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ICE Sugar Slightly Lower at End of Week, Still Up Almost 6 Percent for Week

21

Mar

ICE Sugar Slightly Lower at End of Week, Still Up Almost 6 Percent for Week

Raw-sugar futures for May delivery rose as much as 16 cents a pound. Prices across the broader commodities complex were lifted Friday by a more [...]

ICE Cocoa Ends Week Marginally Higher, Posts Nearly 2% Weekly Gain

21

Mar

ICE Cocoa Ends Week Marginally Higher, Posts Nearly 2% Weekly Gain

Cocoa futures rose as market concerns over a hot and dry start to the season reducing the size of West Africa’s mid-crop See: [...]

Tocom Rubber Futures Close Higher on Weekend, Up 6% on Week

21

Mar

Tocom Rubber Futures Close Higher on Weekend, Up 6% on Week

The Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery finished 3.3 yen or 1.9% higher at 178.9 yen (US$1.61) per kg, after [...]

Tocom Rubber Futures Close Higher on Weekend, Up 6% on Week. The Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery finished 3.3 yen or 1.9% higher at 178.9 yen (US$1.61) per kg, after retreating from a high of 181.5 yen, the highest since March 7.
U.S. oil futures touched new highs for 2016 on Friday and were set to post gains for a fifth straight week on growing optimism that major producers would strike a deal to freeze output, while a more benign interest rate environment also supported prices.
See: Tocom Rubber Prices Strengthened by Rising Crude Oil
The dollar held near a 17-month low of 110.67 yen struck overnight as the Fed’s less hawkish outlook for U.S. interest rates weighed on the U.S. currency.
The Nikkei share average fell for a fourth day on Friday, after the dollar plunged to a near 17-month low overnight, pressuring exporters and dented overall sentiment.
Singapore rubber futures for August delivery were up 0.4 percent at 133.70 U.S. cents a kg on Monday. 
Vibiz Research Center analyst predicts that Tocom rubber price movement in subsequent trading still has the potential to weaken with the potential decline in crude oil prices. Also need to be observed is the potential strengthening of the Yen that could weaken Tocom rubber prices.
For today's trading session price is expected to meet Support at position 174.00 yen. Subsequent Resistance is at 169.00 yen. In the meantime, if the price rebounds will meet Resistance at position 184.00 yen and 189.00 yen.  
Editor: Asido Situmorang
http://vibiznews.com/2016/03/21/tocom-rubber-prices-end-the-week-higher-on-a-weekly-basis-recording-a-6-percent-gain/

CPO Prices Moved Positively, Assisted by a Weakening Ringgit

21

Mar

CPO Prices Moved Positively, Assisted by a Weakening Ringgit

This afternoon, the US dollar strengthened against the Ringgit. The US dollar-Malaysia Ringgit pair was observed rising 0.52% to 4.0720. The weakened [...]

CPO Prices Moved Positively, Assisted by a Weakening Ringgit. This afternoon, the US dollar strengthened against the Ringgit. The US dollar-Malaysia Ringgit pair was observed rising 0.52% to 4.0720. The weakened Ringgit has made commodity prices traded in that currency relatively cheaper for overseas buyers, thus increasing their demand. The price of the most active CPO contract on the Malaysia commodity exchange today is seen to be increasing. The price of the June 2016 contract, which is the most active contract, strengthened by 14 Ringgit and traded at 2.693 Ringgit per ton. See: CPO Price Strengthens Bolstered by the Weakened Ringgit and Increased Crude Oil An analyst at the Vibiz Research Center predicts that the price movement of future CPOs in subsequent trades has the potential to strengthen due to the potential for the Ringgit to weaken with the strengthening of the US dollar. The price of the June 2016 CPO futures contract on the Malaysian commodity exchange has the potential to test the Resistance level at 2.740 Ringgit and 2.790 Ringgit. Meanwhile, the Support level that will be tested if the price decreases is at 2.640 Ringgit and 2.590 Ringgit. Editor: Asido Situmorang

RUBBER PRICES MARCH 17: Fed Lifts The Commodity, Rubber Continues To Rise

17

Mar

RUBBER PRICES MARCH 17: Fed Lifts The Commodity, Rubber Continues To Rise

The commodity rose 2,40% or 4,10 points to 174,60 yen per kilogram (kg) or Rp20.380,28 per kg, marking the biggest increase since March 7. Earlier, [...]

RUBBER PRICES MARCH 17: Fed Lifts The Commodity, Rubber Continues To Rise. The commodity rose 2,40% or 4,10 points to 174,60 yen per kilogram (kg) or Rp20.380,28 per kg, marking the biggest increase since March 7. Earlier, rubber had opened higher by 0,23% at 170,90 yen per kg.
Commodity Broker Analyst at Yutaka Shoji Co, Gu Jiong, said the market sentiment was positive after the FOMC meeting, leading to gains in equities and the commodity market.
“The rising oil prices were also supportive,” he said as quoted by Bloomberg.
It was recorded that May contract West Texas Intermediate (WTI) was traded 1,32% higher to US$40,53 per barrel at 10.07 WIB after opening 0,15% higher at US$40,06 per barrel.
Meanwhile, May contract Brent rose 0,74% to US$40,63 per barrel at 10.08 WIB after opening also 0,30% higher at US$40,45 per barrel.
The Rubber Authority of Thailand on its site stated that the rubber prices could continue its rising trend because of decreased supply during the low production season.
Thailand still remains the largest producer and exporter, while Cina is the largest consumer of rubber.
Movement of Rubber Price in TOCOM August 2016 Contract

Date

Price (Yen/Kg)

Change

March 17th 2016 (10.41 WIB)

174,60

+2,40%

March 16th 2016

170,50

+1,67%

March 15th 2016

167,70

-2,27%

March 14th 2016

171,60

+1,60

March 11th 2016

168,90

-1,46%

Source: Bloomberghttp://market.bisnis.com/read/20160317/94/528935/harga-karet-17-maret-fed-dorong-komoditas-karet-lanjut-naik

CPO PRICE MARCH 17: Strengthen Along with Oil, El Nino to Suppress Production Through Third Quarter 2016

17

Mar

CPO PRICE MARCH 17: Strengthen Along with Oil, El Nino to Suppress Production Through Third Quarter 2016

The CPO futures contract for June 2016, the most active contract traded on Bursa Malaysia, opened 0.23% lower at 2,605 ringgit per ton. However, the [...]

CPO PRICE MARCH 17: Strengthen Along with Oil, El Nino to Suppress Production Through Third Quarter 2016. The CPO futures contract for June 2016, the most active contract traded on Bursa Malaysia, opened 0.23% lower at 2,605 ringgit per ton.
However, the commodity immediately started to rise and gained 0.88% to 2,634 ringgit or Rp 8.45 million per ton as of 10:58 WIB. CPO contracts have strengthened for 3 consecutive days.
The price of CPO increased significantly with the sharp upturn in crude oil prices. Brent oil prices strengthened 0.87% to US$ 40.68 per barrel as of 11:03 WIB after closing up 4.1% yesterday.
BMI Research has increased its average CPO price projection for 2016 from 2,350 ringgit to 2,500 ringgit per ton, taking into consideration the El Nino phenomenon which has caused a greater impact than previously expected.
“Southeast Asia has experienced lower than average rainfall since January and is expected to continue until the end of March. This will reduce palm oil production to the third quarter of 2016,” said BMI Research.
Movement in the June 2016 CPO Contract Price

Date

Level

Change

17/3/2016(10.58 WIB)
2.634
+0.88%

16/3/2016

2.611

+0.04%

15/3/2016

2.610

+0.81%

14/3/2016

2.589

-0.50%

11/3/2016

2.602

+2.48%

Source: Bloomberghttp://market.bisnis.com/read/20160317/94/528952/harga-cpo-17-maret-menguat-bersama-minyak-el-nino-tekan-produksi-hingga-kuartal-iii2016

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