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Archive for December 29th, 2009

India’s Cabinet Extends White Sugar Re-Export Obligation Deadline

Tuesday, December 29th, 2009

India's federal cabinet Tuesday extended a deadline for meeting the re-export obligation of white sugar against duty free imports of raw sugar made by local companies, a government statement said. »

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MARKET TALK: US Wheat Slips In Correction To Rally

Tuesday, December 29th, 2009

U.S. wheat futures are slightly lower in a turnaround from a rally Monday that was seen as overdone, traders say. There is an absence of fresh fundamental news, and participants are stepping back from the markets »

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MARKET TALK: CBOT Corn Dips In Mild Correction

Tuesday, December 29th, 2009

CBOT corn is slightly lower in early trading as the grains and oilseeds complex retreats from Monday's gains. Traders expect a mild correction, but caution that prices could move unpredictably due to the light holiday trade. »

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PRECIOUS METALS: Comex Gold Lower As Traders Square Positions

Tuesday, December 29th, 2009

Gold futures are softer Tuesday morning largely on selling to square up positions ahead of year-end, with an unusually thin market largely ignoring news or moves in outside markets. Otherwise, analysts said, gold normally might be higher since the U.S. dollar »

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MARKET TALK: Comex Gold Softer On Position Squaring

Tuesday, December 29th, 2009

Gold futures are softer largely on traders selling to exit positions in which they previously bought, says Sterling Smith, commodity trading advisor and market analyst with Country Hedging. Volume is so thin that small orders are having »

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WORLD FOREX: Dollar Drops As Demand For Risk Improves

Tuesday, December 29th, 2009

The dollar is lower against most rivals Tuesday morning as investors book profits on the greenback's December rally ahead of the year-end. The euro climbed to its highest level in nearly two weeks in New York trading, underpinned by higher »

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Indonesia Expected To Tender For White Sugar – Report

Tuesday, December 29th, 2009

The Indonesian government has issued permits to import 500,000 metric tons of white sugar between Jan. 1 and April 15, Bisnis Indonesia reports. A tender for white sugar is expected »

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ICE Canola Firm On Monday’s Gains At CBOT

Tuesday, December 29th, 2009

Grain and oilseed futures at the ICE Canada Futures market are higher at 9:17 a.m. EST Tuesday with canola seeing moderate gains as the market catches up to the advances in the Chicago Board of Trade soy complex on Monday when the ICE Canada »

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US Cash Grain Outlook: Strong Prices As 2009 Comes To Close

Tuesday, December 29th, 2009

U.S. cash grain markets are ending 2009 with a strong stretch-rally, reaching two-to-eight week highs, as of the close of business Monday. "Corn and soybeans were supported by transportation disruptions and, yes, still harvest delays for »

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US Wheat Outlook: Seen Starting Lower In Setback

Tuesday, December 29th, 2009

U.S. wheat futures are poised to start lower Tuesday in a retreat from strong gains Monday, although the markets could find support from technical buying and expectations of fund buying, traders said. Chicago Board of Trade March wheat »

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Commodities Market Impact Weather:Colder In Midwest, Plains

Tuesday, December 29th, 2009

Colder central U.S. conditions, continued favorable trends in both Brazil and Argentina, favorable South Africa rainfall, and a round of snow for Ukraine wheat areas are the main weather items for the commodity trade's attention Tuesday. »

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CBOT Soy Outlook: Down 4-6 Cents In Market Correction

Tuesday, December 29th, 2009

Chicago Board of Trade soybeans are expected to open 4 to 6 cents lower Tuesday as the market corrects lower amid a lack of supportive news, analysts said. In overnight trade, January soybeans were down 6 1/2 cents to $10.22 1/2 per bushel and March »

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CBOT Corn Outlook: Flat; Possible Correction; Crop Supports

Tuesday, December 29th, 2009

Chicago Board of Trade corn futures are expected to open steady Tuesday after flat overnight trade, with a modest correction possible following recent gains. Prices barely budged overnight and were unchanged at the conclusion of the session. March corn was »

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PRECIOUS METALS: Comex Gold Steady Below Moving Averages

Tuesday, December 29th, 2009

Gold futures are little changed early Tuesday, limited by technical chart resistance overhead and scattered bouts of selling overnight in which traders were capturing profits on positions in which they previously sold. »

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OIL FUTURES: Nymex Crude Up On Tighter Supplies, Iran Unrest

Tuesday, December 29th, 2009

Crude futures rose Tuesday as the market awaited new data on U.S. oil inventories while a crackdown on opposition in Iran raised questions about the major oil producer's stability. Light, sweet crude for February delivery recently traded 57 cents, or 0.7%, higher at $79.34 a barrel »

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MARKET TALK: Managed Money Builds Length In ICE Sugar – CFTC

Tuesday, December 29th, 2009

Money managers boosted their net long stake in ICE world sugar futures and options to 175,234 lots in the week to Dec. 22 from 158,942 lots net long the week before. Disaggregated CFTC data shows traders »

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Ivory Coast Cocoa Arrivals To Dec 27 Seen Up 12% On Yr

Tuesday, December 29th, 2009

Arrivals of cocoa beans from Ivory Coast's farms at the ports from Oct. 1 to Dec. 27, the first 12 weeks of the 2009-10 season, are seen at 579,000 metric tons, up by 12% on the 515,678 tons arrived in the same period last season, »

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