Tuesday, 23 April 2013 04:32
Posted by Asad Naeem
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 week. Anyone short is coming in to cover around this level, and we'll see some commercial buying right here," said Sterling Smith, a futures specialist with Citigroup in Chicago.Fiber outperformed the broader commodity market. The 19-commodity Thomson Reuters-Jefferies CRB index ended the day down 0.14 percent as gains in gold and oil were offset by weaker base metals and grains markets.Prices sank to six-week lows last week as speculators have started locking in profits after ...
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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 week. Anyone short is coming in to cover around this level, and we'll see some commercial buying right here," said Sterling Smith, a futures specialist with Citigroup in Chicago.Fiber outperformed the broader commodity market. The 19-commodity Thomson Reuters-Jefferies CRB index ended the day down 0.14 percent as gains in gold and oil were offset by weaker base metals and grains markets.Prices sank to six-week lows last week as speculators have started locking in profits after ...
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 ...
LONDON: Gold rose more than 2 percent on Monday, supported by strong physical buying after a fall last week to a two-year low, but investors reduced holdings of bullion in the top exchange-traded fund to the lowest in nearly three years.The technical outlook for gold, which has plunged more than 15 percent so far this year, has yet to improve despite the physical buying in Asia and elsewhere.Spot gold rose more than 2 percent to ...
PARIS: European wheat prices edged lower in thin trade on Monday, mostly pressured by weak US prices and by improving weather conditions in Europe, which were expected to boost crop development.A revival of Russian Black Sea wheat exports was also pressuring prices, traders said.Old crop May on the Paris-based milling wheat futures market was off 0.2 percent at 245.00 euros ($320) by 1118 GMT, while new crop November was down 0.8 percent at 212.75 euros ...
LONDON: Cocoa futures on ICE were little changed on Monday at just below last week's four-month high that followed better-than-expected first-quarter North American grindings data indicating growing demand.Raw sugar eased, pressured by accelerated harvesting in top producer Brazil in dry weather, and arabica coffee dipped, weighed by a firm dollar, in a technical correction after a rally late last week.Copyright Reuters, 2013 ...
LONDON: Brent crude oil futures raised $1 to $100.13 a barrel on Friday as bargain hunters stepped in following a heavy sell-off earlier in the week. By 1046 GMT, the front month contract was up $1.03 at $100.16 a barrel. US crude futures were also up $1 at $88.73 a barrel. Copyright Reuters, 2013 ...
