News Archives for Markets - 2020-12-23

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Commodities

Raw sugar rises in subdued trade as dollar dips despite Trump threat

March raw sugar settled up 0.7% to 14.64 cents per lb.
March London cocoa edged up 0.1% to 1,655 pounds per tonne.
March robusta coffee edged up 0.2% to $1,382 a tonne.

Published 23 Dec, 2020 08:29pm

Commodities

Gold gains as dollar dented by Trump threat to stimulus bill

No real resistance until $1,900 for gold – analyst.
Trump threatens not to sign US stimulus deal.

Published 23 Dec, 2020 06:29pm

Commodities

Palm jumps over 3pc as US soyoil rallies on Argentina strikes

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed 3.6% higher, or 8 ringgit, at 3,536 ringgit ($870.72).
Palm tracked higher prices of soyoil on the CBOT, up 2.2%, as Argentine soymeal exports stalled due to labour strikes.

Published 23 Dec, 2020 06:27pm

Commodities

Ukraine's 2020-21 beet sugar output at 984,300 tonnes so far

Total white sugar output of 1.2 million tonnes predicted by the union for the full harvest year.
Farmers harvested about 9 million tonnes of sugar beet this year.

Published 23 Dec, 2020 06:21pm

Commodities

South America supply concerns drive soybeans to 6-1/2 year high

S. America dryness, Argentine strike boost soy prices.
Corn futures hit new high since July 2019, wheat eases.
Market awaits pre-holiday US export sales data.

Published 23 Dec, 2020 05:47pm

Commodities

Copper pushes back towards highs as investors regain their nerve

Benchmark copper on the London Metal Exchange (LME) was up 0.8% at $7,808 a tonne.
Nonetheless, prices are up about 30% this year thanks to strong Chinese demand and massive speculative investment.

Published 23 Dec, 2020 05:45pm

Commodities

Argentine soymeal exports stalled as wage strike reaches 13th day

Since last week no soybean trucks have entered terminals at the country's main grains hub of Rosario, from which about 80% of Argentina's farm exports are shipped.

Published 23 Dec, 2020 10:33am

Commodities

Palm oil may test support at 3,381 ringgit

A break above 3,426 ringgit may lead to a gain to 3,474 ringgit.

Published 23 Dec, 2020 10:28am

Commodities

Gold inches higher on hopes of further US stimulus

SPDR Gold Trust the world's largest gold-backed exchange-traded fund, said its holdings fell 0.20% to 1,167.53 tonnes on Tuesday from 1,169.86 tonnes on Monday.

Published 23 Dec, 2020 10:18am

Commodities

Spot gold may drop to $1,845

The third wave labelled c is roughly 76.4% the length of the first wave labelled a, as revealed by a projection analysis.

Published 23 Dec, 2020 09:59am

Commodities

CBOT soybeans neutral in $12.38-1/4 to $12.51 range

The contract is consolidating within a wedge, which looks like a bullish continuation pattern. However, a target of $12.61 will only be established when the contract breaks $12.51.

Published 23 Dec, 2020 09:53am

Commodities

CBOT corn still targets $4.45-1/2 to $4.47-3/4 range

Support is at $4.41-1/2, a break below which could cause a fall to $4.39.

Published 23 Dec, 2020 09:43am

Commodities

CBOT wheat may retest resistance at $6.18-1/2

Support is at $6.09-1/4, a break below which could cause a fall into $6.02-1/2 to $6.06 range.

Published 23 Dec, 2020 09:38am

Commodities

NY cocoa may retest resistance at $2,585

The resistance is identified as the 38.2% retracement of the downtrend from $$2,821 to $2,439. The rise from $2,439 consists of three waves.

Published 23 Dec, 2020 09:30am

Commodities

Nickel drops to 2-week low on virus scare, ferrous sell-off

Three-month nickel on the London Metal Exchange fell to a level unseen since Dec. 8 at $16,295 a tonne, down 1.9%.

Published 23 Dec, 2020 09:26am

Commodities

US MIDDAY: Gold dips

NEW YORK: Gold prices fell on Tuesday as the dollar benefited from safe-haven buying driven by fears over a new...