Wednesday, 24 April 2013 01:34
Posted by Asad Naeem
NEW YORK: ICE cotton fell to a nearly two-month low on Tuesday as investors were seen continuing to liquidate long positions ahead of spot contract expiry, taking profits following a rally to a one-year high last month.The most-active July cotton contract on ICE Futures US closed down 1.05 cents, or 1.2 percent, settling at 85.10 cents per pound.The price fell as low as 84.85 cents per lb, the lowest level since late February, in late-session trading as cotton continued its decline from highs reached last month during a speculator-driven rally.The spot May contract fell more steeply on Tuesday, settling down 1.65 cents, or 2 percent, at 82.68 cents a lb, down more than 12 percent from a high of 93.93 cents a lb touched on March 15."There's not a lot of trading today, but what we're seeing is the long liquidation out of the May contract. The pressure is on ...
101
NEW YORK: ICE cotton fell to a nearly two-month low on Tuesday as investors were seen continuing to liquidate long positions ahead of spot contract expiry, taking profits following a rally to a one-year high last month.The most-active July cotton contract on ICE Futures US closed down 1.05 cents, or 1.2 percent, settling at 85.10 cents per pound.The price fell as low as 84.85 cents per lb, the lowest level since late February, in late-session trading as cotton continued its decline from highs reached last month during a speculator-driven rally.The spot May contract fell more steeply on Tuesday, settling down 1.65 cents, or 2 percent, at 82.68 cents a lb, down more than 12 percent from a high of 93.93 cents a lb touched on March 15."There's not a lot of trading today, but what we're seeing is the long liquidation out of the May contract. The pressure is on ...
NEW YORK/LONDON: Arabica coffee futures on ICE sank more than 4 percent on Tuesday, briefly triggering a circuit breaker, while Liffe robusta coffee hit the lowest level in nearly three months, on sell signals after dropping below technical levels.Cocoa futures climbed to four month highs as the charts remained bullish, with both ICE Futures US and Liffe markets later paring gains. Sugar was little changed.ICE July arabica coffee futures closed down 5.55 cents, or 3.9 ...
LONDON: Gold dropped on Tuesday after the outflow from the biggest gold exchange-traded fund (ETF) accelerated, indicating investors' weakening confidence in the precious metal, and as a stronger dollar put pressure on prices. The metal retreated from the previous session's one-week high as investors were nervous about holding onto positions for any length of time, traders said. Ardent gold bulls were caught out last Monday when gold posted its biggest-ever daily loss in dollar terms. ...
ROTTERDAM: The European vegetable oils market continued to ease on Monday following improved weather in the US coupled with slack demand which pressured the CBOT soycomplex."The weaker levels caused some bargain hunting on the European cash market but buyers were generally cautious because a gloomy global economic outlook and concerns for renewed growth of still huge palm oil stocks could pressure prices further," one broker said.At 1630 GMT CBOT soyoil futures were between 0.70 and ...
NEW YORK: ICE cotton futures eked out gains on Monday as traders covered short positions and snapped up fiber after last week's drop to six-week lows.The most-active July futures contract on ICE Futures US settled 0.93 percent higher at 86.15 cents per lb. While the gains brought an end to two days of losses, prices were still languishing close to six-week lows around 85 cents hit last week."We've been testing (85 cents) for about a ...
NEW YORK: Brent crude oil returned to above $100 a barrel on Monday and gold rallied its most since last week's historic drop but copper remained below a level critical to market bulls, underscoring the economic uncertainty hanging over commodities.Grains from corn to wheat and soybeans all fell roughly 1 percent each on forecasts for better crop weather across a broad swath of the soggy US crop belt.Among other crops, cocoa retreated from a four-month ...
LONDON: Copper fell more than 1 percent on Monday, staying close to 1-1/2 year lows amid disappointing global growth and higher supply prospects.The fall in copper came despite gains in oil, gold and global equities, all of which suffered heavy losses last week after surprisingly weak Chinese growth data, and poor US jobless claims."There's pressure because of a slowdown in growth, and there has been a focus on copper because it has been trading at ...
