-forecast exports KUALA LUMPUR: Malaysian palm oil futures on Thursday are on track for a fourth session of gains in five, on expectations of lower output and better-than-forecast export demand.Palm declined in the previous session after charting three consecutive days of gains. It hit a five-month high of 2,728 ringgit in early trade on Wednesday.Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange gained 0.2 percent to 2,683 ringgit ($653) a tonne at the ...

Markets - Commodities - Asia

Global palm oil output to recover in H1 2017 as El Nino effects fade KUALA LUMPUR: Global palm oil production will recover in 2017, increasing by 4 million tonnes in the first half of next year from the same time in 2016, said leading industry analyst James Fry, after the crop damaging El Nino weather event reduced output this year.Rising palm oil production could dampen benchmark palm oil prices, which hit a five-month high on tight market supplies in early trade on Wednesday.Palm futures rose 0.2 percent to 2,683 ...